40 Invention Companies That Buy Ideas: Say Goodbye To Your 9-5 Job - Radical FIRE (2023)

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Got a new idea and want to make money out of it? Are you looking for invention companies that buy ideas? If so, then you have come to the right place! We will discuss with you the companies that invest in useful inventions.

A great idea comes every now and then for most of us. Whether due to some vision, realization, or brainstorming session, ideas for new products may come to us anytime. But what do we do to bring these ideas to life?

Invention and ideas work well if you know what to do. From licensing to patenting to trademark and prototyping, there are many steps to take if you want to realize your idea. And this requires money. But what if you cannot fund everything you need to do? What do you do?

Sell your idea.

Your idea can be a business idea for companies to develop a product. This common practice has led to the creation of many products we enjoy and love today. The challenge of realizing your idea can be addressed through the help of companies willing to fund building your idea.

Now you know you can sell your invention ideas. As a side hustle, if you need money now, or simply as an under-the-table job. That’s addressed. But to whom do you sell it? And how? Let’s find out.

Table of Contents show

Invention Companies That Buy Ideas

Many inventors are struggling to sell their ideas. But don’t worry. We have compiled a list of invention companies that buy ideas from inventors like you. Here are 40 of them:

1. Sharper Image

Sharper Image is an American brand that provides its customers with different items such as home appliances, air purifiers, toys, and high-tech gadgets. You can access their items on their website, catalogs, and third-party retailers.

Sharper Image is one of the companies on our list that pays for invention ideas. To stay on top of the competition, they are looking for invention ideas on a continuous basis.

Sharper Image formed a team that is devoted to inspecting and sifting through the proposals given to them by the new inventors.

For those who wish to submit their invention ideas to Sharper Image, you will have to:

  • Send your plan via email, and make sure to include a specific product description.
  • If you have made your prototype, add the photos and videos to your email.
  • If you don’t have a prototype, you can send a mock-up drawing of your idea.
  • However, if you have already started the production of your product, you can send them a report about the sales numbers and the place where you sold them.

2. Henkel

Henkel is a company established in Germany. They are known to work worldwide with leading brands and technologies in 3 business categories; laundry and home care, beauty products, and adhesive technologies.

Henkel is taking product ideas through the Henkel Innovation Partnership Program. They are consistently searching for new technologies, product ideas, patents, and other intellectual property that may help the company to produce better products and have more profitable business models.

One thing that makes Henkel stand out is that they not only focus on professional inventors but also take ideas from students and ordinary people.

Below are the categories that Henkel are looking for:

  • A grand patent.
  • A published patent application.
  • Or even registered and produced utility models or designs.

If you have the above-mentioned categories and your invention fits their criteria then take the opportunity and send them your proposal.

3. Dorman Products, Inc.

Dorman Products, Inc. is a company that supplies replacement parts for any automotive vehicle, such as light and heavy-duty trucks. Aside from that, they also make products of fastener clips for passenger cars.

Dorman takes any worthwhile projects from aspiring inventors. To submit product ideas or existing Dorman Product categories, you need to answer some basic information on the website and wait for the company’s reply if they are interested or not.

However, the company does not state on its site how much they pay for approved product ideas. To apply, you may visit their site for more information.

4. Jokari Home Solutions

Jokari Home Solutions generates common household items, kitchen gadgets, and other houseware items or storage solutions.

Jokari company is actively looking for fresh and new innovative ideas. So if you are one of those potential inventors interested in pitching to them, you should visit their website.

To send a proposal, you must fill out the form on the site and add the necessary proof of your idea.

Once you have reached out to them, Jokari will contact you to provide more details on the next step of the process. Only concepts that fit the current Jokari standard requirement will be considered.

5. Coastal Pet Products

Coastal Pet Products is an American company that produces goods for our beloved pets. They offer collars, harnesses, grooming tools, leashes, toys, and travel essentials for our pets.

If you have innovative ideas or products that can improve your pet’s life, this is the company for you! Rest assured that Coastal Pet Products is committed to giving its consumers only the finest pet care products.

