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Mass Marketing
Entering the mass market such as Home Depot, Wal Mart, Sam's, Target, Eckerd's, etc. is a difficult task at best. The competition is strong, and the excepted paths to enter these markets are narrow. However, by working with advisors to these large chains one can have professional evaluations done on the marketability of your invention for very low cost, with an almost immediate market for your product if the reviews are favorable. This type of evaluation can easily be the least expensive way to bring your invention to market. If they like the invention or idea, they can take it all the way to market without the inventor investing any more time or money. The cost for this service is small compared to the chance to place your product in the mass market arena. Please note however, that the chances of success through this mass market channel is much smaller than some of the other methods presented elsewhere on this website.
MASS MARKETING EVALUATION: To have a Mass Marketing Evaluation conducted follow the 5 steps below. Step 1: Print a copy of our Non-Disclosure Agreement from the Paper Work section of our web site. Fill in all the blanks and send a signed copies to InventionMakerstm. We will sign and send a copy back to you. Step 2: After you receive your Non-Disclosure Agreement back, you can send us a detailed working description of your invention along with the InventionMakerstm Evaluation Fee (see prices). We will look over the material and send you our full evaluation and market potential on the invention, including problems we see with marketing the invention. We will also decide at this time if we want to pursue the invention further. If this evaluation turns out favorable then we go onto Step 3. Step 3: The next step is to do a Patent Search. If you already have a patent on your invention you can jump to step 4. If not, either you can do this yourself on the IBM Server or PTO Link found in the Web Links section of this web site, or we can conduct a Standard Patent Search (See Prices) for you. This step is optional, but highly recommended. It will help you in the long run by making it easier for the evaluators in Steps to determine the value of your invention. Also, during a patent search process InventionMakers can suggest design changes which will increase your chances of having a favorable review. We can also help with improving the inventions ergonomics and make it easier to manufacture. Step 4: If no other patents are found, it is suggested that a Third Party Evaluation be used to look at the invention. This is to get a second opinion on the invention and possibly catch any fatal flaws that could stop the successful commercialization of the invention. The Fee for this Third Party Evaluation (see prices) is small when one compares the cost of pursuing a "bad" invention. Approximately 5% of inventions reviewed by us make it pass this evaluation. Step 5: If a favorable evaluation is obtained from the Third Party Evaluators it will be time to sign a Royalty Agreement with InventionMakerstm before we continue on to the next step. This Royalty Agreement can be placed into action at earlier steps if InventionMakerstm adds significant design changes to the invention to make it marketable. You simply sign and return the original. We have a number of rates (see prices), but normally use a standard 35% royalty on money we generated from sale, licensing or other means for your invention. Step 6: Finally there is a nationally recognized Mass Market Evaluation that we recommend (see prices). This evaluation is referred to as the Third Evaluation in the FAST TRACK program. This final evaluation pulls a great deal of respect from marketers and manufactures. A good review on this evaluation is very helpful in locating potential licensers. To prepare for the evaluation a patent search, a well written description of the invention, and possibly a prototype are helpful in this mass market evaluation. Also having the invention patent pending at this stage helps in the overall evaluation of the product. The patent application is optional. If a patent application is not filed then at least an Invention Disclosure Document should be filed with the US Patent Office. This will help protect your invention while we disclose it to other companies and the evaluators. This service is included in the FAST TRACK Program and can be done by the inventor (see Disclosure Document Program). After we get a filing number we will help you send the invention information to the proper evaluating agents.
EVALUATION PROCESS: The evaluation process takes place in 3 distinct Evaluations: Evaluation 1: The first InventionMakers Evaluation is conducted by InventionMakerstm to determine if the invention should be pursued at all. InventionMakerstm will also suggest any changes that should be used to improve the invention's chances in the other evaluations, and prepare documents to disclose your invention properly to reviewers. Construction of prototypes, and independent testing may also be required at this stage. InventionMakerstm rejects approximately 80% of inventions at this stage. Evaluation 2: The second Third Party Evaluation is conducted by a nationally known screening company and will be a great assistance in convincing a manufacture to take an invention to market. Often their recommendation alone is enough to getting the invention noticed and marketed. Evaluation 3: If the second evaluation is favorable it is suggested that a Third Evaluation be conducted. This third evaluation is more expensive an is why we save it for last. However, this evaluation is world recognized and conducts a performance evaluation of the product using 39 question to determine its market potential. This evaluation can not be mentioned by name here, because of the highly regulated nature of this evaluation. Passing this evaluation with a good score will get your invention noticed by people with the connections to take your product to market. Less than 1% of inventions get a strong score for this evaluation.
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