Commercialization of IP
Articles relating to business aspects of Intellectual Property
by Russ Weinzimmer | Commercialization of IP
Multiple class action lawsuits assert that InventHelp took millions of dollars from inventors, who got virtually nothing in return. According to the lawsuits, InventHelp has no meaningful interest in helping aspiring inventors develop and monetize their inventions. Instead, their business model is based upon receipt of Submission Service fees, and nothing more.
The lawsuits each allege a similar pattern of operation:
- Slick ads target naive inventors.
- Reputation Management company erases bad reviews.
- Incomplete Patent Searches and Boilerplate Patentability Opinions lure inventors into Submission Services Agreements.
- Inventors pay $5K– $10K for Submission Services which are not provided.
- Proprietary Data Bank filled with fake companies and inaccurate industry matches.
- No infrastructure to deal with companies interested in buying or licensing inventions.
- After months or years of silence, reappear in the guise of manufacturing companies asking for MORE more money.
by Russ Weinzimmer | Commercialization of IP
A Pennsylvania class action lawsuit alleges that InventHelp made false representations that consumer ideas were eligible for patents and misled them into purchasing services agreements.
The lawsuit claims that InventHelp’s purposefully incomplete patent searches and basic information package reports are part of InventHelp’s ploy to convince consumers that their inventions are marketable and/or patentable, and con them into signing contracts for more expensive Submission Services. The “Preliminary Patentability Opinions” claim that customers’ proposed inventions are eligible to receive patents, when, in fact, there often already exist “dead ringer” patents that would prevent these inventions from receiving patents.
by Russ Weinzimmer | Commercialization of IP
A Pennsylvania class action lawsuit claims InventHelp is a scam, preying upon low income people, and either does nothing or delivers subpar work.
According to the lawsuit, the InventHelp scam goes like this: At the initial visit, inventors are told their invention is original and potentially highly profitable, even when similar products already exist. Then InventHelp charges thousands of dollars to commercialize their invention, offering a high-interest loan if they can’t afford those steep fees. Once the money is in hand, InventHelp disappears and dodges calls for months or years. Eventually they resurface, claiming a company is now interested in their invention. After charging thousands more for licensing or manufacturing deals, InventHelp once again disappears.
by Russ Weinzimmer | Commercialization of IP
A New York class action lawsuit claims InventHelp bilked inventors into paying millions of dollars for invention promotion services that were not provided.
The two lead Plaintiffs tell similar stories: naïve, aspiring inventors who were lured by slick television and internet advertisements, told that their ideas were unique and potentially lucrative, then offered services to commercialize their ideas. They claim they were strung along by a series of seemingly independent entities that were actually acting in concert, including promotion companies, a money lender, patent attorneys, licensing companies, manufacturers and distribution companies, all of whom took their money and failed to deliver the promised services.
by Joe Carlen | Commercialization of IP
The result of over a decade of prototyping and testing, the ReeferShield is a system of straps and pads that protect and secure the doors of refrigerated semi-trailers, called “Reefer Units”, while making it easy for drivers to open the doors for servicing or inspection.
The ReeferShield inventors developed a unique solution to an industry-wide problem, and successfully pursued patent rights, resulting in an issued US Patent. Then, Senior Associate Joe Carlen implemented an ambitious data-driven commercialization plan that continues to deliver real success for the Hadleys as they market their new product to trucking companies throughout the US and internationally.