For any products like unique collars, leads, crates, and feeding systems, Coastal Pet Products will certainly reach out to you.

6. Wilson

Wilson is a company specializing in sporting goods and equipment manufacturers based in Chicago, Illinois. They accept and consider invention ideas through their website.

The submissions are usually reviewed and inspected thoroughly to ensure that the proposed products are useful and can improve the lives of their users.

If your idea fits with their brand’s goals, they will contact you to proceed with an interview or to ask for more details about your product.

You can submit your proposition to the company via their site, complete the form, and review it carefully to avoid rejecting your idea.

7. Wild Planet Entertainment

Wild Planet Entertainment is a company that develops and produces toys that inspire children to be imaginative and has the same spirit as Walt Disney. This company was founded in 1993, and its business area involves the wholesale distribution of games, toys, and hobby goods. Their products are meant to help foster a child’s creativity and let them explore their world.

Some of Wild Planet Entertainment’s best-known toys are Spy Video ATV, pirate toys, pool toys, the Spy Gear line, flashlights that transform into toy characters, and construction kits (Skeleflex).

This company is the most trusted brand to manufacture toy products. They are safe, durable, and fun for kids. If your idea matches Wild Planet’s mission, you can confidently submit your plan and wait for them to respond to your proposal.

8. Coleman

Coleman is an American brand and a leading company for outdoor recreation products such as camping gear, sleeping bags, lanterns, tents, stoves, coolers, and LED lights.

The company is headquartered in Chicago and has Wichita, Kansas, and Texas facilities. They consider invention ideas that help improve outdoor products.

Contact Coleman and pitch your idea to them if you have a plan involving recreational products.

9. Builders Inventions

Builders Inventions is a company that focuses on contractors and their daily conflicts. They have created tools like apps to design products online for their convenience and make life easier for them.

Builders Inventions creates construction tools made by artisans, tradespeople, and builders. If you are one of those artisans who invents valuable items, they will buy from you.

The Builders Inventions are regularly looking for new and fresh ideas to help construction workers. If you want to send an offer to them, sign-up on their website and send your proposal for you to be considered by the company.

10. Under Armour

Under Armour is an American sports equipment company that produces footwear, sports, and casual apparel. It is one of the most popular clothing brands for sports.

The Under Armour company is actively looking for ideas from people, and they have a detailed guide for submitting ideas and requirements to be accepted.

If you have an invention idea to share, you must register first and then share it with them. They will review every submission they receive and filter out those items that are not useful.

After you send your offer, you may expect they will get back to you in 4 to 6 weeks. Under Armour has a category of ideas that you might find interesting. Here are some of them:

  • Hunting/fishing gear
  • Wearable technology
  • Footwear
  • Accessories
  • Apparel

11. Oxo

Oxo manufactures kitchen gadgets, office supplies, and housewares such as storage solutions and cleaning tools. The company is based in New York and accessible worldwide.

Their product development team is currently looking for innovative ideas to build new products. If you are making items that are related to kitchen equipment and cookware, this company is definitely for you.

Interested? Submit your idea for consideration. To do so, visit their website, fill up the submission form, and necessary questions.

Their evaluation process usually takes 6-8 weeks to complete. This is to ensure the company has time to determine if your product meets its criteria and fits within its portfolio.

12. Unilever

Unilever is one of the most popular companies with many brands and products. Most of us have at least one or more products made by Unilever. Dove, Vaseline, and Ben & Jerry’s are some of their brands.

Unilever is a British multinational company headquartered in London, England. Unilever products include ice cream, food, condiments, vitamins, minerals, supplements, tea, and more.

If your inventions are designed to improve Unilever products and help provide solutions, you can share your idea with them.

If they approve your product, the company will contact you for the next step.

Through its Open Innovation program, Unilever is looking to partner with the following:

  • Start-ups
  • Academics
  • Designers
  • Established suppliers
  • Individual inventors

They are looking for someone with a practical innovation that can help the company solve its challenges. You can check out their website on the process of submitting invention ideas.

