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Edison Insider Open Search Update
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Matt Spangard
Insider Points

Hi Everyone,
It has been a looooooong time since we closed the Insider Open Search. With 72 ideas still at G5 or G6 and one at G7, you guys deserve an explanation and some action.

First, a little history. The Insider Open Search was our way of kicking off the Insider Licensing program before we officially had the Innovation Fund in place.

We have been hard at work over the past year in trying to find good homes for as many of your ideas as we can. We knew this was going to be a longer process since there was not a particular sponsor and we’d be communicating with hundreds of different companies on your collective behalf. For that reason, our team decided not to move any of the ideas that we’re working on into G7 status unless they were very close to a deal because we didn’t want to tie up your idea for that long period of time (remember, you can opt out of all stages except for G7 and G8). Why some of the ideas were “parked” at G5 versus G6 is beyond me. The majority are currently on G5.

Please understand that while your dashboard was not moving, it does not mean that we weren’t diligently attempting to match it up and ultimately license it to the right partners.

We should have explained this a long time ago and we should have done a better job of keeping you guys in the loop on this one.

Here’s what we’re going to do. Over the next week or so, we’re going to move all of the ideas to G7 (so you get the points that you deserve). Then, we’re going to move all ideas to R8 (except for the current G7, which we hope to have good news on soon). Once we do that, we’re going to add your ideas to the Insider Licensing Program free of charge. We’re still investigating the best way to do that but most likely, we’ll opt your idea into one of the closed Open Licensing Fund searches and then immediately fail them. It’s not the ideal way to do it but it accomplishes our goal of officially moving your ideas from the Insider Open Search to the Insider Licensing Program. If an entry to the Insider Open Search blips on your dashboard, you’ll know why.

Just last week, we hired business development superstar Geoff Koch to lead and turn the volume of our Insider Licensing Program up to 11. Geoff’s first assignment was to pay particular attention to the 73 ideas that are still active in the original Insider Open Search. As far as Geoff was concerned, your ideas were already part of the program but I think we should make it official and at the same time at least bring some closure to that year-old G5 that you have sitting on your dashboard.

I’ll keep an eye on this thread today to answer any questions that you may have. Please accept my apologies on behalf of the team for allowing this to drag on without an explanation. Also, please be patient with our team as we go through the process of opting in all of your ideas into the Insider Licensing Program.

Thanks,
Matt

posted January 13, 2012 08:46 (
)


yankeeholli's Avatargold
Holli Homan
56,500
Insider Points

Didn’t hear anything yet but anxiously awaiting. Can’t wait to hear an update and especially some good news. EN—keep up the hard work finding a home for my idea. Holli

posted April 12, 2012 19:54 (
)
tjm's Avatargold
Tim Montgomery
39,750
Insider Points
Roger Brown is the new Licensing manager for EN maybe he can give a little info on his new job, i’m sure he is very busy trying to find as many homes as he can for every product that is in the licensing program ! it all takes time !!! TJM.
posted April 05, 2012 09:29 (
)
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Sarah Van Vlake
30,500
Insider Points

@Bucky Ketter Jr., not yet :)

posted April 04, 2012 16:54 (
)
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Fleta Sykes
68,000
Insider Points

Nope.

posted April 04, 2012 16:10 (
)
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Bucky Ketter, Jr
36,750
Insider Points

Hi everyone. I was woundering if any one had heard any good news for a licencing deal yet?

posted April 04, 2012 16:09 (
)
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Holli Homan
56,500
Insider Points

Keep up the good work and thank you for your diligence. : )

posted February 21, 2012 10:27 (
)
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Paul North
38,000
Insider Points

Crossing my fingers that you’re still in Carolyn!!

posted February 08, 2012 12:34 (
)
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Carolyn Carter
140,000
Insider Points

Matt can you tell me if my idea is still active or did I truly get the dreaded “X”? I am pretty confused now. Sorry.

