Some of the first people that had products that were picked up hopefully saw their $2500 advance by now… I don’t think any of the products have been sold long enough based on the standard contract payment times.

Pat, There are three or four active members here on the forums that have been chosen. You will probably here from Phil, Holly or Luis. They openly share their experiences here. EN is about a year and half old, so nobody has seen a check from product sales that I know of. It would take several months or longer to bring a product to market and then payment would not go to them until after the first year of sales (annual annuity). When the ideas were chosen, the inventor’s received the $2500 advance after the contracts were signed. The parent to Edison Nation, Everyday Edison’s TV show, has products on the market and I presume the inventor’s have or will soon receive their money.

Someday soon, maybe I will be able to answer your question with more authority :)

Put an idea or two in and give it a shot.
Best wishes to you
Chris

Colonel – If the annual annuity is based on first year’s sales, then what happens in successive years? Is there a new annuity each year or are funds added to the first annuity? Do you know how it works? Thanks!

Hi Patricia,

Here are several paragraphs from the Innovator Agreement that may help:

The Annuity Payments due shall become payable upon the following schedule:
i. The first Annuity Payment shall become due and payable on the first December
31st following the Effective Date, and shall be paid within 30 days of becoming
due.
ii. All subsequent Annuity Payments, except the final Annuity Payment, shall become
due and payable on each December 31st thereafter, and shall be paid within
thirty 30 days of becoming due.
iii. The final Annuity Payment shall become due and payable on the 20th anniversary
of the Effective Date and shall be paid within 30 days of becoming due. The final
Annuity Payment shall be the last Annuity Payment becoming due and payable
under this Assignment.
iv. Assignee reserves the right to make payments otherwise due under Section
2.A(i)-(iv) more frequently in its sole discretion.
v. Subject to the provisions of Section 3, a non-refundable advance on Annuity
Payments of $2,500.00 shall be paid to Assignor, within 30 days of the Effective
Date of this Assignment, which advance shall serve as a credit toward any Annuity
Payments otherwise coming due and payable.

Grantback Provision
A. If, on the Threshold Date, cumulative total of Annuities that have become due and
payable to Assignor by Assignee amounts to less than $100,000.00, then Assignor
shall have the right, upon written request to Assignee, to cause Assignee to convey to
Assignor all rights, title, and interests in and to any then-existing patents, patent
applications, trademarks, trademark applications, trademark registrations,
copyrights, and copyright applications of the Intellectual Property that is owned by
Assignee. Simultaneously with such conveyance, Assignor shall grant to Assignee a
non-exclusive, perpetual license in and to such patents, patent applications,
trademarks, trademark applications, trademark registrations, copyrights, and
copyright applications of the Intellectual Property that are conveyed. Such license
shall include the right to sublicense, and all of the provisions of this Assignment shall
continue in full force and effect to the extent not contradicted by this Section.
B. If Assignor does not exercise the right to conveyance set forth in Section 3.A within 1
year of the Threshold Date, then Assignor shall be deemed to have waived such right
to conveyance.
C. For the purposes of avoiding the conveyance contemplated by Section 3.A, Assignee
shall have the right to make payment to Assignor of any amount required to make up
the difference between the cumulative total of Annuities made to Assignor by
Assignee and $100,000.00. If Assignee exercises this right to cover the shortfall, then
Assignor shall not have the right to conveyance set forth in Section 3.A.

Best wishes to you.

Patricia,

I also just found this at EN support:

If a sponsor selects your Live Product Search submission, you will receive payments as described in your Innovator Assignment & Commercialization Agreement:

• 7.5% of NET REVENUES received by Edison Nation; plus
• 50% of LICENSING REVENUES received by Edison Nation; plus
• 40% of ASSIGNMENT REVENUES received by Edison Nation; plus
• 4% of BRAND REVENUES received by Edison Nation.

You have the opportunity to receive multiple payments.

The first opportunity for payment occurs if Edison Nation manufactures and sells your innovate product on your behalf. Under the terms of the agreement, you would receive 7.5% of any net revenues received by Edison Nation. Net Revenues means Adjusted Gross Revenues less the sum of all selling and fulfillment costs, fees and commissions, and returns and bad debts.

The second opportunity for payment occurs when Edison Nation licenses the innovation to the search sponsor. Edison Nation negotiates a licensing fee with the sponsor and pays you 50% of the revenues received from the licensing fee.

