“Steering Clear of Invention Scams”

This last chapter talks about different ways that other businesses will try to steal your idea and business/service and leave you without a dime. Now, the most important is to learn how these other companies do that and then avoid them. Here are a few of the main ways that I have already learned to avoid these copycats. The main step to avoiding them is to stay actively involved throughout the entire process from, “designing, prototyping, branding, packaging, manufacturing, and marketing”. Now as soon as you may try to take short cuts for instance paying someone to manufacture your product and not having them sign either a NDA or have your idea patent is where these problems start arising from. Another major way to avoid these scandals is to prevent verbal deals and promises. Making sure to get each progress step and decision written down on paper with a signature can help prevent this. One of the most shocking ways that you personally can get trapped is if they have you sign a Non-Discloser which would make you (the inventor) not able to talk about/ patent your own idea.

Two more important things that I have learned start with the patent. Getting a patent to early can put you in a hole, money wise. Making sure to hold off on a patent until the product can be profitable is very important.  Now one really interesting thing that a few copies where put in the book are called perfect product test. It is a very general test that can tell how “good” your product is by answering 10 questions which each have three option No- 1pt, Uncertain- 2, and Yes- 3pt. Now if this is answered honestly and correctly then this can test will give you an idea on how your product should be pursued. I plan on having 5 people who know my idea answer the question to see what the different answers come out as.