Michael S. Neustel, a U.S. Registered Patent Attorney, founded the National Inventor Fraud Center, Inc. (NIFC) with the goal to provide information to consumers about invention promotion companies and how people can market their ideas. Many inventors do not realize that some invention marketing companies charge thousands of dollars, yet have success rates of 0.00%.
The goal of the NIFC is to educate and help inventors make the right decisions. The NIFC is owned by Neustel Law Offices, LTD. Never "rush" into the invention process. Make sure to take your time before making important decisions that affect you and your invention. Rarely are there situations where an inventor needs to make a decision within a few days.
Thoroughly investigate any invention promotion company BEFORE providing them with your invention or money. You can visit the FTC web site (www.ftc.gov) to search for information about invention marketing companies. It is important to have an objective invention "marketability" evaluation performed by a third-party.
The goal of the NIFC is to educate and help inventors make the right decisions. The NIFC is owned by Neustel Law Offices, LTD. Never "rush" into the invention process. Make sure to take your time before making important decisions that affect you and your invention. Rarely are there situations where an inventor needs to make a decision within a few days.
Thoroughly investigate any invention promotion company BEFORE providing them with your invention or money. You can visit the FTC web site (www.ftc.gov) to search for information about invention marketing companies. It is important to have an objective invention "marketability" evaluation performed by a third-party.
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A patent is a right, granted by the United States to an inventor, to exclude others from making, using, selling or importing an invention throughout the United States without the inventor's consent.
The inventor may license or sell the rights defined by the claims of the patent.
An inventor can also use "patent pending" on their products and marketing materials after a patent application is filed.
There are currently over 7 million United States patents issued to inventors.
Without a patent, anyone can make and sell your invention without your permission and without compensating you.
The inventor may license or sell the rights defined by the claims of the patent.
An inventor can also use "patent pending" on their products and marketing materials after a patent application is filed.
There are currently over 7 million United States patents issued to inventors.
Without a patent, anyone can make and sell your invention without your permission and without compensating you.
We recommend to most inventors that they "license" their invention to limit the financial risk involved with all new products.
By utilizing the Licensing Process, an inventor mainly invests their money in a reputable patent attorney to draft a solid patent application that can't be easily designed around.
The typical patenting costs an inventor will spend for a patent application to be drafted range between $3,000 to $6,000.
However, some inventors insist on being the "manufacturer" of their new product and invest upwards of $100,000 in starting a new company.
By utilizing the Licensing Process, an inventor mainly invests their money in a reputable patent attorney to draft a solid patent application that can't be easily designed around.
The typical patenting costs an inventor will spend for a patent application to be drafted range between $3,000 to $6,000.
However, some inventors insist on being the "manufacturer" of their new product and invest upwards of $100,000 in starting a new company.
Most individual inventors should consider licensing their "patent rights" to an existing manufacturer and simply collect a quarterly royalty.
It is important to understand that you license the "patent rights" and not the invention.
In other words, you must either have a patent or have applied for a patent ("patent pending").
No manufacturer is going to seriously consider licensing your idea without a patent or patent pending (see our Patent Protection section).
Of course reaching Step 4 depends upon how well you do Steps 1 - 3.
It is important to understand that you license the "patent rights" and not the invention.
In other words, you must either have a patent or have applied for a patent ("patent pending").
No manufacturer is going to seriously consider licensing your idea without a patent or patent pending (see our Patent Protection section).
Of course reaching Step 4 depends upon how well you do Steps 1 - 3.
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