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The Danger of Inventors receiving awards for their Inventions

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The Danger of Inventors receiving awards for their Inventions

Post  Guest on Wed 13 Apr 2011 - 8:52

I have seen and experienced the possible effects of Inventors who receive to many awards pre-Licensing or pre-market place, this can and has created a over value for the Inventor of their Inventions, I have seen this with an Inventor who, had worked over the last 8 years with 4 or so different Invention agents over time, for example the Inventor received a gold award for his new power tool at a Geneva show.

For example: these companies below were ready to sign the License Agreement:

Bosch, Sears, Black and Decker and now a large China Power tool manufacture, what is the problem?, the Inventor to put it bluntly (Greed and being unrealistic), personally I have tried to talk sense into the Inventor,but with no luck, this Inventor has become self destructive and this whole process has effected the Inventor mental Health and state of mind, after Investing 3 Million Dollars in prototypes and patents in total.

Yes I love the new product, but the patents are ageing, for me its hard to see a Inventor risk everything on one Invention only, basicly its been oversold in its value, and the talk with buyers at Home Depot and other for first orders of 100,000- units is just talk, talk is cheap but many Inventors do not understand this, when the order is placed and deposit place you have a start but otherwise, good old (Pie in the Sky Stuff)

Like I say to many Inventors, I talk about the bird I have in the Hand (The Deal signed and sealed) and not the 2 birds in the bush (what could happen), most Inventors get stuck with the 2 birds in the bush mentality, yes we need to all be positive but realistic also.

The poor business decision's from many Inventors I come across is just so mind boggling for me, the value of your new Invention product has nothing to do with with you Invested but the Level of Interest and the market will decide its value, so if a large company offers you a fair and reasonable deal, don't wait out for 1 million dollars upfront because they can and will walk away, as this Inventor found out.

So yes go out and get awards and reviews after your new product is in the market, because their are real dangers doing it before hand, it can and has backfired for some Inventors. (so please be aware of this)

Also note sometimes reviews can come in poor and if the possible Licensee find that review, it could kill the deal or effect its value, undervalue your new product.

bounce

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