Complaint Review: InventHelp - Nationwide
InventHelp Invention Submission Corporation, Invention Marketing Incorporated, IntroMark ABSOLUTE SCAM, FRAUD, DECEPTION AND LIARS Pittsburgh Nationwide
Here's the inside scoop on InventHelp (formally Invention Submission Corp., Invention Marketing Inc, IntroMark). All of this information is true. This company has been operating under different names for 40 years and has been perpetuating the same scam all this time. They have been sued by the Federal Trade Commision (paying over $1M dollars in fines), many State Attorney Generals, and countless clients).
They do comply with invention laws (in writing), but the salespeople (consultants) minimize these warnings on the telephone and encourage people to pay thousands of dollars for worthless services. The few inventions that they claim are successful - they've paid to have manufactured by a contract manufacturer. Practically none of their clients have made money by "submitting inventions to Industry." In fact, their system of promoting inventions is one of the oldest scams around. Here's how it works:
You'll see a TV commercial (or an internet ad) for an “invention marketing company” to help you market your idea. They offer a free “inventors package” that includes a “Non-Disclosure Form & Confidential Agreement” that they want to you to fill-out and return to them for a free review.
After a week or so, an “invention consultant” will call you (or send an email) to tell you that your idea has been “accepted” by their firm. Additionally, they’ll tell you that: 1) your idea has tremendous potential, 2) their research dept. is very excited about it, 3) they’ve never seen anything like it, 4) there’s nothing else on the market that is similar, and 5) you could make a lot of money.
Next, they’ll send you a contract for $300 – $1500 for “a research report,” and they’ll tell you that if the report comes back “negative” – you’ll receive a full refund (beware: none of these reports are negative or critical). In fact, each report is filled with standard language (boilerplate) that describe the various stages for developing any invention. You might also receive “a preliminary” patent search (which is completely unreliable) along with a drawing and some other useless information. At the conclusion of the report, it will state that your idea is sound, practical, or useful. So, now the company wants to submit your idea to the manufacturing “industry” and bilk more money from you.
Within ten days, you’ll receive an “Invention Submission Agreement” asking for $2,000 – $20,000 that will provide completely useless services for developing and promoting your idea. They’ll probably give you a choice: you can pay a very high amount and keep 90% of your future or you can pay a few thousand dollars less and keep 65% – 70%. This ploy is just a trick to encourage you to pay the highest fee and keep the highest percentage of “royalties” (that you’ll never see) – for example: you can pay $12,000 and keep 90% of future “royalties” or pay $10,000 and keep 80% or pay $8,000 and keep 70%. Most inventors choose the $12,000 – 90% plan because they’ve been convinced by the salesman (invention consultant) that they’re going to make millions.
They may also want to file a “Design Patent” which only protects the exact outer shape of your idea. However, a Design Patent does not protect the way the invention works. In some cases, the invention company will offer to file a “Provisional Patent Application” which does not protect the design and function of your idea. This application simply registers your invention at The US Patent Office on a specific date for $130 and gives you one year to file a real patent application (non-provisional). After the one year has expired, you will still need to file a real patent application (usually $8,500 – $15,000 for a simple invention). Needless to say, the invention company has no intention of paying for a real patent application that offers the only form of legal protection.
Your consultant will continue to deceive you by stating that: 1) the company will use every form of promotion to license or sell your invention, 2) you could receive a “cash-buyout” of millions of dollars, 3) you might receive a 5% royalty in addition to a huge upfront payment, and 3) they will pay all the costs associated with securing a royalty agreement (beware: they rarely – if ever – receive any legitimate interest from reputable manufacturers, corporations, venture capitalists, or organizations).
