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Actual for You - Is an Invention Service Company the Solution? Very Few Inventors Ever See Successful Results
The credit card commercial asks:"What's in your wallet?"The message is that they want to save you from the ravages of high interest from other credit card companies.When I ask:"What's in your work model?"I want to save you from the ravages of having a job and living paycheck to paycheck.Work once - get paid onceIf you get paid per hour for what you do, you have a job. And in most cases, J-O-B stands for Just Over Broke.Even if you have a very high hourly fee, you still have a job and are trading time for money. In my private practice, my hourly fee is high enough to pay the bill and provide for a family of four people.That's the good news.The bad news is that I am still trading time for money and I'm limited by the number of hours I can put in. If I'm not there in my chair, I'm not making any income.Work once - get paid, get paid, get paid, paid, paidI like this work model a whole lot better.prototypes, conduct the research and produce the documents necessary to professionally present the product.
The invention mills, however, typically offer in-house financing and advise that they take care of all of the needed elements required to professionally excite investors or license deals. Often at usur
Yesterday I had the distinct fun and exciting privilege of having a prescription filled. If you have not had this experience I highly recommend it, as it is right up there with watching paint dry and grass grow.While I was waiting I had a chance to observe this particular pharmacy's “Rock of Gibraltar, White Knight, Unsung Hero” in action.Nearly every business has one of these individuals in their organization. This person is usually where the action is hottest. Whenever there is a fire, they show up with the fire extinguisher, a quick fix and a word of encouragement. They then move on to the next one and then the next one. Seamless and quick, never stopping, their whole day is one of accomplishment and satisfaction.This particular individual never stopped the entire time I was waiting. Between answering the phone, talking with customers who were waiting and moving the line, this “production specialist” was every bit professional and friendly even though he never stopped
One of the saddest aspects of my work as a new product development and marketing consultant is the whole area of invention submission firms. We see dozens of entrepreneurs every year: mentally torn, financially rocked, hopes depleted after their experience with the invention mills. In a number of cases real opportunity has been slaughtered. In many other cases the product or service offered would never be a realistically viable commercial opportunity, and any capable consultant would honestly advise such.
Essentially these dream merchants are boiler rooms. After viewing the commercial and calling the toll free number, the inventor is contacted by a sales person. Submission materials are forwarded, promises made and costs are discussed. Many entrepreneurs do not have the needed investment monies to appropriately file patents, create prototypes, conduct the research and produce the documents necessary to professionally present the product.
The invention mills, however, typically offer in-house financing and advise that they take care of all of the needed elements required to professionally excite investors or license deals. Often at usuri
A successful business strategy is often defined by a good advertising and marketing plan. Look around. Any venture that lacks the proper come-on to customers is almost always doomed to fail.Take a start-up Web design company, for instance. If its proprietors do not make the business known to prospective clients by placing ads on the Internet or by informing the local neighborhood of their services, they will mostly likely get only one or two orders a month, majority of which will be from relatives and close friends who are really left with no choice but to help their friends' ventures flourish.This is where an effective and catchy brochure comes in. In an age where the Internet is the weapon of choice for most advertisers, a lot of people still prefer the feel of something concrete in their hands, as if to prove that the business truly exists and is not fly-by-night. Printing a brochure that strikes peoples attention easily will do the trick.Why do you need a brochure? thousands of corporate decision-makers, get rich. This is the American Dream, is it not?
One of the saddest aspects of my work as a new product development and marketing consultant is the whole area of invention submission firms. We see dozens of entrepreneurs every year: mentally torn, financially rocked, hopes depleted after their experience with the invention mills. In a number of cases real opportunity has been slaughtered. In many other cases the product or service offered would never be a realistically viable commercial opportunity, and any capable consultant would honestly advise such.
Essentially these dream merchants are boiler rooms. After viewing the commercial and calling the toll free number, the inventor is contacted by a sales person. Submission materials are forwarded, promises made and costs are discussed. Many entrepreneurs do not have the needed investment monies to appropriately file patents, create prototypes, conduct the research and produce the documents necessary to professionally present the product.