13. Mustang Survival

Mustang Survival is headquartered in Burnaby, Canada, and has been in the industry for 50 years. Serving people and making products for water rescue professionals, military elites, and commercial/industrial mariners.

If you have new ideas, designs, and products that could help enhance the protections our soldiers use, then you may send your ideas to them.

Mustang Survival constantly welcomes innovative ideas for products and solutions. Visit their site to know more about their submission process and regulations.

14. Hyper Pet LLC

Hyper Pet LLC is an industry-leading brand that manufactures pet products and supplies. The company has different award-winning dog toys, hyper squawkers, flippy floppers, tennis balls, leashes, and dog collars.

Hyper Pet LLC operates in the state of Kansas and is devoted to growing its comprehensive product line and openly searches for inventors who can help make their ideas marketable and beneficial.

To send your ideas, you can go visit their site and follow their guidelines for them to consider your products.

15. Eco-Products

Eco-Products is a company that produces biodegradable food service items such as cups for both hot and cold drinks, plates, deli containers, and cutlery.

As the name suggests, Eco-Products company aims to develop eco-friendly products and save the environment. This company challenges people to rethink single-use products and focus more on recyclable items.

This company continuously seeks to develop and enhance new products, materials, packaging, water diversion, and other similar processes.

If you have an invention that can add and make eco-friendly products, you can submit your idea to the company using the submission form on the website.

16. Dewalt

Dewalt is an industrial tool company and an American worldwide manufacturer of power, hand, and craft tools.

They are one of the leading hardware tool manufacturers and are actively looking for inventors that could help them develop new product ideas to be put forward.

You can submit your idea to their website by filling up their form and answering basic questions.

17. Fila

Fila is a sportswear company that manufactures design shoes and apparel established by Ettore and Giansevero Fila in 1911 in Biella, Piedmont, Italy.

In 2003, the company was sold to United States-based Sports Brand Internations, and later in 2007, a company in Korea acquired the brand Fila.

Fila openly accepts new ideas from both professional and individual inventors. With this, the company receives a huge number of new ideas and designs every day.

The only downside is that the only ideas they will accept must be patented. This is to prevent any confusion on compensation, and it is also to protect the creator.

So, if you have any patented ideas related to sportswear, you can send them to Fila through the mail.

18. New Balance

New Balance is another sportswear and apparel company just like Fila. The company is initially associated with the New Balance Arch Support Company.

New Balance has the same ethos as File regarding accepting new inventions due to the high volume of ideas they receive. Your ideas must be patented to prevent any confusion and protest you as the creator.

If your ideas are patented, you can send them to New Balance via their website and wait for 24 to 48 hours for their response.

19. Knight & Hale

When you’re talking about hunting gear, equipment, and guns, it’s impossible not to refer to Knight and Hale. They are the leading brand for manufacturing hunting products.

They are on the lookout for those who have new ideas, designs, and innovative products that can help them develop more reliable hunting items.

You can submit your ideas to Knight & Hale, fill out the online submission form, and wait for their response.

20. New Soda

New Soda is a company that develops kitchen equipment and houseware. They are known for paying royalties for inventions. Isn’t that great?

The company is looking for ideas and wants to form partnerships with designers, mums, grandads, inventors, and even kids. Once the company approves of your idea, they will invest in your inventions. You can earn royalties if it becomes a hit and saleable to people.

To submit your idea, visit their website and fill out the submission form along with your idea. You can also include drawings or concepts in the application for further clarification.

The company’s design team will review your ideas and get in touch if your idea is further explored, and if your idea is not successful, the company will also let you know.

21. Spectrum Brands

Spectrum Brands is an American company specializing in auto care products and headquartered in Middleton, Wisconsin. The company was founded in 2005 as the successor company to Rayovac Corporation.

Spectrum Brands is one of the Fortune 500 companies, which means it’s big. Spectrum Brands is consumer goods that own huge numbers of preeminent global brands.

They openly accept new product ideas such as home and garden, hardware tools, and pet care. To submit, you can check their online site and follow their guidelines.

22. WillowWood

WillowWood operates with clinicians and amputees to develop top-quality equipment and medical products to improve other people’s lives. They accept new product ideas and designs that can help improve existing products to be more beneficial.

