|How long does it take?||We endeavour to complete and return Non-Disclosure Agreements (NDA's) in 2 to 3 working days. |
For inventions submitted through our Inventor Service: If the assessment process is straightforward, you will normally receive our feedback within 40 working days. If your idea is complex or if we need to contact experts as part of the evaluation it may take longer. In either case we endeavour to report to you at the earliest opportunity. If we cannot proceed with your idea commercially then we will let you know as soon as possible. The most common reason for this is that patents for the idea exist already.
For inventions submitted through our Premier Service: If the assessment process is straightforward we endeavour to report to you within 20 working days, from the date when your invention description and payment is received. If your idea is complex or if we need to contact experts as part of the evaluation or during particularly busy periods it may take longer. In either case we endeavour to report to you at the earliest opportunity.
|What is the success rate?||Over 80% of the ideas submitted to us have been done before or are covered by existing Patents. About half the remainder have to be rejected because we can find no third-party commercial interest in the idea. The remainder may have some commercial possibilities. This does not guarantee success, it is really the start of the hard work. Our expectation is that only about 30% of these, or less than 5% of the original applications will have any commercial success and much fewer will generate any significant rewards for the inventor. You should also bear in mind that it can take a long time before any rewards are achieved.|
|Do I have to accept the commercial agreement from TBB?||No. There is no obligation to accept our commercial agreement.|
|Under the standard commercial agreement terms, what share of benefits generated will TBB receive?||1/3 comes to TBB. The royalties are checked on a regular basis to ensure that the inventor is receiving the proper payments. We have the right to examine the books of any manufacturer concerned.|
|Who pays for the patent?||The initial patent application will not cost you anything if you apply yourself, and we can assist you with this. Of course, if you then take out the full patent, the costs are down to you. Sometimes a deal can be negotiated with the manufacturer concerned to assist / take-over the intellectual property.|
|What other costs would be involved and who pays for them?||Normally, the manufacturer will construct the prototype. If a stand-alone company is formed as the route to market, this will be negotiable.|
|When do I see a return?||This depends on the idea. It may need a lot of development work before it can be marketed. It always takes longer than expected. It can take at least two years for any significant commercial return. Commercial distributors usually plan a year ahead for their stock. So it can take at least a year between a commercial agreement and any revenue appearing.|