The third opportunity for payment occurs when Edison Nation assigns your rights to the sponsor. When the sponsor chooses your submission, then the rights to your idea are automatically transferred to Edison Nation. If the sponsor wishes to purchase your idea, then Edison Nation would negotiate a fee for the rights to your idea and assign those rights to the sponsor. You would receive 40% of the revenues received from the assignment.

The fourth opportunity for payment occurs when Edison Nation receives revenues from licensing a brand created by you. Brand revenues include the sale of goods that include your brand only, not your product. If a sponsor wishes to use your brand, then you would receive 4% of revenues received by Edison Nation from licensing your brand.

Hey Colonel,
Bottom line-EN will pay inventor $5,000 min per year for 20 years=$100,000

If at end of 20 yrs EN has ONLY paid $90,000, then inventor has the right to get back full ownership of Patent etc, but EN will still have rights to sell it and make money.
or
Inventor option is to except $100,000-$90,000= $10,000 payment to inventor as the difference and end this agreement at that time.

Utility patent is good for 20 yrs. After that anyone can reproduce.

I think I got that right, but anyone, please correct me where necessary.
d.

Colonel’s post from the EN support site outlines the correct payment structure. To review in detail the payment opportunities and minimums please download and review the Live Product Search Innovator Agreement and Live Product Search Innovator Assignment Agreement available on the following page: http://www.edisonnation.com/lps/faq

Here we go again….

NOBODY is making money in this depression/recession.

WATCH THE NEWS! The only businesses making money seem to be the ones that the U.S. government helps with a deal like cash for clunkers or some other bailout. Even Dubai’s economy went bust last week and needed billions in bailouts from another country.

Let me ask you…if car companies can’t make money anymore on a consumer necessity…who do YOU think can make money in this economy?

Maybe if you manufacture some magic puff dust that grants you wishes. If my Handi-Straps sales are practically dead around the world I can’t see any other invention making much either. Except for them damn Snuggies (I’m jealous) If you want to be in this field today your investment is for next year or maybe in 5 years…but NOT today.

Sorry if I may seem rattled…these disenheartening posts keep popping up by brand new members posting for the first time over and over every week or so and just seem to me to be a ploy by a certain competitor that plays “the game” like a child.

As for entry with Edison Nation, you should NOT enter if you think you can do better somewhere else that can have publicists on hand promoting YOUR invention to all medias, can get your invention under many executives for major retailers and manufacturers, can prototype your idea even if drawn on a napkin, can advertise for you, file a full patent application for you with most professional guidance…ALL FOR A 50-50 SPLIT!!!!!!!!!!!!!!!!!!!!!!!!

Now I’ve been in this field over 20 years. You can find some guy in an office somewhere that will help you license for a 50-50 split if he REALLY likes what you got but he will only make a deal with a manufacturer for you. NO help developing, NO help into retail, No help protecting your idea, NO chance of him helping you have a wonderful day seeing your name in the paper or a magazine and much much less than Edison Nation will do for the inventor…BESIDES being a fan and friend of ALL inventors.

People that complain about Edison Nation just have no experience in this field or are on a hostile mission If I am mistaken, so sorry to the new member, PM me and I will help you all I can…if you are from another source… STOP playing games and get back to your own business…PLEASE.

Ron Komorowski
Inventor of Handi-Straps
www.handi-straps.com

ddot dan, The way I read it the threshold date is at 5 years and at that point if annuties do not amount to 100,000 the assignor can exercise the grant back unless the assignee wishes to make up the difference to continue to hold rights

Hi Pat,

The Colonel’s info is great and Karl has got it right too. It’s $100,000 the first 5 years and at that point if it hasn’t reached that you have the option to take your idea elsewhere. EN does have the right to pay the difference to get you to that point if they want to keep working on the idea and selling it.

Also, the contracts for the show items are slightly different than the EN contract but very similar. I’ve got one item that will be on Season 3 and a second idea that is in development for the first ASOTV LPS.

It normally takes at least 18 months to get a product ready to go to market if all goes well and you are pushing like crazy. EN is just to new for anyone to have seen anything payment wise beyond the $2,500 advances. Between the time it takes to get it ready to sell and then only one annual payment we just aren’t there yet timing wise.