You can submit your ideas, designs, and items by visiting their site and answering their online form.

23. Hershey

Hershey is an American intercontinental company and one of the largest chocolate producers in the world. They manufacture baked goods such as cakes and cookies and sell beverages like milkshakes and Slurpees globally.

Hershey is another big brand that accepts new ideas from different individuals. You must access their website and fill out the form to submit.

The first step is to enter your birthday, and then you’ll have to agree to the terms and conditions. One of the terms and conditions is written, “I understand and agree that The Hershey Company is not required to, and may not, compensate me for using my idea.”

That means there’s a chance that you won’t get paid for your idea, which is why it is not on the top of our lists. However, there’s also a good chance that you will get paid by Hershey.

24. Coca-Cola

Coca-Cola is a beverage company incorporated under Delaware’s General Corporation Law, and its headquarter is located in Atlanta, Georgia. The company is interested in manufacturing, retailing, and marketing non-alcoholic beverages, concentrates and syrups, and alcoholic beverages.

Coca-Cola is one of the largest multinational companies and is recognized globally. They are actively searching for great ideas for new food and drink products. Recently, they have been looking for ideas that could help reduce plastic waste or revolutionize their products.

If this is one of your inventions, you can go ahead and submit it via the company’s website.

25. Flippa

Flippa is a global online marketplace where you can buy and sell websites, blogs you’ve set up, online businesses, and other digital real estate. It is one of the biggest platforms in the world and makes the best option for selling your platform.

Flippa is a well-known site; thus, selling your ideas here will let you access the most potential buyer. Buyers don’t have to worry about the purchasing fee made through the site, as sellers mostly shoulder those.

Most apps that are sold on these platforms earn a few hundred or thousand dollars. There are also apps that are promoted here with a starting price of $100,000, and thus, making money on this site has a huge potential.

26. FastCap

FastCap is a platform full of ideas from cabinetmakers and contractors. This company is proven to market your products and has a higher chance of getting sold with a ratio of 1:100.

FastCap compensates you between 2% and 5% royalties on innovative inventions for the woodworking trade. While most of the royalties are 5%, some products require intensive development and sell for smaller margins.

Royalties are paid monthly, and this platform does not require you to have a patent to submit your ideas to them. What are you waiting for? Visit their site to submit your ideas.

27. Ford Foundation

Ford Foundation is an American private foundation with a mission of progressing human welfare. It is an organization dedicated to confronting global inequality and facilitating new projects to reduce poverty.

Ford Foundation is a company looking for new initiatives or programs that align with its mission and portfolio. You can submit your invention ideas through their website.

28. Google Play Store

Google Play Store is a company for app developers. On this platform, you can sell your apps to different consumers. Take note Google will not buy your application ideas but allows you to use their site to sell yours.

With a vast number of consumers using the Google service daily, there’s a big opportunity for your app to sell in this market and a higher chance to earn more money, especially if your app is groundbreaking.

If you have a great app idea, you can register your app in Google Play Store or approach Google to see if they’re willing to invest in your ideas.

29. Apple

Just like the Google Play Store, the Apple Store lets you use its platform to sell your own app. The more platforms you use to sell your app ideas, the more chances you will have to make a profit. If it’s marketable, many companies may approach you to work with them or buy your invention.

Apple is known to purchase your app ideas directly. So you should consider reaching out to them to see if they are interested also. If Apple believes that your app has potential for commercial release, they won’t hesitate to buy your app.

30. Supercell

Supercell is a company known for creating some popular mobile game apps you play nowadays, such as Clash of Clans and more. Supercell welcomes new invention ideas.

To do so, go to their website, answer some necessary questions, and wait for their reply. With millions of users worldwide, your app may be successful.

31. Gungho

Gungho is one of the most popular developers of mobile games apps, and one of its most famous apps is Teppen. Gungho is always on the lookout for new app ideas and is willing to pay for those app ideas that are marketable.

Apparently, they don’t have an official submission channel, platform, or site, so you will have to contact the company directly to inquire about the process.

