Hello Andrea,

First of all, congratulations on the G7!

Please see the following FAQ on the support site which gives you a Live Product Search timeline:
http://support.edisonnation.com/faqs/live-produ...

Hi Marla,

Although I am very excited will I have to present my product at some point (it’s confusing) and to be accepted does this mean that the manufacturer/s have to want to buy the idea? I realize it could take up to 6 months to find anything out, but does this mean that there is still a chance that it won’t make it at all? THANKS!!

Hello Andrea,

Please see the following FAQ on the Support Site which will explain the 8 Steps of a Live Product Search:
http://support.edisonnation.com/faqs/live-produ...

Thanks, I got my answers!

No problem : )

i am curious, if i was selected as one of the finalists, can i negotiate the advancement? I know that it says a minimum of 2,500 will be advanced to you but can we maybe negotiate it for a higher price? I also want to know if we do not like what is being offered by the company can we refuse to continue with that company? I have a great invention that will give a 40 dollar profit on each item. I already have suppliers lined up and the cost to make each product, but my problem is is having the money for patenting and etc.. I know if I would submit this product to Petco and they choose to invest in it it would only cost them out of 1 million products to be made roughly 4 million will be the cost and the profit will be around 40 million. I would love to get it out there and don’t have to do the work but i just don’t want to give it up for just a 2500 advancement. Any other ideas how how i can procede with my invention on getting it to the market and getting a little larger advancement fee then 2500? I don’t mind getting the 7.7 percent royalities, but i worked hard on this product for years and there is nothing out there like it. i have a finished prototype and actually used it to fix all the kinks, i just think i deserve alittle more.

Deanna,

I can’t really give you advice on your product, but since you don’t have the money to get it to market yourself, you will have to give up quite a bit if it’s chosen. I know, it stinks! I think I would think about it this way, it’s money you didn’t have before and who has the money to go out and do it themselves these days? Better to take some profit that not have anything at all. I think you would be quite surprised on how much you would make of 20 years…anyway, good luck!

I like to joke around, But on a serious note I feel priveledged to have submitted a few ideas here and am without a doubt planning to submit a few more. So quick question to any1 who can answer?.. If all G7’s are presented to LPS sponsors, am I to understand that the EN staff professionals were unable to uncover any prior intellectual property rights on my idea? If so that is soo friggin cool, and essentially equivilent to a master patent search for 20 dollars? right or wrong?

Hi William, Not certain what a master patent search is, but it is my understanding that the bulk of the time EN spends on a product is doing patent research. Keep in mind however that some LPS sponsors may not require the product to be patentable, but the product cannot infringe on patents still in force. If it was me and I was going to market or license the product myself, I would at least spend $250 for a patent search even if EN said the idea was a G6.

Master patent search is some word I just made up on accident, I think I meant to say expert or somethin like that? But anyway, point taken an thanx for the feedback! ps. have u given anymore thought to that joint venture??

Deanna, and other inventors.
I have seen this ‘gripe’ a few times. The cost which includes manufacturing, patent protection, patent upkeep, design, packaging, sales , business intelligence, competitive intelligence/analysis, ROI, pricing, cost analysis, profit margin analysis, marketing etc.. are extensive. Its great inventors devise and conceptualize. However, if you do not have the skill sets and funds to drive a product from the napkin to market, then why would you think you deserve more than a small percentage.
What about the effort time and failure rate? What about the insurance in case an end consumer decides to sue for malpractice? EN seems to provide the individual inventor a great avenue if you have not analyzed the cost and other extending product issues.