Further, some promotion firms may claim to have been retained by manufacturers who are looking for new product ideas. These kinds of claims can often be false and exaggerated. Therefore, before signing a contract with an invention promotion firm who claims special relationships with appropriate manufactures, ask for some proof. After giving your invention a preliminary review, a firm might tell you it needs to do a market evaluation on your idea, which may cost several hundred dollars. Such reports from questionable firms often make vague and general statements and provide no hard evidence that there is a consumer market for your invention.
Reputable company reports, on the other hand, deal with specifics.
Before you pay for a report on your idea, ask what specific information you will receive. Some invention promotion firms also may offer you a contract where they agree to act as your exclusive marketing and licensing agent. On the other hand, reputable licensing agents typically do not rely on royalties from the successful licensing of client inventions and are very selective about which ideas and inventions they pursue. A request for an upfront fee frequently is another distinguishing characteristic of a questionable invention promotion company. If you are interested in working with an invention promotion firm, consider taking the following precautions before you sign a contract and pay significant amounts of money.