32. FundedApps

FundedApps is a company that pays for app ideas and has a 25% cut if your invented app hits the market. To submit your idea in FundedApps, you must visit their company site and fill out the form.

Once you have submitted it, the company’s team of specialists will review your idea, and if they find it valuable, they will contact you.

33. Bosch

Bosch is a German multinational company that focuses on technology and engineering. It has operations in consumer goods, mobility, technology, and energy.

This company is searching for ways to expand its portfolio of world-renowned designs through collaboration and partnerships with different professionals, brands, and designers.

To submit your ideas, you must go to their innovation submission portal, fill out the submission form, and read the terms and conditions.

34. Kikkerland

Kikkerland is a famous company for innovative and unique products created to provide solutions to their customers. Kikkerland has the world’s largest collection of ingenious items combining form, function, and delight.

To send you ideas, you will have to go directly to their submission portal and keep in mind that Kikkerlad pays royalties up to 5% for designs that are selected to be manufactured.

35. Creative Kids

Creative Kids operate to provide high-quality products to the market that are devoted to innovation and valuable toys. This company encourages toy inventors to submit ideas that will help them produce more quality-driven toys and to be able to create convenient toys for kids.

Submit your ideas via email and wait for their companies to reach out to you once they review them.

36. Far Out Toys

Far Out Toys is a company that continues to grow in the toy industry and is keen to launch exciting new brands. This company openly invites individuals and companies to present their new concepts.

They believe that they are a great partner for manufacturing products with their possessing resources and connections to create and market the finest products.

37. Fat Brain Toys

Fat Brain Toys is a company that aims to provide the best educational toys that are carefully chosen to stimulate the imagination and bring out creativity in oneself.

The company manufactures different toys, games, and hobby tools. They are looking for new invention ideas, products, and concepts that can help enhance their products that spark curiosity.

To submit your toy invention idea, you must go to the website and answer the form.

38. Wham-O

Wham-O is also a toy company whose brand is identical to play, fun, and sport. This company provides a variety of consumer products that are applicable to all ages.

Wham-O motivates the mind to see beyond the ordinary and is eager to receive different proposals for new and exciting product ideas. Through its open submission facility, they are looking forward to reviewing your invention ideas.

39. Spin Master

Spin Master is a Canadian global entertainment company that is an expert in selling toys. They create exceptional experiences through their innovative toys, entertainment, and digital games.

That is why Spin Master is always looking for new product ideas. Check out their website for more information if you have fresh, new ideas.

40. King

King, also known as King Digital Entertainment, is a video game developer that made Candy Crush Saga a popular mobile game. So you know they do provide unique, fun, and quality games for people of all ages.

They are always looking for fresh ideas that will cater to kids and those who are young. So, if you have a creative game in mind, you may want to reach out to them. You may have the next big mobile game that will take the world by storm!

Frequently Asked Questions – Invention Companies That Buy Ideas

Now that you have a list of companies that buy ideas let’s answer some of the frequently asked questions that might help you along the way.

Why Do Companies Pay For Your Ideas?

Companies are always looking for new and fresh ideas that will make their businesses earn a profit. Since the market is very competitive, this is a way to get that much-needed edge against their competitors. Businesses that provide new and innovative products to their customers will likely win against their contenders in the market.

Businesses also have teams for this as part of their regular operations, but they do encourage independent and freelance contributors so they have a lot of choices to get the best ideas for their brand.

Can You Sell An Idea To A Company Without A Patent?

Yes, you can sell your idea to a company without a patent. But, you have to be very cautious about this as some companies might take your ideas without giving you any compensation.

To avoid this, you must ask the company to sign a Non-Disclosure Agreement. But the best thing that you can do is to have your idea be patent-protected.

How Much Will A Company Pay For An Idea?

It’s hard to tell the exact amount as these may vary depending on the idea you want to sell. This strategy cannot make you millions of dollars, but if you need money now, then this can definitely give you some cash.

Most of the investors choose to sell their ideas with royalties since it lets you collect a percentage every time your product idea gets sold. So you get to earn more through this venture.