Once you win an LPS and your idea is being developed you will receive quarterly updates letting you know how the sales are going. They then make a single payment in January based on the sales figures for that year. The amount of money your receive is based on the contract percentages and actual sales for the year. It’s not all based on just the first year. It will go up and down as sales go up and down.

Hope that helps.

Ouch Taiwan and China??? Ron’s Handi-Straps are proudly made in the good old U.S. of A……. ;)

Derek,

Do you have any contacts in the Australian HVAC market?

We have some existing distributors in Australia and New Zealand but are looking to expand.

Dale

www.FlexRight.net

Thanks,

Ive been looking for this information everwhere, I was wondering what the catch was. I figured that they would take a percentage but it is quite alot if you have a proven product. If you have a napkin idea then its much more fair. Dont get me wrong its a great opportunity for people who have tried every avenue and had no luck but some ideas are so good that you can do it yourself. I am first going to try to get my idea to market myself that way I wont need to split it, why split it if you dont have too.

I think they should add a performance contract, if your product makes 100,000 in 5 years they should get a larger percentage, if your product sells $20,000,000 in 5 years they should get a smaller cut in my opinion. Why do I say these things? Well because it would entice inventors with great products to not try and take it to market themselves. In essence better ideas would make it on the show.

I do like the fact that you can give them an idea they come up with a product that you wouldnt have been able to develop on your own and still give you royalties for it. For example, that bag carrier from season 2, though the final product carried bags it was a significant departure from what the guy brought in. Though I havent heard anything more from that product I thought it would be a good idea for places like New York, Europe, South America and Asia where people walk to the market to get groceries.

hi Mark- oops, I mean sexy beast(in your dreams) funny how this post comes up after this long.Convenient, don’t you think?

I know MANY people in the high end of this industry that have nothing bad to say about EN…actually they use this forum to promote what they have to offer inventors(without being deleted). So think what you may but I would suggest you have nothing and are in dire need of competing with EN. Like I say, I know many at the top..Who do YOU know? no need to attempt…I know the truth ;-)

I suggest you have NOT been looking for this info everywhere, but I have to say, I am a huge Phillip Avery fan!

LOL sexy, asked the wife..again- in your dreams.skin cancer is in no way delicious. I love people expressing their opinions but after reading this forum for so long I can’t help but find the similarities between you and Mark R, Sure you can find him if you have been here more than once ;-)again, I’m sure you already know this, given your reply.

http://www.edisonnation.com/users/johnnygee

johnnygee..aka mark reyland ;-)

Sexxxy Beast…welcome to EN!! Sorry about “johnny sortof”…he has had some beef in the past with Mark, I think…and has also accused me of “being” Mark too!! LOL! He is the one posting under different names!

thanks sherri! I guess what you meant to say is that Mark R IS Johnny Gee :-) Actually, I hear from a few pros in this industry that Mark R is a FEW personalities in this forum. I just have to ask…why would a pro have so much time to do this? ;-)) no need to answer Sherri, I have heard from a few who have been ripped off ;-) did I mention I have heard this from a few people in high places. good luck you…“sherri” ;-)

Yes, welcome Sexxxy Beast!
I didn’t know that, Sherri!… that sort of Johnny called you Mark too!! LOL!! omg.
We’re all Mark!!!! mooohaaa haaa haaaa.

Ok ok… I understand that there have been bad vibes in here in the past and some people have been hurt or offended or maybe even tricked. I’m sorry if that happened. I’m also sorry if I’m not tuned in or I’m making it worse. I just think it’s so FUNNY!!! The idea of fake people in here… lurking… and typing stuff. oooooh. scary. lol!!!

nahhh Jane you pay a monthly fee. I work within this industry. The creepy crawlers that have no connections come to sites like this ;-) I have connections. I use to not have. Others lurk in places like this . Take it or leave it, I really don’t care. I pay it forward. I have no guilt if I say it and you don’t take it as it is given..take care . PS Am I the only one who love Eddie? LOL…brilliant man :-)

They had quite the drama a while back, Jane..I went back and read that thread…But jeeze, let sleeping dogs lie, Johnny! You made me feel pretty weird when you accused me of also being Mark..and did you ever think you might be WRONG?? Why should us new folks here trying to enjoy and learn things on EN have to be punished with something weird that happened in the past? Maybe someone should trace your IP address too!!

