Frequently Asked Questions
1 - What makes Inventarium different ?
There are three important differences between us and other companies. Firstly, we are one of the few companies that can bring a product from mind-to-matter-to-market. Many may promise this but don’t deliver the promised services. They also farm out most services when we do it in-house. Secondly, we are brutally honest with your idea because we stand behind what we suggest. When we say a product has potential we will help you market it. Thirdly, the owner is a true and successful inventor who understands the frustrations and problems with obtaining patents, negotiating licensing deals and deciding on manufacturing options. His products have sold millions of units.
2 - Who are the people at Inventarium ?
Most of the staff at Inventorium have been part of the company since its inception. The engineer has been with Inventorium from the beginning while the patent writer, Mr. Gilles Boulanger, has worked with the company for 6 years. In 1999, Ms. Morin, Mr. Paquette’s wife retired from the financial sector and took over the administration of the office in 2001. Ms. Morin is also a full partner in the business. In 2002, the 3D designer joined the company.
The personnel is completed by a marketing expert (34 years of experience) added in January 2007. Another engineer was added in 2007 whose products have sold for more than $10,000,000. Although everyone has very different talents and expertise, they all have a few things in common—a passion for inventions, expertise in their field, and brutal honesty.
3 - How many patents and customers does Inventarium have ?
Since 2001, close to 6,000 files have been opened and paid for by inventors.
From these kits between 3,000 and 4,000 files have been opened and close to 2,500 inventions evaluated. These evaluations include 300 games and 50 trademarks.
The files have led to 1,500 patent searches, 600 provisional patents, 200 US and Canadian patent filings and 12 international patents (called PCT) which included European, Japanese, Australian, Chinese and Indian patent applications.
4 - Why are Inventarium’s prices lower than most companies ?
There are two reasons that explain our pricing. First of all, everyone works in-house which lowers the overhead costs. Other companies take your project, farm out what they can’t do and then add on their margins. The second reason is our ability to offer many follow up services which other companies can’t or won’t execute.
5 - Does Inventarium work on commission ?
In most cases we don’t. However, when we have helped individuals and companies take their product from concept-to-completion, they sometimes ask us to take care of it because of a lack of time or personnel. This could mean negotiating a licensing deal, marketing the products through conventional channels such as Wal-Mart, Costco, or order taking. In these cases we will consider the option but it is never at the beginning of a project when no one knows if the product will be profitable or not.
We never work on commission until the client has gone through the steps that indicate there is a potential profit. Otherwise, we would be wasting our time and theirs while damaging our credibility. When it is best for everyone to work on commission, we will consider it.
6 - What are a utility, design, or plant patents, trademarks and copyrights ?
Utility Patents may be granted to anyone who invents or discovers any new and useful process, a machine, an article of manufacture, compositions of matter or any new useful improvement thereof. It gives the owner the right “to exclude others from making, using, offering for sale or selling the invention throughout the territory the patent was granted. They usually involve protection 20 years for utility patents.
A Design Patent may be granted to anyone who is looking to protect the shape, pattern or ornamentation applied to a useful article that is mass-produced. It gives the owner the right “to exclude others from making, using, offering for sale or selling the invention throughout the territory the patent was granted. Design patents are protected for 14 years in the US and 10 in Canada.
A Plant Patent may be granted to anyone who invents or discovers and asexually reproduces any distinct and new variety of plant. It gives the owner the right “to exclude others from making, using, offering for sale or selling the invention in the territories the patent was granted. Protection is for 17 years in Canada and the US.
A Trademark is a work, phrase, symbol or design, or combination of words, phrases, symbols or designs, which identifies and distinguishes the source of the goods or services on one party from those of others. These include words, slogans, colors, sounds, pictures and other symbols.
Protection in Canada is 15 years and is renewable for 15-year periods as long as the mark is in use. In the US, the same rule applies but in 10-year increments.