For example, a product costs $10 and you have 2% royalties on that product, you get $0.20 for every item sold.

All in All – Invention Companies That Buy Ideas

We all know that ideas and inventions are some things that can be really tough. However, there are many reasons why you shouldn’t give up. As long as you believe that your idea can really be helpful.

There are ways for your dreams to become a reality. Invention companies are one of them. They can help you with your product ideas to become a consumer product that everyone can use and enjoy.

Other than that, there are platforms that can help you market your innovative applications and concepts. They exist to encourage you to invent items and goods that can be useful to people, businesses, and the world. Being an inventor or an innovator nowadays is much easier than it used to be.

Reach out to these invention companies for them to buy or invest in your ideas. Giving up is not an option, moving forward with your idea should be your calling card. Submit an idea and what if your idea is the next breakthrough for our society? You will never know until you try. So, gather your ideas and put them to the test!

This post is published and syndicated by Radical FIRE.

40 Invention Companies That Buy Ideas: Say Goodbye To Your 9-5 Job - Radical FIRE (1)

Marjolein Dilven

Marjolein is a financial consultant who has built over €4,000 monthly passive income and saves over 70% of her income. Read Radicals’ inspiring story, from stuck in the 9-to-5 to loving life. Feel free to send Radical a message at the bottom of this page

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40 Invention Companies That Buy Ideas: Say Goodbye To Your 9-5 Job - Radical FIRE? ›

There are two ways you can protect your idea when pitching it to a company, and those are filing a provisional patent application or using a nondisclosure agreement. Both of these will help you to present and try to sell your idea to a company without them being able to legally steal it.

How do you sell an idea to a company without them stealing it? ›

There are two ways you can protect your idea when pitching it to a company, and those are filing a provisional patent application or using a nondisclosure agreement. Both of these will help you to present and try to sell your idea to a company without them being able to legally steal it.

Where can I take my invention idea? ›

Visit the U.S. Patent and Trademark Office (USPTO) website and investigate any patents on items similar to the one you want to make. If you have questions or want to ensure your invention is legal for you to create and sell, consult an attorney who specializes in patents and IP law.

How do I sell my invention idea to a company? ›

If you happen to find a manufacturer that is interested in your invention, there are usually two options. You can sell your invention idea, or you can outright sell the invention itself for one large lump sum as compensation for your idea. The second option is to enter a licensing agreement.

How can I sell my ideas for money? ›

How to Successfully Pitch an Idea to a Company
  1. Step 1: Gather Information. Yes, it is the information age which means the more info you are armed with, the better off you will be. ...
  2. Step 2: Prepare a Professional Presentation. ...
  3. Step 3: Pinpoint Your Targets. ...
  4. Step 4: Qualify Your Targets. ...
  5. Step 5: Make the Sale.

Can I sell my invention idea without a patent? ›

No. You are not required to obtain a patent in order to sell a product or service embodying your invention. Many products and services are sold that are not patented. A U.S. patent provides the right to stop others from making marketing, selling, or importing your invention in the United States.

How much does a patent cost for an idea? ›

A patent attorney will usually charge between $8,000 and $10,000 for a patent application, but the cost can be higher. In most cases, you should budget between $15,000 and $20,000 to complete the patenting process for your invention. Previous: Why should you file a patent application? Next: Is your invention valuable?

Can someone legally steal your idea? ›

If someone takes your physical property, that's obviously theft. However, your ideas, creations, and inventions can also be stolen through intellectual property infringement, and it's not always as easy to know when this type of theft has occurred.

How do you pitch an idea without getting it stolen? ›

Here are some practical steps to help you deal with this issue.
  1. Keep your idea secret before the pitch. ...
  2. Be careful selecting companies to pitch to. ...
  3. Reveal only what you must and nothing more. ...
  4. Create and document an extensive paper trail. ...
  5. Think about confidentiality. ...
  6. How to pitch an idea.

How do I pitch an idea to Google? ›

Go to the Google Workspace Feature Ideas Community. At the top right, click Login to ask a question and sign in to Google Cloud Connect. To get access to the Community page, click Send request to join (allow up to 2 business days for access). Search the Feature Ideas Community to see if your idea already exists.

