- Report: #165105
Report - Rebuttal - Arbitrate
Complaint Review: Invent-Tech Invention Technologies
Invent-Tech Invention Technologies2655 Lejeune Road Suite 550 Coral Gables, Florida U.S.A.
Invent Tech - Invention Technologies ripoff scammed, lost $10,000, warning to others! Coral Gables Florida
*Consumer Comment: Whew, that was close.
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I called for more information.I received numerous calls from them pursuading me to pursue this. They sent me forms to fill out which was where I had to list the name of my product, it's purpose and my thoughts as to why I thought there was a need for it. I also had to draw a rough sketch. I was told my idea would have to be reviewed for marketability.
I got a call from them saying my idea was considered marketable and he even said their response was "quite good actually".
I agreed to the first package which was approximately $850.00.I was impressed with this package and I became very excited. I did notice the drawing looked a little childlike.
I had a personal contact at this point and his name was George. He told me all about how his daughter had come up with the idea of roller blades and he did not pursue it and has always regretted it.
I asked him if they had ever fully licensed any ideas for anyone else. He said he had 4 fully licensed that year not counting what the other sales guys had. Invent-Techs fee was supposed to be 10% of whatever royalties I got.
He told me they attended over 700 trade shows. I thought wow what exposure!I was then informed that the mega exposure package was $5000 to $8500 depending on how much exposure I was willing to pay for. I'm sorry to say
I went for the $8500 package.
I asked about a patent and he told me that we would wait on that because if someone wanted to license it and change it slightly we would have to get another patent. He said what is a patent anyway? Anyone could change it just 15% and get their own patent.
He also said he would have his first millon by then. I assumed he was talking about their 10% of my royalties.
George wanted me to air mail the check to him,he said so we could get started and maybe I could be represented at the trade show in March. I did this and called him to make sure he got it. I noticed a chill right away. He said I was not to call him anymore at this point and he did not have time anymore anyway. I was given another number to call.
I received a few calls from them and the info I got was all very generic. "We are working on another package". The packages were rotated each month. One month it's a media package and the next month is a manufacturer's package, both containing 10 names of newspapers or 10 names of manufacturers. I have to mail these out myself and pay for the postage. Invent-Tech says this is so we can be involved. Certainly not the exposure I thought I was going to get for $8500.
Now I don't hear from them at all unless I call. When I called this last time a couple of weeks ago, the phone was answered as simply "yes". I thought that was very strange. I began to express my doubts about their operation and he got very angry and started to yell. As he hung up he said "A pleasure talking to you as always" with a lot of sarcasm.
I get an occassional E mail with their being at some trade show and how successful it was. No mention of my idea, if anyone looked at it, nothing specific.
My contract is for 2 years and is up in March 2006. I knew as soon as they received my money and the treatment I got, something was wrong. I knew I had lost my money.
They have you sign an agreement that you will not say anything to anyone about how they operate or anything negative about their business. The public needs to be warned. I hope I am protected from them. I have certainly already lost enough.
White House, Tennessee
This report was posted on Ripoff Report on 11/18/2005 01:04 PM and is a permanent record located here: http://www.ripoffreport.com/r/Invent-Tech-Invention-Technologies/Coral-Gables-Florida-33134-5846/Invent-Tech-Invention-Technologies-ripoff-scammed-lost-10000-warning-to-others-Cora-165105. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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