FAQ's - Frequently asked Questions. Go to FAQ Index
ROYAL INVENTIONS assists an Inventor to find a Manufacturer for their ideas and inventions. And hence a License Agreement & Royalties. There are many Questions that Inventors have asked us concerning inventions, ideas, concepts, designs, patents, intellectual property, trademark, utility patent, design patent, research, new products, inventions royalty, licensing, marketing services and promotion, marketing services, inventions submission, prototyping, manufacture.
BELOW we have tried to answer some of these questions in "Basic Terms" for easy understanding.
ADVICE:
After reading the FAQ's below, and if you are still not sure what to do next or if you have any other questions please call Royal Inventions:
Melbourne Australia 03-9764-2577
[International 613-9764-2577 ].
Royal Inventions Contact Information
There is a lot more information in our "Inventor Information Guide" which can be sent to you by the normal Postal System
[Email is not secure!].
Return to the Request Information page and complete the Request Form.
FAQ's INDEX:
- -- Advice if your Confused --
- -- Royal Inventions Company Details --
- -- Confidentiality Agreement --
- -- E-Mail Verses Normal Mail --
- -- Evaluations of New Products --
- -- Inventors Information Guide --
- -- Inventions Time Flow - How Long Does It All Take --
- -- Is there a Cost --
- -- Manufacturer Search --
- -- Earning Money from an Idea --
- -- Patent Registration --
- -- The difference between Patents & Licenses --
- -- Protect Your Idea --
- -- Procedures To Send In Your Idea --
- -- Royalties --
- -- Sending in More than One Idea --
- -- Writing Up Your Idea --
- -- More Information --
- -- Royal Inventions Contact Information --
COMPANY:
Royal Ideas & Inventions is an Australian Company primarily licensing new ideas & inventions to companies in U.S.A., Canada, United Kingdom, Germany, France, Asia & Australia.
Most Internet Businesses Can't/Won't talk to their clients !!!
Royal Inventions is a people company. We DON'T like having a discussion with a computer [ie email/fax], we prefer to talk to people. If our Information Guide doesn't answer your questions then talk to us.
Royal Inventions talks directly to Manufacturers too, if you don't talk to them they just throw the Presentations out!
CONFIDENTIALITY AGREEMENT:
A "Confidentiality & Non-Use Agreement" when signed by the reviewing company will prevent that company from manufacturing your idea without your permission.
Q. When I receive Royal Inventions Confidentiality Agreement, is it possible for me to make photocopies of it in order to submit other ideas?
YES, providing you keep the original signed Confidentiality Agreement in your files.
See also below: PROTECT YOUR IDEA
EMAIL VERSES NORMAL MAIL:
Royal Inventions could use Email to send you Information, it would be faster & cheaper. But how do you get an "Original Signature" on the Confidentiality Agreement?? Yes, NORMAL MAIL is best.
Don't send an idea by EMAIL or by FAX as they are not secure enough.
The normal Postal System is the best way to send "Inventions" Mail.
EVALUATIONS OF NEW PRODUCTS:
Your idea may be interesting and an obvious money maker. But whether or not it can be promoted into the mass production market place, depends on a Market Evaluation.
Royal Inventions performs an evaluation of your idea by looking at the market place and asking two Major Questions:
1. "Will anyone buy one, or 100,000 or more?",
2. "Will a Manufacturer make a profit out of this idea?"
After many more evaluation points we then we start putting together a "Case" to convince a Manufacturer of profitability.
A Market Evaluation takes approximately 2 to 3 weeks, but can take longer depending on how complex your idea is and also how complicated the the manufacturing market is.
If successful, you will be contacted to discuss the next step.
Finding a Manufacturer and getting them to sign a License Agreement takes a little longer, it can take from 12 to 18 months.
Only a small portion of ideas will make it to the market place.
Therefore when we do a Market Evaluation on ideas and inventions, we "Pick the Eyes out of them".
We select the "Most Likely To Succeed" ideas to ensure that the ones we submit to Manufacturers are going to earn a royalty income.
Royal Inventions evaluates many hundreds of inventions and may only select one or two to push into industry!!
