Invention Companies and the Invention Industry

Invention Companies and Invention Industry Revenues

$300 million.  Estimated annual revenues for invention promotion companies.  “If you have ever seen one of those commercials for help with your invention, beware. Some and most of those companies are not real. In fact invention promotion companies have a track record is terrible. So if the success rates are so poor, why are these companies raking in the dough at $300M/year?”  Invention promotion companies. Invention submission companies.  (Dr. Natalie L. Petouhoff quoted in “Why Invention Submission Companies Are Still In Business …,” InventorSpot, February 4, 2008)

$300 million.  Estimated size of the independent inventor industry.  “The business of patenting, promoting, and marketing products by independent inventors is a $300 million industry, estimates Bonnie Griffin Kaake, executive director of the nonprofit United Inventors Assn. Indeed, there's a host of services to help independent inventors turn their ideas into sales. They range from courses on how to sell inventions to online marketplaces that match innovators with corporate buyers or companies that buy inventions outright.” Invention promotion.  Invention marketing.  (John Tozzi, “How to Sell Your Invention,” Business Week, September 12, 2007)

$14 million.  “An estimated $14 million a year falls into the hands of companies that for considerable fees promise to guide inventors through licensing, patenting and marketing…”  (Caryne Brown, “Making money making toys: how black inventors are bringing innovative ideas to the toy market”, Black Enterprise, November 1, 1993)