SUBMIT YOUR PRODUCT IDEA / INVENTION to Global Inventions
Limited
Important - please read first. We receive invention
proposals from inventors and designers worldwide, and typically approve
just 1 out of every 100 for our commercialisation programme. To help
us avoid time-wasting we ask you to initially email a brief outline
description of your invention to globalin@netvigator.com
for consideration. If we like the concept we will email you a non-disclosure
agreement and detailed submission form to complete. Your invention
will then be assessed by our board-of-advisors. Athough we understand
that paperwork is necessary, we do however prefer to spend our time
doing what we do best - actively marketing innovative products to
our extensive group of retail buyers.
About the process - after the initial approval stage
We will review your invention with our board of advisors. Subject
to a positive outcome and your response to any further questions,
we will then discuss the financial terms in greater detail (see below)
and begin the commercialisation process. Please note that we never
guarantee the success of your invention, but assure you of our best
endeavours with any project in which we invest. Remember that your
application is more likely to be successful if you have a working
prototype or sample for us to present to buyers.
Database of buyers
We have participated at trade fairs over the past 14 years and currently
manage a database of approximately 4,000 buyers including many from
internationally renowned retail chains, department stores and mail-order
companies. We can reach all these buyers via email with a click of
a button.
Hong Kong showroom
Our showroom is situated in a convenient and sought after location
in Hong Kong. We welcome trade buyers throughout the year.
Our commercial success rate
Since 2001,our success rate in commercialising inventions is in excess
of 90%. This is because we strongly believe in only marketing inventions
that make money. We do not waste time on inventions that do not have
adequate commercial potential. We also believe in making money from
commercialising inventions and not charging up-front fees as most
other companies that represent inventors do. Lastly, in certain cases,
where we are uncertain of the marketibility of the invention, we will
brainstorm with selected buyers before we incur any expenses such
as production tooling. This helps us to avoid failures and improve
our record of successfully commercialised inventions.
How profits are shared between Global Inventions and the
Inventor
We share profits in one of the following three ways:
1 - If GIobal Inventions invest in the origination costs (tooling,
software etc), then the inventor receives royalties of 3-5% of the
total net sales figure (explained below)
2 - If origination and development costs are shared on a 50-50 basis,
then we will share the profits (sales minus additional costs such
as advertising) on a 50-50 basis
3 - A suitable alternative working relationship that is acceptable
for both parties
Royalties
If we are successful in marketing your product, we will pay between
3% and 5% of the total net sales figure. For example if Boots or Walmart
orders 800,000 units of your 'superwidget' at US$2.50 / unit, then
net sales = US$2,000,000. You as the inventor will receive between
US$60,000 to US$100,000. These payments are made 3 months in arrears.
Your accountants are welcome to audit our accounts at any time.
Patent rights
We never get involved in this. Remember that your invention may be
valuable and it is your responsibility to protect it with a patent
/ registered design / trade mark / copyright before you submit it
to us for consideration.
Our simple formula
Our simple formula is that we provide '3M' - Marketing, Manufacturing
and Money for the right invention.
