Avoiding Suspicious Activity – Inventors, Be CAUTIOUS!
“There is no greater fraud than a promise not kept.” – Gaelic Proverb
Fraud is everywhere. Lies, deciet, scams – it’s all around us. Sometimes we may see an opportunity that is too good to be true, and more than likely, it typically is. Take a look at this infographic (courtesy of http://www.hongkiat.com/blog/internet-scam-hotspots-infographic/).
Understand, though, that there are ways to make sure you aren’t being scammed. One of the main reason why scam artists get away with their tactics is because consumers don’t do enough research. Before you say yes to anything, no matter how big or small, know the benefits (or even the consequences). Property can be stolen right from under your nose if you aren’t careful.
That’s where inventing scams come in. Our founder of Source Direct, Ed Mauro, was a new inventor back in the late 80’s and witnessed every scam and setback you can think of. “Come to us and we’ll manufacture your product and have it on every shelf, in every store, in the entire USA!”, before they’ve seen the invention or concept! Some invention support/promotion organizations alike to us (Source Direct) may turn down ideas – not every single invention will be a winner in the eyes of the organization. Ask for a complimentary consultation with Source Direct to see if your product may be a fit!
Over 25 years has passed since his first invention, and now Ed has brought his expertise to all Source Direct clients to make sure that the development of their product is seamless and non-stressful.
A few red flags of shady Invention Production Companies could be:
- Saying YES to your product idea before seeing a prototype.
- Asking for a large sum of money up front without a promise of services.
- Promising that the item will immediately become a success – it’s all based on the market, economic climate, supply/demand, and product quality and usefulness.
- Not having any past successes.
- Lacking a website or a phone number associated with the company.
What should you ask the Invention Production Company for?
- Client Testimonials/References (for applicable clients – some may have confidentiality agreements).
- Website/Phone Number/Email
- Signed contract or proposal, clearly stating the project outline and expectations.
- Mailing Address – to an actual location (a red flag could be a P.O. box).
- Marketing samples from previous inventions.
Here are a few scam prevention articles that have been published for the benefit of aspiring inventors:
- http://inventors.about.com/cs/avoidingscams/ht/Invention_Scams.htm
- http://www.ipwatchdog.com/inventing/avoiding-invention-scams/
- http://www.consumer.ftc.gov/articles/0184-invention-promotion-firms
The faulty and shady techniques of inventor support organizations inspired Ed to create Source Direct, a resource for inventors who are looking for support from concept to completion. Source Direct is a member of the UIA (United Inventors Association of America) and the Inventorz Network. Past successes, products, and our mission can be seen on TheSourceDirect.net.
Do you have an idea for a product? Call us today – 888-373-3876, extension 212!
We offer free consultations! Our experts would be happy to hear from you, and find out more about your product. Ask for Nathan!