I got carried away, Johnny, but I do that sometimes. I read it all in here and I try to take the best from it. I’m learning and I know I don’t know what I don’t know, if that makes any sense. I don’t work in this industry (beyond EN), so I’m green. You may have some inside info that is beyond me, but that doesn’t keep me from enjoying the show! Why not enjoy it? I mean… LOL!!! I laugh just at the thought of a double agent scenario in here. ok. I’m over it…
LOL!!!!!
now I am.
hmmm hmm haahahahahahaha. ok now.:-)

jane you are having fun :-) you are lovely :-)) You are green, as you say. Love that! Have fun and God bless my friend!

Ask Tania Reynaert Mark’s prized student to come in and defend him. I bet she does not.

I guess the point I trying to get at it this…This is En’s site and they are public. For that I trust them. The creepy crawlies that come in there don’t take the time to make their own sites. That’s something to consider.

PS Sherri I will GIVE you my IP addy if that would help you ;-)

Thanks for the info Sherri English and Jane Jenkins,

I am apparently the master of disguise Mark whatever and I’ve just been foiled again in my plot to take over the world by Johnny Nobody….. lol I think this Johnny Nobody and Mark whatever need to move to Canada and get married already. I hear they let everybody get married there, though I do wonder if its legal if the couple is of two different species, especially if none of them are human and have the mental capacity of a 5 yearold!

I dont even bother reading his posts anymore as one would find more relevant and interesting information if they closed their eyes turned around and mashed the keys of the keyboard with their butt cheeks. Sadly we all dont live in the world of Johnny Nobodys as I feel that randomly mashing the keys with ones buttocks would make me the next Shakespeare in his world ;).

Now johnny you singled me out and provoked me to say all those things above. Unless you have PROOF you have no right to accuse anyone in here of anything. You say this Mark guy is so bad, but you clearly provoke people. I assume he is banned thus he creates new usernames but you also should be banned because nobody can expect a person to ignore you after you reply to EVERY post I made with offensive comments. In your own words "but after reading this forum for so long " clearly you spend way WAY too much time here. Your clearly are out of control and I WILL be reporting this. Next time keep the comments to yourself.

WOW…ya take one day off to do yard work and come back to this….

I am Mark Reyland, and for those of you interested in inventing I have no doubt that you have read (and maybe even learned something from) my posts. Just like high school forums like these are rampant with what people think is the truth. The problem is, it rarely ever resembles the truth. Let me say for the record – NONE of you know me, and none of you know the circumstances behind the trash people talk – so please be adults and talk to only those things you know for yourself.

I help inventors – it’s what I do, I have never, and will never, rip someone off. You can look high and low and you will never find a novice inventor that has had to pay me a single penny for my help. That being said, you will find many inventors who have spent hours on the phone with me talking about the viability of their inventions, and many more who can hold prototypes in their hands that I had created for them at MY cost without any expectation of return.

If you have something that is bothering you, please, just ask me. I will be happy to tell you the side of the story you are obviously missing.

Mark

Is this really Mark;)

Yep…the one and only. :)

I have been on this forum since the beginning. I can verify that there was indeed a period of time where people were using alter egos and there was some downright disturbing behavior going on. I won’t say who was involved. I’m sure people can figure that out for themselves. I would like to believe that sort of thing is no longer going on. But, I have learned from others’ mistakes during that time to be very careful about who you trust online. Things aren’t always as they seem. Proceed with caution in your relationships on any online forum.

Margaret Pryor, Does this mean I should cancel my Eharmony account?

Yes! LOL

Good advice, Margaret!

If you find the idea of people creating alter egos funny (like I do), laugh and be entertained. Or some may find it sad! (It is cowardly and juvenile, imo.) Don’t go into any kind of working relationship with anyone unless you have a long track record to review and recommendations from others. You’ve got to use common sense, of course… but… LOL!!

It ALMOST makes me want to try being someone else in here for a day. I could act like I know something! Their alter egos play innocent, bringing up old arguments for the sake of arguing. Mine could be a brilliant patent attorney working at the USPTO and giving wonderful advice. yep right. Don’t think I could pull that off! And all of it would be too much trouble.

Who would you be? :-) I just can’t take this seriously… lol
Sick sense of humor, I guess.