INVENTORS INFORMATION GUIDE:
When you request Royal Inventions Information Guide, you are sent:
1. "Confidentiality Agreement": signed before sending for your protection.
2. "Disclosure Form": to help you describe your idea so that Royal Inventions can perform a Market Evaluation.
3. "What We Do": describes how we take an idea into industry to get you a License Agreement and hence Royalties.
The Confidentiality Agreement is the first step in many to protect your idea. That's why we have signed it for your protection [we make all Manufacturers sign one too]. Send in the Disclosure Form with details of your invention and we will firstly register it in the Royal Inventions Registry and send you a "Registry Receipt", then evaluate it for its market potential. Remember not all Ideas will make it, therefore Royal Inventions selects the "Cream" of ideas, those with the greatest chance of success. Afterwards we will contact you with the results of the Evaluation and what happens next.
CLICK the
Buttonand we'll send you the NEXT STEP Info.
INVENTIONS TIME FLOW:
The basic steps are:
1. Inventor receives Royal Inventions Information plus a signed Confidentiality Agreement.
2. Inventor sends a description of the idea/invention to Royal Inventions.
3. Royal Inventions then Evaluates it for it's market potential.
4. Once we have completed the Evaluation, and if we consider your idea will make "Profits" for a
Manufacturer [and a royalty for you too], then we will contact you, give you all the details about
the Manufacturer search / costs / license-agreements / royalties / etc.......
If your idea is not acceptable, then we return all your documents.
5. Then, if you give permission, Royal Inventions will search for a Manufacturer, World-Wide.
6. Once found the Manufacturer signs a Confidentiality Agreement to also protect your idea.
7. Royal Inventions then presents your new product to allow the Manufacturer to perform a full evaluation.
8. Royal Inventions then negotiates a License Agreement with the Manufacturer, to allow them to make and market your idea and pay you Royalties.
9. Royal Inventions shares in the Royalties. The Inventor receiving 80% and Royal Inventions receiving 20% of the generated Royalties. Royal Inventions' 20% is a vested interest in your New Product, which means Royal Inventions will "Fight like Mad" to find the very best Manufacturer, one who will give you the best royalty income. Therefore Royal Inventions will get a bit extra as well.
IS THERE A COST:
- Yes, Nothing is free these days. The cost amount is set dependant on how complex your idea is to present to potential marketing Manufacturers.
- - There is no cost for the Inventors Information Pack which is sent free of charge and will answer most of your questions.
- - There is no cost or charges of any kind for a Market Evaluation.
- Although there are many evaluation points that we ask during the Market Evaluation, the main question is:
- - "Can Royal Inventions convince a Manufacturer that they will make a profit out of your new product".
- - If no profit for a Manufacturer then you will get $0.00, and then Royal Inventions' share in the royalty of 20% would also be $0.00!!!!
- Once we have completed an evaluation and if we consider your idea will make
"Profits" for a Manufacturer [and a royalty for you too], then we will contact you to discuss:
- 1. "What Happens Next",
- 2. What the costs are,
- 3. An estimate of how much income you will receive in Royalties, and how to work it out for yourself,
- 4. How the License Agreement works,
- 5. How long it will take to find the right Manufacturer and sign them up with a License Agreement,
- 6. What the risks are, i.e. only a small portion of ideas will make it to the market place.
- There is only a cost if:
- [a] we accept your idea, plus [b] you then decide to go ahead.
- If you decide not to go ahead then we return all your documents at no cost.
MANUFACTURER SEARCH:
Finding a Manufacturer and getting them to sign a License Agreement usually takes from 12 to 18 months. This time span depends on how complicated your new product is. [Sorry, but your not going to be a millionaire next month !! ]
Royal Inventions "Dresses Up" ideas into Marketing Presentations and sends them to Manufacturers worldwide, and rarely do we require a Prototype. Manufacturers work with "Computer Modeling" these days and don't require prototypes. If they can't understand how your invention works from paper drawings and descriptions, then, they will ask for a Prototype.
