Watch out!...the invention business is riddled with scams and fraud:

WARNING #1: Invention promotion companies
MSNBC News says it's a $300 million a year scam.

The FACTS:

• Success rate is less than 1/10th of 1%!
Do you like the success rate of 1/10 of 1%? You'll have that if you are lucky! Many of these bogus companies have never had one single success...zero. Any entity you deal with must be able to show you verifiable, name brand successes. Don't let them trick you into saying "we keep the inventors confidential"...it's not true.
• Always ask for up front money for prepaid services.
  It is much easier for their sales people to find another unknowing inventor to pay up front money than it is to follow through with trying to license an invention. Worse, they charge upwards of $40,000 for work you can do better, or have partners do at their expense. You'll save time too!
• Never endorsed or sponsored by government, colleges, universities.
  The invention companies are never endorsed by colleges, universities, government agencies or prominent patent attorneys.
• Spend millions fighting the FTC and customers in court.
  It is estimated that invention promotion companies spend over $30 million a year on legal fees fighting complaints from unsatisfied inventors. Their practices are so lucrative they can afford it! And just who do you think is paying for that?
• Don't have qualified, successful inventors on staff.
Wow! Can you believe that we know of no invention company that has a successful inventor on staff! Would you want to have an operation at a hospital that had no qualified doctors on staff?
• Rarely, if ever, are considered by mainstream businesses.
It is impossible for a company to have contacts with decision-makers in every facet of industry.

You know the companies with their slick ads on TV and free inventor start-up kits. Their smooth talking salespeople make promises...but rarely deliver. If you decide to pursue a success rate of 1/10th of 1% with an invention company, good luck...you're going to need it!

WARNING #2: Online patent mills
Online patent mills bait inventors into filing inexpensive, inferior, worthless patent applications. Some sites are even hosted by famous attorneys. Don't make the mistake of filing with the patent mills.

WARNING #3: Patent it yourself methods
"Patent it yourself" books mislead inventors into believing they can file patent applications and save $1000's. It's a trap.

WARNING #4: Invention clubs
Invention clubs offering help and advice from inventors who have rarely, if ever, been successful is a waste of your time. Some have good intentions, but be willing to accept failure in exchange for the social networking.

You can be successful for a fraction of the cost of these methods. Ask yourself:

Do you want a dismal success rate of 1/10th of 1%
or;
A 100% success rate applying From Patent to Profit?

Want more scary facts?
Check out these links from the Federal Trade Commission and USPTO:

• FTC Consumer Alert
• US Patent Office complaint list (a small fraction of 3000 estimated)
• FTC facts about the invention companies
• Search the FTC for 100's of invention company complaints

If you've been in contact with a company you suspect of malpractice, visit the National Invention Fraud Center and file a complaint with the FTC here.