The invention mills, however, typically offer in-house financing and advise that they take care of all of the needed elements required to professionally excite investors or license deals. Often at usur
So, you have a business of some sort. It could be selling medical equipment, pencils, pumpkins, your services or whatever, what your selling is really of little importance. What really matters is what your customers think about what you're selling.But before you can even consider caring about what your customers think about what you're selling, you have to give some serious consideration to how you're going to obtain these customers in the first place.I once worked for a chain restaurant (that most of you have probably heard of) in a small town with little competition. You would have thought this restaurant was the last place on earth to grab a decent dinner, because on weekends the hillbillies would line up at the door and wait for a couple of hours to eat dinner. It was crazy a crazy thing to be a part of, but it isn't normal. It's like I used to tell my boss, "if you're the only horse in the race, its easy top be number one." The problem that many business owners ha
Essentially these dream merchants are boiler rooms. After viewing the commercial and calling the toll free number, the inventor is contacted by a sales person. Submission materials are forwarded, promises made and costs are discussed. Many entrepreneurs do not have the needed investment monies to appropriately file patents, create prototypes, conduct the research and produce the documents necessary to professionally present the product.
The invention mills, however, typically offer in-house financing and advise that they take care of all of the needed elements required to professionally excite investors or license deals. Often at usur
People often come to me to assist them with developing their brand because they are unable to accomplish the business success they desire. They're experiencing what we call the Big Uneasy--the state of being when things are hard. They are stuck in an idea, unable to make it happen, and dreams are unfulfilled. Life is heavy, there's a lack of flow... the Big Uneasy has taken over.Knowledge is needed to alleviate the discomfort-- to grow your business, to make the right decisions. In our information-rich world of today there is a multitude of help available.Multi-day, multi-speaker and multi-vendor events have become the norm. More help is coming to the rescue everyday. These essential events open people up to a greater world of possibility-- as well as something else that can be debilitating-- the clouds of guess.Yes, you heard me right, the clouds of guess.The breeding ground for the clouds of guess is amongst the amazing speakers
The invention mills, however, typically offer in-house financing and advise that they take care of all of the needed elements required to professionally excite investors or license deals. Often at usur
There is an unnerving trend facing American businesses today: small companies are finding themselves embroiled in legal battles with an alarming frequency. These independent businesses, many of which are small-scale operations that survive on a meager budget, are faced with defending their intellectual property rights- everything from their company name to the items they produce and sell. Legal battles over intellectual property have a varied effect on the general public, who will eventually pay the price of court cases aimed at those who lack the available means to fight back.In order to understand the current battle, one must first understand what Intellectual Property is. Intellectual Property is defined as "Property that derives from the work of the mind or intellect; specif An idea, invention, trade secret, process, program, data, formula, patent, copyright, or trademark or application, right, or registration relating thereto". (1) What does this mean in layman's terms? Intellect
The invention mills, however, typically offer in-house financing and advise that they take care of all of the needed elements required to professionally excite investors or license deals. Often at usurious interest rates, the hopeful inventor makes a down payment on their dream, finances the balance, and, seduced by thoughts of riches, fully buys into the program. Then reality quickly rears its ugly head.
The Patent Filing
There are two styles of patents, utility and design. Only utility has real value, offering specific protections. The design patent can be easily overcome with elemental design or art changes to a product. In addition, a relatively recent filing class has been created: the provisional patent. Essentially the provisional patent is a simple letter to the United States Patent and Trademark Office announcing to the agency that you have an idea and are keen to pursue it. It offers virtually no protection.
The provisional patent costs almost nothing to file and has a life of exactly one-year from date of filing. The provisional must then be amended to utility or design in a new filing. The invention firms have in-house attorney’s that routinely spit out the provisional filings and offer this as proof to the inventor that real patents have been filed and protections secured. Inexperienced, gullible first time entrepreneurs often believe that their product has real patent protection.
After the 12 month pro
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