posted February 08, 2012 07:42 (
)
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Bucky Ketter, Jr
36,750
Insider Points

Carolyn,
You might be in the same situation has Paul. See the thread were Matt explains to Paul that he might have a bug in is browser or maybe its cus hes not an insider anymore. Matt goes on to say that EN still see the star on thier side of it. Did you find that thread in this forum? I wish you the best.
Bucky Jr

posted February 08, 2012 07:36 (
)
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Carolyn Carter
140,000
Insider Points

Yep I was moved and had a star under my submission up untill today. I’m guessing my product just wasn’t matched up with a company. I really thought I had a shot this time b/c I moved on.

posted January 30, 2012 10:43 (
)
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Emily 123
86,500
Insider Points

Carolyn, did you carefully read through Matt’s post? All of us remaining in the Edison Insider’s Open Search Got R8s in order to put our ideas into the Insider Licensing Program. Is this the search your product was in? Do you have an Insider Licensing Program star under your submission?

posted January 30, 2012 10:24 (
)
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Ana Torres
49,000
Insider Points

Carolyn, sorry for the red X, but have faith and don’t loose hope, I will pray for you and your inventions,
Ana

posted January 30, 2012 10:17 (
)
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Marvin Blaine
859,250
Insider Points

Sending Good Vibrations Carolyn!!!

posted January 30, 2012 08:35 (
)
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Carolyn Carter
140,000
Insider Points

I just got the dreaded “X” – I am sooooo disappointed :( I swear every time I see an email from EN with your status has changed my blood pressure goes through the roof and I get some more grey hairs! I was really hoping that I would go all the way and I didn’t want to post b/c I didn’t want to jinx myself. Oh well I’m still in the Brica competition and my presentation is set for Feb 7th so if everyone could help me stay positive I will send good vibes for all the lucky ones who are still in this competition!! Thanks!

posted January 30, 2012 07:49 (
)
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jerry yoshida
44,250
Insider Points

Thank You EN! I truly believe that this will be a huge year for some great ideas and products. Just really hoping that I have one of those ideas or products! I just want to express my appreciation for the whole EN team for all they are doing for us inventors. Thank You!

posted January 29, 2012 13:14 (
)
tjm's Avatargold
Tim Montgomery
39,750
Insider Points
Yes i have two also , it’s because you put the same idea in the insider search and the inovation search also and it must have some kind of IP protection also! TJM.
posted January 27, 2012 03:29 (
)
creativesoul's Avatargold
Ana Torres
49,000
Insider Points

Yes, me too, wondering, why I have 2 stars in my submission, hope it means something very good, love and Blessings to everyone

posted January 26, 2012 21:55 (
)
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Sarah Van Vlake
30,500
Insider Points

Hi, I have a question….why are there 2 stars on my submissions page? Not complaining, just curious if it means anything. Also, I wondered if this company does any kind of focus group/study on the ideas that are submitted. Dan Lind asked a very good question about the IP review. I also am curious about that. Congrats to everyone for making it this far!

posted January 26, 2012 18:07 (
)
lupac's Avatargold
Dan Lind
32,000
Insider Points

Hi Matt,
Since submissions was parked in stage 6 and then moved on, can we assume they got the formal IP review? It would affect how I move this idea forward (or my own on via EN).

Also: Thanks for looking out for us and congrats to all who made it this far!

posted January 26, 2012 09:16 (
)
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Bucky Ketter, Jr
36,750
Insider Points

Never mind Matt, seems we cant edit submission. We were just going to tell the EN team that our product could also be installed on the excisting structures. Incase people wanted to add them or have them installed.
Thanks
Bucky Jr, Bucky Sr

posted January 25, 2012 16:00 (
)
bucky5's Avatargold
Bucky Ketter, Jr
36,750
Insider Points

Hi again Matt,
We updated our submission and was just woundering as to if the EN team would notice it? The update just states another advantage of our product. I just dont want to aggrevate the EN team with updates, being so far along. Just trying to help. :)
Thank you
Have a good day
Bucky Jr, Bucky Sr

posted January 25, 2012 15:45 (
)
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Matt Spangard
Insider Points