I remember when I first came to the forums as a “generic-head”…the first to reply to my posts were Colonel and Reddawg. I am so very grateful for that because if I was first encountered here by another “generic-head” trying to accuse me of being someone else, I don’t think I would have stuck around to find out what EN was all about! I chanced upon EN by accident when I was looking for a product (Hot Diggity Dogger-LOL) from Hammacher Sh….something or other, I couldn’t remember their name (then or now!) and came upon an old posting for that LPS with them when I googled, I was intrigued and found the EN website!

Mark, I gotta apologize for a comment above when I talked about you getting hitched in Canada. I just realized that I was being offensive to you and you did nothing to me. It totally escaped my mind when I wrote that comment that id be offending someone else.

I am new here and have no right to judge who any of you are, I was merely going on the impression johnny gave of you. Thanks for having a cool head about everything.

PS: I do plan on changing my avatar soon!

I like it Sexxxy Beast!!..I hope I didn’t offend you with my post either?! It took me a week I think, to figure out the avatar thing and I’m very sorry that you had a bad first encounter here w/Johnny Sorta, Dev or whoever this is!! I don’t know why the strange posts always seem to occur on the weekends here. I also hope EN does something about this other “imposter” poster who likes to stir up trouble and once again, welcome to EN!!

No problem – I learned long ago to throw out all the things said on this forum except those related to inventing.

Besides, those who throw rocks rarely have the courage to show their face. I know who I am, and I know what I’ve done for inventors – and so do many who may on this forum not talk about their experiences for fear of being targeted like I have.

In the end, those unstable (and yes, there are some on this forum) people simply throw rocks and run back behind the bushes – Sad little people.

“Has any member of this site made money from the ‘13’ chosen products on EN?”

POSTED ABOUT 7 MONTHS AGO BY THE COLONEL…
“…There are three or four active members here on the forums that have been chosen. You will probably here from Phil, Holly or Luis. They openly share their experiences here…”

• Well, to clarify the Colonel’s comment here…Technically, that’s incorrect! NONE of the aforementioned names were chosen as a result of Edison Nation’s Live Product Searches. They are all part of Everyday Edisons, not Edison Nation’s LPS’.

Countdown to censorship deletion…3…2…

I almost hate to jump back into this topic, because it kinda got side-tracked.

But Phil, Luis and myself all have a G8 from an Edison Nation LPS. I am still waiting for my LPS product to hit the shelves. Not sure if it will at this moment, only time will tell. Nothing in life is a sure thing, not even a G-8!

I totally agree with Mark, well said!! Too many people tend to “jump the gun” and get way too far ahead of themselves and forgetting the fact that EN is doing this for real INVENTORS. If you don’t have the patience whatsoever, then EN is NOT FOR YOU, therefore you should consider playing the lottery instead. Business is serious business – not to be harrassed with!!

If I have to wait 2-5years for my share of success, so be it; it will be well worth the wait and I am going all-the-way!!! Got my whole life ahead of me.

I ENJOY SAILBOATS MORE THAN I DO SPEED BOATS. So, which boat are you on?

Fact I’m new here for over a month, I have found some members to be ignorant or obnoxious and do my best to avoid these forums. I wonder if most here are 25 yrs old and younger?

Plus, I’m proud to show my face and very proud to be a GOLD MEMBER!!

I haven’t hit this thread, so after all that was posted above, it looks like its mellowed out. Now, since this thread is totally a waste of time if our community moderator would so kindly step in…

I’ve seen informative posts get deleted, how about the cr@p

SeXXXy Beast??? Are you for real? Sounds like a porno collector or sex predator, you must be in the wrong department here buddy!

Hey everyone,

I’ve deleted all the posts that are in violation of our terms. If you had an opinion about Edison Nation, you can express it. We only delete items that are in direct violation of our terms of use.

Thanks,
Kelly

I have no doubt it will continue

Mark

All posts that are removed by community moderators that are not in violation of the terms are re-instated. Any community moderator that abuses the privilege has those privileges revoked. We can see who removes posts, and we take action accordingly if the items are not in violation.

Thanks. I hope everyone is having a great Memorial Day!

Kelly

That’s nice Kelly – then there are several posts and threads that should be reinstated and a community moderator that should be fired. – That’s if you mean what you say and are not just pandering – although I suspect you are since you have not fixed the problem in all this time.

Then you should apologize to those authors who were the victims of EN censoring.

Mark

Hi Mark,
I can’t reinstate any posts until I’m back in the office on Tuesday morning, but all posts that are not spam will be reinstated,
Thanks!

Kelly