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The customer must be warned that if the inventor assigns a partial interest in the invention to the promoter, the invention promoter may have the right to sell the invention without the customer's consent and may not have to share profits with the inventor. The promoter must also disclose the total number of customers in the past five years who received more money than was paid to the promoter as well as the total number of customers who contracted with the invention promoter during that period. The customer must also be encouraged to consult an attorney before signing the agreement. Enactment of this proposed legislation would be a large step toward minimizing the number of inventors taken advantage of by unscrupulous invention promoters.
There are many honorable and competent invention-marketing organizations. These companies typically screen inventions before accepting some of them into their program and do not have high-pressure sales efforts causing the inventor to commit at an early date to spending a large sum of money.
Many states and some universities have organizations that will assist inventors in invention evaluation by obtaining prototypes, further development work, and funding. It is suggested that inventors check with the states where they reside and colleges and universities in their area to determine if such assistance is available.
Another alternative is to seek the advice of a patent attorney who is admitted to practice before the U.S. Patent and Trademark Office. A pamphlet identifying patent attorneys and agents registered to practice can be obtained from the U.S. Patent and Trademark Office in Arlington, Virginia. Also, referrals from other members of the bar, the local bar association, or the yellow subItems may be obtained.
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