Sounds good, Frank.

posted January 25, 2012 05:50 (
)
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Frank White
38,000
Insider Points

Thank you Matt,

My first choice is always with EN, but if a outside licensing opportunity comes up, I

wouldn’t ask for an “update”; I would tell you what I have pending and with whom, and simply ask
“should I” or “shouldn’t I” proceed.

posted January 24, 2012 16:12 (
)
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Doyle Haverfield
39,500
Insider Points

YOU ROCK!

THX!

posted January 24, 2012 11:57 (
)
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Matt Spangard
Insider Points

Doyle, I think you might be looking at the wrong page.

You’ll see the star here: http://www.edisonnation.com/submissions

Not here: http://www.edisonnation.com/dashboard/ideas

Thanks,
Matt

posted January 24, 2012 07:35 (
)
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Doyle Haverfield
39,500
Insider Points

Matt,

Thanks for all the info. I understand everything, however, I am just like Paul —above in that I do not see the lucky star.Would you mind checking for mine as well?

Cheers,

Doyle Haverfield

posted January 23, 2012 20:37 (
)
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Matt Spangard
Insider Points

Holli,
Thanks :-)

Holly,
The feedback to your submission won’t show up because you are no longer an Insider but it reads the same as everybody else’s, which is as follows:

Please see our explanation/feedback here: http://www.edisonnation.com/forums/live-product...

Susan,
You’re welcome!

Paul,
I’m not sure if you are not seeing the star because of a bug in your browser or if it’s because you are no longer an Insider. Rest assured, we still see it on our end and you are good to go. If your want to opt your idea out at any point, just remove it from the system… but I would not do that unless you have lined up a deal on your end!

Janet,
Yes, just update your idea like you always have with new developments. You will not see updates to the scheduled presentations section of the search because that is for the overall search, not your particular idea. We will be presenting your idea whenever it is appropriate, based on who we are meeting with/calling on. We don’t have a place to update that info in the system for you and if we did, we’d probably have to stop the program because the additional overhead in managing those individual updates – and the inbound questions that would result from them – would hinder our ability to chase all possible leads.

Tim & Jimy,
Thanks for your support!

Frank,
I don’t see a problem with that as long as people don’t take advantage of it by manufacturing fake “deals” just to get an update, something that we’d catch on to pretty quickly, I’m sure. I’m by no means directing that comment at you, Frank, but our inventors love to try to work the system and I want to proactively stop that possible approach.

Carolyn,
I think that question might be worthy of its own thread because it differs for each person. If you are asking us, I’d say we start with our ever-expanding Rolodex and personal connections. If there are no matches, our Rolodex grows by the day so there’s a good chance we’ll come across one soon enough. If we don’t, we’ll get online and identify the right matches and figure out a way to put them in our Rolodex. When you get to a certain size in this business, nobody is more than a call or two away… it’s like the seven degrees of Kevin Bacon for business.

I hope I covered everything! I hope my short responses didn’t come off as curt – I wanted to make sure I got to everybody!

I do want to close with one comment – our Insider Licensing Program is a pretty new project and one that we’re always tweaking the software for internally. Ultimately, I’m sure we’ll also be tweaking the member side of it, too. I would like to find a way to provide more details to you guys without creating an unbearable burden on our team and will continue to push for that over the coming months and years.

posted January 23, 2012 14:29 (
)
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Carolyn Carter
140,000
Insider Points

I am definitely staying in this program and am keeping the faith that EN will find a great licensing deal for my product. But, I did have a question for all of you. How do you go about finding other Licensing opportunities – where do you start? I have two products, one is in this program and I would love to license it to other companies but I have no clue where to start. Is it appropriate that I ask this question here or should I start another thread. If anyone has any advice I’d love to hear.
Thanks!

posted January 23, 2012 06:51 (
)
let-them-fly's Avatargold
Frank White
38,000
Insider Points

I’m in the ILP via the FUND, so not associated with the thread’s subject, but I do have a suggestion
that would apply to either an X-FUND or IOS ILP recipient, if you would indulge me, Matt?