Now, this is just a small dose of the lies, misrepresentations, and outright deceptions that you will encounter with every single invention marketing company that asks you for money. So, how do they stay in business? Well, many of these firms have been closed down by the Federal Trade Commission. However, new ones keep popping-up who are more clever than their predecessors. For example, in their contracts, they include mandatory “Warnings to Inventors” that disclose the high-risk nature of inventing and the fact that most inventors lose their money. Federal and State laws require all invention companies to include a long list of warnings that describe the perils of trying to launch a new product.
The problem is that the salesman (invention consultants) are unbelievably skillful at dismissing these warnings and know exactly how to keep you hyped up. When you speak to a salesman on the phone (or in their office) they are well-rehearsed at making you believe that your invention has a very good chance of success; and it’s one of the best they’ve ever seen. Also, they’ll pump you up by saying: “this could be your one chance to make a fortune.”
The salesmen will stop at nothing. They’ll call you day and night to tell you how excited they are about your invention. They’ll also tell you that if you don’t market this invention – someone else will – and they’ll make all the money. The truth is: your salesman will say anything to motivate you to pay the fee because they receive a huge commission on your payments. In fact everyday, your salesman is telling other inventors the same exact lies that they’re telling you. Somewhere along the line, these salesman have lost their conscience and will say whatever is necessary to get your money.
You may find it hard to believe that these “nice salesmen” are devious liars because they sound so sincere on the phone or during meetings at their office. They seem to be your best buddy, but in reality they’re your worst nightmare; they know that you’ll never make a dime, and they couldn’t care less. For the salesman – it’s all about the commission.
Question: Are all fee-based invention marketing companies a scam? 99.9% (especially those that advertise on TV and the internet).
Within 4 months, you’ll feel the pangs of regret and realize that your invention company has absolutely no expertise in marketing inventions. You’ll also realize that your hard-earned money has been wasted, but you’ll find out how to receive a full refund by reading the section below.
To verify the allegations made here, simply ask your salesman to answer each question below in writing. There is a 100% guarantee that you’ll never receive any specific, truthful answers:
1) How many of your salesman’s clients have made money from marketing their inventions? (They’ll tell you that this information is confidential). What are the names of any successful ideas that were marketed by the invention company and where can you buy one? or find one on the internet? Did any of the company’s “successful” inventions go through the same exact process that you’re paying for? or did the invention company invest in these inventions or make special arrangements to get a few products on the market for their own credibility?
2) What are the total number of inventors that have made money with the company vs. the total number of clients that have paid a fee?
3) What are the names of a few successful clients who have made money? Where can they be found on the internet?
4) How can they promote your invention without an in-depth patent search and a legal opinion of patentability? What if the same exact idea has already been patented? What if the same exact idea is already in a “patent-pending” status?
5) How many prototypes has the company built-in order to improve and promote the inventions they represent?
6) If the invention company promotes inventions at trade shows – how are the patent rights be protected?
7) Who is the person at the company that has negotiated either license or sale agreements for an invention? What are the qualifications of this individual? Please provide the name of a patent attorney (hired by the invention company) who has filed a real utility patent application (non-provisional)? Is this patent attorney registered to represent you at the US Patent Office?
8) Who is the owner of the invention company? What are his/her qualifications in the field of invention development? Does the owner have any experience in selling an invention or acquiring a patent? Do any of the “invention consultants” (salesmen) have any experience promoting an invention – if so, what happened?
9) Have there been any lawsuits against the invention company for misrepresentations, fraud or wrongdoing? If so, how much money did the invention company pay to settle these claims? and to whom were the payments made?
10) Has the invention company changed its name or started a new company over the last 20 years? What were the names of these former companies and were they investigated or prosecuted by State or Federal agencies?
After a while, you’ll realize that you’ll never receive any specific answers in writing to the questions above. Hopefully, at that point, you’ll forget about working with any fee-based invention-scam.
This report was posted on Ripoff Report on 08/01/2015 10:13 AM and is a permanent record located here: https://www.ripoffreport.com/report/inventhelp-trusted-business/nationwide-vention-submission-1245692. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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