Royal Inventions does all of the License Agreement negotiations. It is a heavy legal document and can take 4 to 5 months to finalise. We keep you posted of all negotiations with Manufacturers as we go. We have to "Fight" Manufacturers for every "cent" of royalty, [Manufacturers would rather pay you $0.00 !!]. These 'Negotiations' include fighting for the royalty percentage, minimum quantities manufactured, auditing, development, patent costs, and many more.
Manufacturers will research, develop and improve a new product and still credit the Inventor with all the changes. This is covered legally in the License Agreement.
PATENT PROTECTION:
Patent costs are expensive [worldwide can be approx. $40,000 !!] and complicated; the patent costs are usually paid for by the Licensing Manufacturer.
Most Inventors worldwide are taking out a Patent in United States of America first, then in their own country.
The reason for this is that the U.S.A. has a large economy and worthwhile protecting your idea in. Basically you should Patent your inventions in the "TOP" economies of the world first [i.e. USA, United Kingdom, Germany, France Japan, etc], that way if your idea "Takes Off" then you are protected in the MAIN economic countries of the world.
The cheapest Patent is a Provisional Patent, which gives you worldwide protection. The Provisional Patent sets the date of your invention, and lasts one year, which is more than enough time for Royal Inventions to secure a License Agreement with a Manufacturer.
The most efficient Patent Tactic is to:
1. Take out a Provisional Patent [very low cost, approximately $80.00],
2. Search for Manufacturers worldwide [Royal Inventions can help you here],
3. Get the Manufacturer to sign a License Agreement that will pay you royalties,
4. The Manufacturer will pay for all the "Full Patent" costs worldwide.
If you're still determined to Patent your new product yourself, then be careful of Time. If you only patent in one country at a time then you only have 12mths to patent all the other countries !! Of course it's all very expensive, so you can't do every country. Ask your Patent Attorney/Solicitor about a "PCT" Patent Application, it allows 30 months to make application to all the countries.
It is better to let the Manufacturer pay for the Patent costs.
The difference between Patents & Licenses:
A Patent is only a Registration of your idea and does not mean you will automatically have your idea produced and sold.
A License Agreement is a legal agreement between you and a Manufacturer to have the new product manufactured, marketed, distributed & sold to produce you a Royalty income. The License is "YOUR" License not the Manufacturer's, you are the Boss, and therefore you have full control of your new product. Remember you own your New Product, it is your Property.
The License Agreement is a "Heavy" legal document and if put together properly will allow a Manufacturer to tool-up to, manufacture, market, distribute & sell your new product under "Strict Rules", YOUR rules. If they are the Manufacturer's rules you won't get paid royalties.
A simple analogy to understand the License Agreement is:
If you owned a House and wanted to rent it, then the Tenants will sign a Lease Agreement. If they don't pay the rent, then you throw them out and get new tenants. With a License Agreement you are "Renting" your New-Product to a Manufacturer, if he fails to pay you then you can cancel and find a new Manufacturer ["Tenant"].
Don't get caught up in getting a Patent too quickly, they can be very expensive, especially worldwide [$40,000 to $50,000].
Patent Attorneys & Patent Offices only want to Register your new product, they have no interest in whether your inventions will be successful in the market place. There are no guarantees by the the Patents Office that once your idea is Patented that it will find a Manufacturer. They just Register it, and that is where it will stay, un-known & un-used. The idea has to be physically taken to Manufacturers by you [or by Royal Inventions?].
It is better to send in a Provisional Patent which will set the Date of your New Product, which then allows presentation to Manufacturers. Then if a Manufacturer cannot be found then you don't lose too much. Remember not all new products will make it in the market place. A Provisional Patent, if written up yourself is very low cost i.e. ~$80, or if written up by a Patent Attorney is a bit more expensive i.e. ~$2,000.
PROTECT YOUR IDEA:
CONFIDENTIALITY AND SECURITY:
A Confidentiality Agreement should always be signed by the reviewing company, before showing your ideas. Don't take 'NO' for an answer, make them sign it.
Royal Inventions sends you a signed "Confidentiality & Non-Use Agreement" in Royal Inventions Information Guide. Return to the Request Information page and complete the Request Form and the information will be sent to you by the normal Postal System [Email is not secure enough!].