If while shopping our idea ourselves we come upon a pending deal, can we contact EN to verify
they don’t already have a deal in the works?
I mean, I’d hate to opt out of the ILP to sign a deal with some medium sized company, only to find
out EN was in final negotiations with Disney or some such mega entity.

Thanks in advance.

posted January 23, 2012 05:26 (
)
jimy's Avatargold
Jimy Moore
53,500
Insider Points

Thanks for the update Matt,
Actually I don’t believe Edison Nation owes anybody anything but being putting our entries into licensing program totally. This whole ride ahs been and IS exciting. Go get’em Geoff!!!! Thanks again for everything.

posted January 22, 2012 20:33 (
)
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Janet McConnell
32,500
Insider Points

Hi Matt,
Thanks for the update, I am very pleased to be in the insider licensing program. I have read all of the previous questions and answers posted in this thread and I do have a few additional questions.

I plan to leave my submission active in the insider licensing program while I continue to develop on my own. Do I still need to post updates related to development activity such as additional disclosures, patent progress etc. Would I post these updates in the same place?

Will I still be able to see scheduled presentation information? If I have to make a decision to spend money or have something scheduled myself, it would be nice to know if EN has something scheduled?

posted January 22, 2012 20:27 (
)
panorth_77's Avatargold
Paul North
38,000
Insider Points

Hi Matt, it looks like my ideas was also one of the 73; however, I still do not see a star for the Insider Licensing Program like you mentioned above. While I’m not an insider currently, should I consider my status as still on-going?

posted January 20, 2012 20:28 (
)
tjm's Avatargold
Tim Montgomery
39,750
Insider Points
Holly : You have to be a Insider to get feedback from the EN team, i think all everyone can do is set and wait and see if a deal happens or not or go shopping around on your own and if you get a deal on your own just opt your idea out of the program. my idea is way too big for me to undertake on my own , so i’m going with the EN team and all the contacts they have gained threw the years ! good luck TJM.
posted January 18, 2012 10:52 (
)
nmbsc4's Avatargold
Susan Meeks
49,000
Insider Points

Thank you Matt!
Yes, I want to stay in the licensing program with EN. I wanted to make sure I could also continue to help myself secure a licensing agreement. You answered that. Not going to pull away from EN after all this time ………THANKS!

posted January 18, 2012 10:40 (
)
hey_holly_sunshine's Avatar
Holly Hebert

OK, Matt… Me again :)

I’m not trying to be a fly in the ointment here, just trying to get clarification, OK?

As former G7’s (R8s), will we get feedback on our individual submissions? Again, not trying to be difficult; I’ve just been sooooo curious about what re-design or suggestions EN would have had for my submission ever since I passed that stage!

I WANT to be excited… I really do – I promise, but I just can’t until I feel like I understand as much as I can about what’s happening.
Please forgive me for asking so many questions.

posted January 18, 2012 09:18 (
)
yankeeholli's Avatargold
Holli Homan
56,500
Insider Points

Thank you for explaining everything. This is exciting!!!!!

posted January 17, 2012 20:15 (
)
yankeeholli's Avatargold
Holli Homan
56,500
Insider Points

Nice job to all who are working hard. We appreciate it!!!!

posted January 17, 2012 20:07 (
)
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Matt Spangard
Insider Points

Susan, that is only the case if you are a G7. If you are an R7 or R8, you can opt your idea out. If your idea was one of the ones that we moved last week, that means you have the ability to opt it out if you’d like. I’d leave it in until you find a deal on your own, though. Two birds are better than one!

