In around 2004 I came up with an idea that worked extremely well. I was told by old timers that have been in the business for over thirty years that my invention was pure genius. My boss at the time advised me to get it to market. I was so proud that I came up with something my fellow coworkers liked. I took my bosses advise and went out looking for an invention company. I shopped around and settled in a big corperation that looked very impressive. I was so naive to think that bigger was better. To make a long story short, I shelled out my life savings of over $10,000.00. I was left waiting for months for this firm to hand me a bunch of info on my idea that was not enough close to what I developed. I recieved two fancy notebooks fill with legal paperwork and filler information. After two years getting the run around I was told no buyers wanted to sign the discloser forms. They had lined up about six or so during the period of a year or so. They had no choice but to drop my idea. I was sadden, but knew I was taken a big chance. My the idea was a failure. I never wanted to submit any more of my ideas again. A month ago I was told that the company I trusted is under investigation for misleading inventors. Over 100 people filed reports stating that all they got for their money were false promises. I read a bunch of the reports and it was the same over and over. I know that company will have to answer to someone sooner or later. I am back with submitting ideas again, this time I have hope in sites like this.
Forums » Other » Topic
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Hi Roger, I have knocked the dust of the prototype and working on getting back on the market. Slow process, but I will give it another try. In the meantime I have several other Ideas I am working on. Thanks for asking. |
 
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Welcome Paul, what has happened to the first product you spent the $10,000 on? is it stored away or have you tried to pitch it anywhere? |
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Thanks again inventors for your kind words . I am glad to be here. You really know how to welcome a newbie. I like it. |
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Hi Paul! Welcome I am sorry you got taken, that’s not something a lot of people would admit, but I am glad you are sharing your story, if it can help another person from making that same mistake. EN is great, lot’s of great people here (inventors/ideators) and EN staff! |
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Welcome, Paul. Keep plugging away. We’re all in this together. ;) |
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Paul,welcome to the EN, a innovation place that takes horror stories and turn them into success stories. |
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As others have said, there are many of us that can share similar stories. If I were to share my story, a tiny portion would include something very similar to what you wrote. “Flash of Genius” the movie, seems like Snow White and the seven Dwarfs with a happy ending in comparison to many stories. Glad you found hope to give it another shot with EN. |
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How fortunate you are that you only lost $10,000. Most of us can probably share one or two stories where we “lost” as much or more. Chalk it up to experience and keep on trucking. I went thru all my 401K, about $200,000, and the product fizzled in its ASOtv trial. I am sticking to inventing and will leave the marketing to the pros. |
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I Thank all of you! You just made me feel right at home with your supportive comments. I just had to get my story of my chest. I plan on having a great time here on EN. I like what I see and have heard about EN. Thanks again. |
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Paul… FYI, Betsy Kaufman (who responded earlier) has had amazing success hear. And is quite an inspiration. Go to your local Wal-mart and you will likely see her very successful product on the shelves – “Eggies” She’s just one story and their are lots more positive stoies about EN… I just had one of my ideas pitched to a company on my behalf… All it cost me was $25 bucks! You are in the right Place!! Good Luck to you! |
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Hi Paul, You will do great things, this is the place to be.. |
 
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Welcome Paul, You finally found the Golden site. Edison Nation is the only site that I trust. So start entering new ideas and have fun |
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Welcome to EN Paul! You’ve found the right place! EN showed my idea to a sponsor and now it’s a product on store shelves everywhere. I paid $25 dollars and will NEVER have to pay another penny. However, this site is addicting, and fun and I find it’s impossible not to keep submitting to other searches. Ha, ha. ;-) |
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Paul, sadly you are not alone. No shortage of people out there willing to prey upon the hopes and dreams of others…..You have found a great place here at EN and you are in the company of other like minded inventors. On these forums you will find a wealth of information… |
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