word to the wise
There are all types of companies vying for your business. The best thing
you can do to protect yourself is to be educated on the Invention
Here are a few pieces of advice taken from the personal experience of Justin
Aiello. This advice is based on having spent more than 20 years providing
Product Development services to individuals and companies designing
products for the consumer, medical and industrial markets. Justin
holds many patents and awards for products he has developed including
a few of his own.
When talking to anyone or any company about your idea, always have
them sign a confidentiality agreement before you disclose any information.
Too Good to be True
Be wary of any companies that claim to handle every imaginable part
of bringing a product to market, including market analysis and product
promotion. If they claim to be able to provide a "Free Market
Analysis" I would be very suspicious. I have reviewed one of
these "Market Analyses" and was shocked to see the company
supplied one generic form designed to take anybody's idea and make
it look like it was the greatest idea since the wheel.
If you want a market analysis, go to a company that specializes in market
research. If you want help promoting your product, hire experts in
that area. Likewise if you want Invention Development, go to a company
that specializes in Invention Development, such as Aiello Designs.
Would you want your butcher to throw in an eye exam with a purchase
of 2lbs. of beef?
Stay away from the invention companies that claim to submit/promote
your invention on your behalf. I have talked with many individuals
who have spent a good deal of money working with these companies and
have nothing of value to show for it. Companies that won't discuss
fees over the phone are trying to force you to go in for the face-to-face
hard pitch. This process begins to have the same appeal as a cult.
These are the same companies that advertise at 3 am on latenight TV for
a free inventor kit. If a company makes you uncomfortable or gives
you any reason to be suspicious, STAY AWAY!
The Federal Trade Commission, or FTC, has stepped in to help bring some order
to the invention development industry. In doing so, they created "Project
Mousetrap" to identify and shutdown fraudulent invention companies.
You can learn more about this law enforcement program at www.ftc.gov/opa/1997/07/mouse.shtm
Before conducting business with any invention company I recommend using the
FTC web site to find out more information first. Go to www.ftc.gov/index.shtml
and type in the name of the company and principal into the search
box to see if they have been cited, and/or, fined for fraudulent activity.
PHONE: 207-467-9145 M-F, 9-5, EST