How do I get my invention made? ›

How To Develop An Invention In 8 Steps
  1. Conceptualize Your Invention And Prepare Yourself. ...
  2. Document Your Idea. ...
  3. Perform Product & Market Research. ...
  4. Design your Product. ...
  5. Manufacture a Prototype. ...
  6. Apply For A Provisional Patent. ...
  7. Find a Manufacturer (Optional if Licensing) ...
  8. Sell/License Your Product.
Sep 19, 2022

Where can I find investors for my invention? ›

Finding Investors for Your Invention
  • Angel investors.
  • Investment groups.
  • Invention clubs.
  • Venture capital firms.

Does Amazon accept invention ideas? ›

Amazon.com does not accept any legal obligation (whether of confidentiality, compensation, return or otherwise) with respect to any ideas, proposals, concepts, suggestions or materials submitted to us unless we agree to such obligations in a signed document.

How do I find someone to invest in my invention? ›

You may present to angel investors, who help companies in their very early stages. Venture capital firms fund companies that are farther along in their development. You may also present to invention clubs or private investment groups. Show that you are invested emotionally in your invention.

How do I license and sell an idea? ›

The steps to licensing an invention are as follows:
  1. Identify & research target companies.
  2. Approach prime targets.
  3. Confidentiality agreement.
  4. Prepare for negotiation.
  5. Initial presentation.
  6. Negotiate.
  7. Marriage.

What types of ideas Cannot be patented? ›

What can't be patented?
  • literary, dramatic, musical or artistic works,
  • a way of doing business, playing a game or thinking,
  • a method of medical treatment or diagnosis,
  • a discovery, scientific theory or mathematical method,
  • the way information is presented,
  • some computer programs or mobile apps,
Dec 17, 2018

What ideas can you not patent? ›

What cannot be patented?
  • a discovery, scientific theory or mathematical method,
  • an aesthetic creation,
  • a scheme, rule or method for performing a mental act, playing a game or doing business, or a computer program,
  • a presentation of information,
Jan 4, 2023

What happens if someone patents your invention? ›

The patent owner may give permission to, or license, other parties to use the invention on mutually agreed terms. The owner may also sell the right to the invention to someone else, who will then become the new owner of the patent.

How do you do a poor man's patent? ›

A poor man's patent is essentially writing out a description of your invention and then mailing that written description to yourself. This postmarked envelope supposedly acts to create the date of your invention as the date this written description was postmarked.

What is the cheapest way to get a patent? ›

An attorney can help you better understand what to expect in your situation. The cheapest way to get "Patent Pending" status is to file a provisional patent application. All that is required is a detailed description of the invention, an informal drawing, and a synopsis of how you came up with the idea.

How long does it take to get a patent approved? ›

According to the USPTO, patents take about 22 months to become approved. However, this may be expedited if you're eligible for a prioritized review, also known as Track One. This patent review process is shorter and takes about six to 12 months.

What to do with people who steal your ideas? ›

Don't look for revenge

If they admit to stealing your idea and apologise, accept the 'sorry' and move on. If, however, they deny it – reiterate how you saw the situation unfold and politely ask that they refrain from idea theft in the future.

What do you call a person who steals ideas? ›

According to the Merriam-Webster Online Dictionary, to "plagiarize" means. • to steal and pass off (the ideas or words of another) as one's own • to use (another's production) without crediting the source • to commit literary theft • to present as new and original an idea or product derived from an existing source.

How do you protect an idea? ›

  1. How to Protect an Idea.
  2. Avoid Revealing Too Much.
  3. Use Non-Disclosure Agreements.
  4. Apply for a Provisional Patent.
  5. Trademark Your Name.
  6. Research the Recipients.
  7. Follow Your Instincts.
  8. Document, Document, Document.

Can someone sue you for using their idea? ›

Under US Copyright law, you cannot sue if someone stole your idea. Copyright law does not protect ideas. It only protects the expression of that idea.

