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Your Money Monday: Finding success as an inventor

3:13 PM, Oct 1, 2012   |    comments
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They also rely on royalties from other successful inventions and will not promote ideas if there are patent infringement risks.

In this week's edition of Your Money Monday, 9NEWS focused on inventions - how you can develop and withstand the costs and competitive nature of the field. 9NEWS Business Reporter Gregg Moss spoke with Hope Marie Sneed, a representative from the Denver/Boulder Better Business Bureau about the subject.

Snead explained how many companies offer services to conduct research and market evaluations on invention ideas.

Some points of advice would be to request the company's confidentiality agreement before discussing the ideas, know the laws and document everything.

She also cautions people not to choose companies that insist on substantial upfront fees, don't disclose rejection rates or client success, guarantee profits and refuse to provide written documentation of promises.

For more information, visit

Nate Chisholm contributed to this report

(KUSA-TV © 2012 Multimedia Holdings Corporation)

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