Have You Been Taken By An Invention Scam Company?
Wednesday - June 25, 2008
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By Daynin Dashefsky
I felt it important to make everyone aware of the many Invention Scam companies that are out there taking advantage of inventors. On May 19, 1999 two indictments were unsealed in federal district court charging ten individuals with mail fraud, money laundering and tax evasion stemming from their operating or participating in an invention promotion scam. U.S. Attorney Stern stated: “The only thing successful about these companies was the unparalleled size and scope of their scam, which yielded $60 million dollars from over 34,000 victims. The patenting and marketing services they provided were worthless. The big dreams of small inventors were exploited by this cynical and cruel hoax.”
It is important to understand that these big invention companies deal with hundreds, if not thousands, of people sending them their ideas. No matter how unmarketable your product may be, they will accept your idea and your money, wasting not only your time and money but giving you false hope in the process. Now keep in mind, with thousands of people to service, how much time and attention do you actually think your product will get? Everything they send you is a template of information that they copy over and over again for the same people, no matter what your product or potential.
What do you do if you feel that you have been the victim of a fraudulent invention promotion scam? Simply file a complaint with the Attorney Generals Office in your State and the State the company is reportedly located in. Do not hire an attorney. That is almost the same as throwing good money after bad money. The Attorney General’s Office can ultimately file criminal charges against companies with too many unresolved complaints. These complaints constitute fresh witnesses to possible fraud. For this very reason, invention promoters normally act very swiftly in coming to a settlement with inventors filing complaints. An important note to remember is the promoter will seldom offer a full refund at first. If the complaint is legitimate stick to your guns until you reach a settlement agreeable to you. If you have already composed your complaint, file it also with the US Patent & Trademark Office and with the United Inventors Association. For more information on inventor fraud see Red Flag Warnings on our website at www.UIAUSA.org.
Take your product and ideas into your own hands. Learn the process and learn what your options are so you can make an informed decision that is best for you. Everyone’s ideas and situations are not the same so they need to be handled individually.
To learn more about the Invention Process, please join us at our next Seminar on how to bring your product to market. Our next “Inventor’s Tool Kit Seminar” will be held on Sunday, July 6th from 9am to 4pm at the Ala Moana Hotel’s Carnation Room. For more information on the Invention process, our seminars, or to register, go to www.GFIassociates.com or call us at 808-263-8160.
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