How do you register an idea? ›

The Filing Process

You can start this process through the USPTO website: On the navigation menu, click on “Patents,” which will take you to a submenu with information and options related to patents. From there, click on “File Online in EFS-Web.” This will bring up a form that you must fill out to register your idea.

Where can I share my ideas? ›

Blogs are great way to share your ideas with other people. You can reach people you know through your writing, as well as a wider audience. You can also try other types of social media, such as networking sites, micro-blogging sites, or video sites.

Does Google pay for new ideas? ›

Google uses that revenue to pay for the rapid prototyping of new ideas, which often grow into new sources of revenue. This simple model has allowed Google the freedom to undertake the projects it wants even if the return on investment (ROI) isn't immediately clear.

How much is my invention worth? ›

Unfortunately, there is no magic formula for determining this. The value is determined by whether the invention is patentable, by the amount of money you can make through selling products or services under the patent, and by any licensing fees you can obtain from others interested in your invention.

How much is an invention idea worth? ›

Unfortunately, there is no magic formula for determining this. The value is determined by whether the invention is patentable, by the amount of money you can make through selling products or services under the patent, and by any licensing fees you can obtain from others interested in your invention.

How much royalties do inventors get? ›

The average royalty for licensing an invention is 3 to 6 percent of the product's wholesale price, which is the price the company charges the consumer. If you have a profitable product and choose the right manufacturer, a licensing agreement can be a great way to make money from your invention.

Can you get paid for patenting an idea? ›

A patent which grants ownership of an invention, but it won't pay you. There are a few ways you can generate a profit from your idea. A patent is an important document which grants ownership to an invention. However, simply owning a patent won't generate a dime for the inventor.

Do inventors get royalties? ›

Unless an inventor decides to manufacture their own invention, they usually will obtain income through royalties from licensing the invention to other companies. These entities control the manufacturing, distribution, and marketing processes. Royalties are usually measured in terms of net sales.

How do I get investors for my invention? ›

Grants.gov is the best place to start. It lists many opportunities available through the federal government. In particular, Small Business Innovation Research (SBIR) funds inventions for startup, development, and commercialization phases.

How long do invention royalties last? ›

Patents usually expire 20 years after the date they were filed.

What is a normal royalty rate? ›

Generally, the standard royalty rates for authors is under 10% for traditional publishing and up to 70% with self-publishing. That's right. In the example above, self-published authors make over $24,000 more than traditional authors for the same number of books sold.

What patent makes the most money? ›

What is the Most Valuable Patent?
  • Velcro textile fasteners. The Velcro textile fastener was patented in 1958. ...
  • Morse's valve. Morse's valve is a complex invention that combines both tangible and intangible elements to produce a valve. ...
  • Paul Brown's valve. ...
  • Bell's valve. ...
  • Jaap Haartsen's Bluetooth invention.
Aug 3, 2022

Can you make a living selling patents? ›

It is possible to make money from patents, but it typically involves an agreement with a third party. These agreements require careful drafting and should clearly identify the patent rights concerned. These agreements should be registered with the relevant authorities to increase their legal benefit.

What is my patent worth? ›

Market Approach to Patent Valuation

This method entails determining what a willing buyer would pay for comparable property. In other words, the patent's value is roughly equal to the value of previously sold and purchased similar patents or patented products.

How much does it cost to patent an idea and put it on the market? ›

While the costs of an application vary depending on the representation, the total costs run from $5000 to $8000. These costs incorporate attorney's fees associated with drafting and filing the patent, as well as USPTO filing fees. These fees typically cost between $360 and $720, with examination fees totaling $170.

What is a license for a new invention called? ›

What Is a Patent License? A patent grants its proprietor the right to exclude others from utilizing the patented invention, while a patent license reflects utilization rights obtained by an investor for that patent.

What does B2 mean after a patent number? ›

No previously published pre-grant publication. B2. Patent. Having a previously published pre-grant publication and available March 2001.

Does my company own my invention? ›

While not always cut and dried, intellectual property created within the workplace context is typically deemed to belong to the employer, not the employee, even though the employee is the creator or inventor of the work in question.


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