Thanks for the suggestion Bucky!

posted January 17, 2012 14:59 (
)
bucky5's Avatargold
Bucky Ketter, Jr
36,750
Insider Points

Hi Matt,
We dont have a question just a suggestion on our idea that was 1 of the 73.
My father and I feel that if EN had 4 or more of the largest insurance companies and maybe even building code inforcment, backing your team and our idea. That any company EN aproached would be foolish to turn down a deal. Now of course we have not forgot that we are talking to the impresive, EN team. Were pretty sure the EN team as probably already thought of this months ago and we can picture the EN team rolling thier eyes and saying to them selves “No Duh ………Bucky” Lmao Were just leave the lic to the profesionals, the EN team. We hope to hear good news from you guys in the near future.
Thanks, Bucky Jr, Bucky Sr

posted January 17, 2012 14:27 (
)
nmbsc4's Avatargold
Susan Meeks
49,000
Insider Points

Hi Matt! It’s so nice having updates from you considering we went for so long hearing absolutely nothing.
I’m excited that my idea made it and has been moved to the insider licensing program. As I had not heard anything for so long, I started making arrangements to attend a licensing trade show and proceed with this myself. Please tell me if I have that option. I’m confused because, previously, if we reached stage 7, we were not allowed to opt out. Now, finding out that I made it, I don’t know what to do. Help, please? Thanks!

posted January 17, 2012 14:23 (
)
hey_holly_sunshine's Avatar
Holly Hebert

Matt,
Thank you so much for the detailed response and for checking into the name search.
I hope that your answers to my questions might have helped have helped others, too.

Thanks,
Holly

posted January 17, 2012 08:53 (
)
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Matt Spangard
Insider Points

Holly,
Like I said in my original post to this thread, if your idea was still alive last week in the Insider Open Search, you can consider it a G7. We just didn’t move those ideas to G7 because we didn’t want to lock up your idea, knowing that the licensing process can often be long, especially when you need to first identify potential licensees.

The window of time is entirely up to you. It can take weeks – or years – to license a product. Some products never get licensed. I don’t see any reason why you shouldn’t try to move it forward on your own. The worst thing that will happen is that you’ll land a deal and need to opt your idea out of the system. That’s not a bad problem to have!

You won’t be charged for an Insider membership just because this idea is in the Insider Licensing Program. This isn’t a “trial offer” or anything like that.

There’s no cold case drawer – we’re always reviewing the “inventory” in the Licensing Program and cross-referencing it with our contacts or identifying people to get to know who might be able to help us. Of course, some ideas have a better chance at being licensed than others. Remember, if you are an Insider and you submit an idea to one of the Innovation Fund searches and you have an issued or pending patent, you automatically get entered into the program, regardless of how far you make it in the search. A product with no chance at being manufactured at a reasonable price or any other host of factors might make it a poor candidate to be licensed. We’re focusing more of our efforts on licensing the ideas that have the greatest possibility of being successful obviously. However, I will say that the subset of ideas that we are talking about here probably have an edge simply because if we saw major faults in them that would totally prevent a licensing deal, it is unlikely they would have ever made it this far to be opted in to the program. You guys earned your stripes on this one!

I’ll check on the Spill Resistant Technology name search.

posted January 17, 2012 07:23 (
)
matt's Avataren_staff_badge
Matt Spangard
Insider Points

Alan,
I don’t think you have an idea in either of the original Insider Open searches that we’re talking about on this thread.

I think the idea you are referring to was submitted to the “Innovation Fund: Open Search for Consumer Products.” That idea did fail in that search at stage 5. Because it has some patent protection, though, and you submitted it to an Innovation Fund search, it is (and always has been) part of the Insider Licensing Program.

posted January 17, 2012 07:06 (
)
onemoretime's Avatargold
Alan Jackson
12,500
Insider Points

Still confusing here Matt. My idea was x’d at stage 5 some time ago but it still has the Insider star that you mentioned? Does that mean it is still being searched for a home??

posted January 16, 2012 20:23 (
)
lindassoap's Avatargold
Linda Skaggs
83,000
Insider Points

Thank you for clearing every thing up,
now lets get back to work and find homes for all our ideas….
I did find my star… I like that..

posted January 16, 2012 19:51 (
)
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Susan Meeks
49,000
Insider Points

THANKS SO MUCH MATT!!!!

posted January 16, 2012 15:28 (
)
hey_holly_sunshine's Avatar
Holly Hebert

That did answer a Q or 2 of mine. I was wondering about the “opting out” part, as our dashboards make it appear as if we were G7 – but that’s just for representation that the particular part of our dashboard was “being cleared out”.

