7 - How to sell your ideas and inventions - Part 7of 7 I never met anyone who was ripped off

How to sell your ideas and inventions for cash - Part 7of 7
I never met anyone who was ripped off
Hi. This is Mike Rounds and welcome to part seven of how to sell your ideas and inventions for cash called I never met anyone who was ripped off
Hold on"!
Before you pick up the phone and call me and tell me you know a lot of people who have been ripped off, I want to remind you of something;
In 30 years that I've been doing this program, I've never met an inventor who has shown his idea to somebody, had that someone say they were not interested, and then go ahead and profitably market the idea or invention without paying the inventor.
I'm not saying that it doesn't happen, or that it hasn't happened, it's just that having addressed over 100,000 inventors in my speaking career, I've never met anybody who's been ripped off that way or who personally knows anybody who has.
On the other hand, I've met a lot of people who have been ripped off legally, like by the invention marketing companies, who simply took their money and basically did nothing productive for it, or who have sat down at the negotiating table and literally been robbed blind by the attorneys working for the buyer or licensee.
If you expect to be profitable with your invention, you need to educate yourself about the guidelines for selling your invention and become more concerned with what happens after you find a buyer then before you find a buyer.
As you know from your own inventing efforts, there is a lot of time, money, grief, and aggravation between coming up with an idea (or hearing about one) and making it a profitable product in the marketplace.
Nobody with economic sense is interested in stealing your invention without knowing whether or not it has market potential so rather than steal it from you outright, you may find yourself in a contractual relationship that is heavily weighted in their favor and, in some cases, may actually negotiate away the rights to your invention.
When I was in the toy business, and for several years after that, I lived and worked in the Orient and was responsible for taking many products from an expensive US manufacturing base to the Pacific Rim where we saved costs on parts, tooling and production.
Many people would tell me that they were terrified to send their product ideas and manufacturing efforts to the Pacific Rim for fear that the manufacturers and subcontractors would steal the idea with and go to market with their own versions of the product.
Realistically, the Pacific Rim companies are not stupid, and wouldn't even consider stealing an idea that had no proven market value.
Remember that when a product is first introduced, there is no guarantee that it will be a success in the marketplace, so it doesn't make logical sense for somebody to steal something that has no proven value.
On the other hand, having been actively involved in the toy business, I can attest to the fact that after a toy proves its worth in the market place, that many manufacturers will produce some form of clone product to capture their market share after the initial developer and manufacturer has proven that the public will pay for the product.
In other words, until the product is market proven, it has relatively no value and is not worth companies while to incur a potential lawsuit by stealing it until the product proves that it's worth with financial return.
If

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