A Copyright is legal protection for an artistic endeavor. In its simplest terms it gives the owner the right to copy a work and excludes others from doing so. Board games, computer programs, literary works, dramatic words, choreographic, pictorial, graphic and sculptural works, audiovisual and motion pictures, sound recordings, and architectural works are protected for 50 years after the death of the author.
7 - Can I do my own patent search ?
Every one can try and turn it into a learning process. However, no company or serious investor will invest in a patent that wasn’t done professionally or by someone with years of experience. They want assurances that the idea does not exist anywhere.
8 - What are the advantages of a provisional patent ?
A provisional patent allows inventors to:
- protect their idea while testing the potential of the product
- raise capital
- obtain a first-to-file date which is important outside of the US
- make modifications to the product, if necessary
The requirements are not as strict and if you don’t have time to prepare the full disclosure it establishes an early file date. Eventually, a regular patent application must be filed within the 12-month period from the filing date of provisional patent. If not, you lose the early file date.
9 - Patent Pending means what exactly ?
This means that a formal application has been sent for a patent and specific claims have been made. The patent is under examination or prosecution by the patent office. To print Patent Pending on a product illegally is a criminal offense and punishable by law.
10 - Has Inventarium helped inventors to deposit patents worldwide ?
Yes. See question 3.
11 - How do I protect my patent internationally ?
There are a number of treaties relating to patents that help and simplify the process. Here is a brief summary. When still in doubt about which countries and when you would like to protect your patent the Patent Cooperation Treaty (PCT) makes the process simple.
The PCT provides a central filing procedure and a standardized application format, making it possible to file a patent application in 168 countries (as of this writing) in your native language.
It must be filed within 12 months of filing an application on the same subject matter in the US (or your native country). The application receives the priority date of the original application in all countries that the applicant designates on the application. This priority date is important because most countries work on a first-to-file not a first-to-invent priority.
However, a PCT application never issues as a patent. To obtain a patent, a patent application must be translated, filed, and prosecuted (or examined) in each individual country and fees paid to each country. Filing in a particular country, say France, is called entering the National Stage.
When ready you can file with the European Patent Office which covers more than one country. This allows you to be covered with only one application being necessary.
Another treaty is the Paris Convention for the Protection of Industrial Property provides guarantees the same rights in patent and trademark matters that it gives to its own citizens. There are more than 120 countries that adhere to the Paris Convention.
Manufacturing/Prototyping
12 - Are manufacturers open to licensing ?
Some are and some are not. There are companies that have the NIH disease (not-invented-here). Part of the research we do is filter out the ones that don’t want to deal with inventors and those that do. Don’t forget that companies also have new products they have tried to sell and couldn’t. So when you offer them a new product, proof of sale is of the utmost importance. It gives us bargaining power.
13 - When would you suggest using an overseas’ manufacturer ?
We recommend overseas’ manufacturers when local and national manufacturers cannot produce the product at a price that is needed to get it to market. In that case we think of overseas as an option. Companies usually ask for 30%-50% down with the purchase order and full payment when the work is completed before shipping to the US or Canada.
14 - What are some of the advantages of having a prototype ?
Having a prototype enables you to obtain a manufacturing quote, it shows how the product works, and you can do a trial sale. It allows everyone to see exactly what you are selling. If there are flaws in the design it will be evident with the prototype.
15 - Is packaging important ?
Yes, very. A strong package can double or triple your sales. When customers are in front of a choice, usually packaging wins the day. Other considerations are store theft, breakage during transportation and shelf space.
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16 - Is it easy to find financing ?
No. Usually investors or companies want proof of sale or potential before investing. When there is a finished prototype and companies show an interest through potential sales finding financing becomes easier.
17 - What are the major mistakes of inventors or as we call it inventor suicide ?
- Being paranoid that someone will steal your idea
- Believing the world needs your product
- Doing everything yourself
- Underestimating the work involved
- Not being able to take constructive criticism and make changes
- Thinking large companies can see potential from a design or napkin
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