So… I think I need to read up on the T & C of the I.L.C. now that I’m there.

I do appreciate shaking things up so that I’m no longer in “Never Never (move) Land”, and more than that, I appreciate the explanation.
I can’t help but have a nagging question or 2…

  • Those of us who were G5… should we have actually been G6? Or is this a case-by-case issue? I thought perhaps that the year-long delay was due to a problem in determining the patentablity of my submission.
  • Is there a window of time that we should expect to find something out about whether or not our submission is going to go anywhere? For example, would you suggest that if I haven’t heard anything within 6 months, I should probably go elsewhere?
  • Is this a probationary entrance into the ILC program? Will we be billed eventually?
  • Are we in a sort of an innovation “cold case” drawer? (If so, then does that make Geoff the sharp police detective determined to solve the cases? teeheehee… guess who watches too much T.V.)

And, although a bit off the topic, has a winner ever been selected for the Spill Resistant technology name search? My submissions still say “under consideration”.

Given that my dashboard hadn’t moved and the name search status hadn’t changed either, I was beginning to think that I no longer existed to EN. :~(
I’m happy to see that I do.

posted January 16, 2012 15:14 (
)
bucky5's Avatargold
Bucky Ketter, Jr
36,750
Insider Points

THANKS MATT!!!
Go Geoff! With you and the rest of the EN team, you can do it!!

posted January 16, 2012 14:58 (
)
matt's Avataren_staff_badge
Matt Spangard
Insider Points

Here’s an update: If your idea was still alive (at any stage but G7) in one of the two Insider Open Searches at the beginning of last week, it should now be failed at the final stage (x over the exclamation point), you should have received Insider Points for the moves to get you there, and your idea is now in our Insider Licensing Program (even if it does not have a patent or patent-pending status).

How do you know? Check out your submissions and your idea should look something like this (with a different title, of course!):

See that Star that says your idea is in the Insider Licensing Program? That mean’s you’ve made it! Congratulations! That star means that we are doing our best to find a home for your idea. It’s not a guarantee that we will, but we only win if we find a home for your idea so we’re doing everything that we can to make it a reality for you.

To answer Linda’s question, this official influx of new ideas does not change around our priorities because we’ve been working on attempting to find homes for these ideas for some time now. This just makes it official. Holly is correct, the reason the ideas were parked in that search for so long is because “these things take time” but it didn’t feel right to leave them hanging out there. That’s also why we represent your idea’s inclusion in this program with a star rather than with a traditional multi-stage dashboard. The reality is that if it’s in the program, we’ll do our best to find a home for it. You can’t really plot that out on a timeline or multi-stage chart. If we believe we’ve got a very solid lead with a high likelihood that we’ll be able to close it, you’ll get a call or email from us with the good news! Unless you’ve heard from us, nothing precludes you from attempting to license or develop your idea on your own. You have the right to opt out of this program at any time by opting your idea out of the system.

If anybody has general questions, please post them here and I’ll either answer them or find an answer to them for you. If you have a question that involves specific details to your account, please ask those at http://support.edisonnation.com in order to keep your details private.

posted January 16, 2012 13:49 (
)
lindassoap's Avatargold
Linda Skaggs
83,000
Insider Points

If they can’t do a progress bar, maybe the same thing as the name seach with ..your submissions is still being shopped…. something to know we are still active in that catagory .

posted January 16, 2012 07:19 (
)



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