Table of Contents
- Do I have to be an inventor to join Austin Inventors?
- Will I have to pay others for the services they provide to develop my project?
- As a participant in a project, how can I be sure the project will ever be successful?
- As a member will I be bombarded with tons of e-mail?
- Will I be pressured into working on projects when it is not convenient for me to do so?
- Will the inventor be contacting me directly?
- As an inventor will I have to give up most of the profits to develop it through this process?
- How secure is my invention?
- Do I need a patent on my invention before I can submit it?
- Will my e-mail address be sold or given out to any third party?
- Will I have to invest my own money in the project that I become involved in?
- Can I submit more than one project at a time?
- What if I can’t work with one or more of the others involved in the project with me?
- I’ve noticed that your membership fees are in U.S. funds, is there a reason for this?
No, anyone can become a member of Austin Inventors Syndicate. However, one of the requirements of our members is that you are willing to offer your time and expertise to help others develop their projects.
No, they will negotiate with you for a percentage of the profits from the sale of your finished project
Based on the project and where the inventor is at in the development process we will determine what will be required to complete the project to the production stage. We will then insure that there are people in place capable of accomplishing this. No project will be started until every last detail is taken care of.
No when you register as a member you will provide us with information on the type of projects you are interested in and what area you prefer to work in. You will only receive information that fits this criteria.
No, when we receive a project we feel you might be interested in we will send you information on the project. If you are interested you, will submit a proposal to us outlining your desire to become involved and what percent of the profits you would require for your services in the project.
Not immediately, we will request several offers from interested parties and present them to the inventor without any contact information. Once he has selected the offers he feels most comfortable with, contact information will be exchanged between the participating partners.
As an inventor will I have to give up most of the profits from my project in order to develop it through this process?
No, since your dealing with other inventors who understand what it takes to develop a project you will find most of them willing to provide their services quite reasonably.
Also, this is a win-win concept where everyone works together for one common goal.
There is always a chance that someone will try to steal your idea so you must take every precaution to protect your invention. When someone is interested in working with you on a project, we strongly recommend that you check out there references carefully.
Not necessarily, however you should have completed a patent search on the product to ensure there’s nothing like it on the market. We strongly recommend a professional patent search be completed before the development process begins. A preliminary patent search will be sufficient for a project submission.
Definitely Not! At no time will your e-mail address be given or sold to anyone except those interested in working on the project.
Before a project is started a cash-flow budget will have to be developed. Once it is determined how much money it will require those involved will have the first opportunity to invest in the project. However, this is optional and no one will ever be obligated to invest.
If the capital raised by those involved in the project is not sufficient, the investment opportunity will be offered to the rest of the members.
You can submit more than one project at a time depending on how much time you have to invest in each project. In most cases the inventor will choose to remain involved in his/her project and will not be able to manage more than one project at a time.
When you enter into a partnership to develop a project, there are three important issues to consider:
- What will it cost me? (time/money)
- How do I get in?
- How do I get out?
These are three very important issues to consider when getting involved with others to develop a project. If you are unable to settle the difference between you and the others, then a reasonable settlement will have to be worked out and you will have to try another project.
Yes, since we are dealing with people from different countries, we’ve decided to begin with one standard currency and keep it the same for everyone.