Frequently Asked Questions
There’s usually 3 stages of development: For an original idea, you will receive 10% of all profits after expenses. If your product is a prototype and has a patent pending you will receive 20% and if you have a finished product that has tooling completed and has a patent or is patented pending you as the inventor/entrepreneur will receive 30% of the net profit.
More than fair. Most inventors who submit a patent and prototype to a distributor normally get 2% to 5% of profits, after expenses. “Ideas” rarely get looked at, and usually do not get anything at all, possibly 1-2% on rare occasions but most distributors want a patent. Even after receiving a patent, there is still no guarantee of finding a distributor. If you have a finished product, with a patent and the tooling is done, a normal deal is still 2-5%, and a great deal can go up to 10-15% but that's usually only if the distributor sees strong interest by the public ahead of time.
Yes, your idea or prototype cannot exist in the market, so please check before you submit.
If the other inventor does not have a patent, and you both have 2 original ideas that are similar or are the same, we will then notify both of you of this situation and you can discuss amongst yourselves to partner up or not. If there’s no meeting of the minds, we will regrettably have to eliminate both of you from the competition.
There’s always a risk, but we will have our team start the process, which will include our legal team who will start the process of submitting copyrights, trademarks, and begin the adventure of developing your idea or prototype to make it a reality. We also have distribution partners that will get it out as soon as it is produced, tested, and ready so it can be first to market.
It could take anywhere from 2-4 weeks, depending on how many video submissions we have to review. However, once you submit, we will send you an automatic response with our contact email if you have any questions. We will keep you updated throughout the process.
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