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Edison Nation

United States,
North Carolina

Consumer complaints and reviews about Edison Nation

Ideas
Jan 24, 2012

25 Million Dollar Rip Off

No no no. That is not how you protect a idea. Write up everything about your idea. Then go get it notarized stamped with a date and time. That is the poor mans provisional patent. That shows that your plan is to go public with your idea. This will stand up in court if any one takes your idea. I saw a video on youtube of this lawyer Darrcell walker.
NeverGiveUp1
Jan 24, 2012

25 Million Dollar Rip Off

As I read reviews online about Edison Nation, I came across a few that read almost verbatim to my experience with this company! I submitted an idea to them and it made it to the 3rd tier only to stop there. I thought ok, that's fine but THEN less than one year, I saw an advertisement for my same idea - right down the EXACT illustration mock ups, ad-copy and other information that I submitted directly to Edison Nation! I was floored and angry and hurt all at once. I contacted EN and they, of course, gave me the standard Plausible Den. rhetoric; however, both I and God know what transpired there. The problem may or may not be at the top levels of the company, but somewhere within their system they are flawed because someone within their company 'leaked' my idea (or just outright sold it) to another company for profit. I received nothing but broken dreams. Thank God I am not a quitter but DO NOT SEND YOUR IDEAS TO THIS COMPANY. This is the inventor's greatest nightmare.
bgkaake
Mar 12, 2012

25 Million Dollar Rip Off

Edison Nation and Louis Foreman do not run a non-profit organization. None of Louis Foreman's at least 5 companies are non-profit. If you are unwilling or unable to pursue your own invention, then you can't complain if someone else is offering the opportunity and expects to earn a very generous profit from doing so. That is business and why those who have money tend to make more money.

Jen, Venting, and Ideas, need to educate themselves about the ins and outs of the inventing process through a non-profit educational association [local inventors organization or the United Inventors Association (501 (c)(3) non-profit (www.uiausa.org)] because their comments are naive at best. Be ware of those that claim they are there for educating the inventor but are just a front for a profit-making company. Look for educational inventor organizations listed on the United Inventors Association's website.

Inventing, like starting any business, is a high risk endeavor and the vast majority fail in the first year. Inventors' product ideas tend to fail at an even greater rate than traditional start-up businesses. Even the products that Edison Nation has invested in and taken to market on behalf of inventors have not succeeded as well as one might think. It is not easy or everyone would do it. Foreman's companies make money in other ways. He is an excellent promoter and knows how to leverage technology. I give him credit for that. Don't ask him to donate to your favorite charity...you will pay him for the right to submit the idea.

The majority of inventors do not understand what it takes to successfully commercialize a product and underestimate the value of a team. Many think someone should "take it and run with it" just because the inventor thinks he/she has a good idea. Get real, there are no charities for inventors who have no money. You are at the mercy of whomever you give your idea. Patents only give you the opportunity to sue someone, take 3-5 years to get issued, and cost upward of $500, 000 to litigate against infringement. I have worked with new products both with and without patents for over 16 years. What I can tell you is that if you think there is a need for a solution to a problem, someone else is thinking the same thing. Rewards go to those who act quickly. To think someone has stolen your idea is naive...they steal or imitate commercially successful products, not ideas. Move your feet, not your mouth.

Bonnie Griffin Kaake
worldtraveled1
Mar 14, 2012

25 Million Dollar Rip Off

Bonnie, I agree with the fact that it takes a lot of hard work and determination in order to get any business off the ground and that inventing - rather bringing a product to market is much akin to making a business successful. However, this 'submit your idea and watch a miracle happen' concept is JUST what Edison Nation is proposing with their inventor competitions. 'Submit your idea and if chosen, you will receive compensation. Reading some of the experiences from some of the people who submitted their ideas only to have them stolen out from under them is a horrific nightmare! Even if this type of thing only has happened to a hand full of EN submissions...really...isn't this happening ONE TIME too many times?! I am a creative productive person and I understand how they must have felt. I, too, loathed the non-producers whose sole profit core is from stealing from creative producers and fattening their own pockets without paying any compensation to the one who initiated the idea, etc. Keep your heads up, my fellow producers of the world! Karma always catches up.
bgkaake
Mar 14, 2012

25 Million Dollar Rip Off

Worldtraveled1, I agree with you that if it truly happened, even once, it is too many times. For this reason, I recommend that an inventor move quickly to commercialize his/her own product concept. There is no fairy godmother/father who is truly interested in seed stage funding. "Submit your idea and watch a miracle happen" is puffery advertising at best, gets the attention of dreamers, and misleading for the naive. First to market successfully, carries a lot of weight. If all one has is an idea, it isn't worth anything until someone does something with it that makes it commercially viable.

Again, I emphasize that many people are creating solutions for the same problem. It happens all the time and I see it when I do research for inventors to determine feasibility for moving forward.

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