When Royal Inventions receives your Ideas/Inventions:
1. It is entered in the "Royal Inventions Registry" which records the date of your new product,
2. Each New Product is given a Registry Number,
3. Royal Inventions sends you an Acknowledgment Letter, plus the "Registry Number" in the mail,
4. For security when communicating always use the Registry Number.
We also make Manufacturers sign a "Confidentiality & Non-Use Agreement" before "Presenting" your inventions.
Security is definitely a problem on the Internet, and Security is also a problem with Email & Fax. Don't send confidential information by Electronic Media. The normal Postal System is the best way to send Invention mail.
PROCEDURES TO SEND IN YOUR IDEA:
Most Inventors are not Technical Writers or Illustrators and why should they be, they are Inventors and want to invent, not get loaded down with too much formal detail. Royal Inventions spends a lot of time re-writing and re-drawing new products, that's what we are good at. Let the Inventor INVENT and let Royal Inventions PRESENT the new product to Manufacturers.
Royal Inventions "Dresses Up" ideas into Marketing Presentations and sends them to Manufacturers worldwide, and rarely do we require a Prototype. Manufacturers work with "Computer Modeling" these days and don't require prototypes. If they can't understand how your invention works from paper drawings and descriptions, then they'll ask for a prototype.
Once you have received Royal Inventions Information Guide [which includes a Confidentiality Agreement], send in a your new product [a basic description plus a hand sketch is all that is required] and Royal Inventions will perform a Market Evaluation, which takes approximately 14 days. We will then contact you about the next step.
ROYALTIES:
How are Royalties paid?
Royalties are usually paid on a percentage of the wholesale price over a period of time. An outright sale of the invention is also possible.
If a Manufacturer develops your idea, even to something different, he still has to pay you Royalties. This is covered in the License Agreement by a "Development Clause".
SENDING IN MORE THAN ONE IDEA:
You don't have to use another Disclosure Form each time you send in a new idea.
You can either
1. Copy the disclosure form and add separate sheets describing the next idea, or
2. Send the new idea description referencing the first idea's "Registration Number".
From the "Registration Number" we have all your mailing details. Lets INVENT and not get "Hung Up" with too much "Bureaucracy".!!!
If you really want another Disclosure Form, we can send you one?
WRITING UP YOUR IDEA:
All Royal Inventions requires is a brief description of your idea, with a hand drawing. If we can't understand your idea we will contact you for further detail. Let's not be too "Bureaucratic", make it simple, then we can get moving with your idea, with your permission of course.
You can put more than one invention on one form, just number each one and add a separate description sheet. Don't send us 50 ideas, pick out the top 2 or 3, the ones that are most marketable. Royal Inventions will do a full Market Evaluation and if acceptable we'll let you know the best ones to push into industry.
More Information
There is a lot more information in our Inventor's Information Guide which can be sent to you.
If you are not sure what to do next then:
1. Give us a ring in Australia 613-9764-2577, or
2. Send us your address & telephone details by the normal Postal System, or
3. Go to the Request Information page and insert the your details,
and we will send you our Inventors Information Guide, which includes a SIGNED Confidentiality & Non-Use Agreement.
REMEMBER:
**** EMAIL is quicker but not as secure as conventional mail !!! ****
**** Therefore please don't discuss your idea in an Email Letter. ****
What To Do Next
Security & Confidentiality How To Invent
What We Do
Ask Royal Inventions Inventor's Information Guide
Back To Royal Inventions Home Page Back To The FAQ Index
ROYAL IDEAS & INVENTIONS,
1298 Ferntree Gully Road, Scoresby, VIC. 3179, AUSTRALIA.
Contact: New Inventions Adviser
Phone: Australia 03-9764-2577 or International 613-9764-2577
Fax: Australia 03-9764-2579 or International 613-9764-2579
WEB: http://www.Rii.com.au/
E-Mail: Email Form
All references to Royal are interpreted as Royal Ideas & Inventions.
Royal Ideas & Inventions™ and Royal Inventions™ are divisions of:
Royal Computer Proprietry Limited
[Australian Company Number ACN 051 848 349]
Royal & Royal Inventions and Lion-Image&Royal, are Registered Trade Marks of:
Royal Computer Proprietry Limited
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