The scam starts with a commercial by InventHelp. You see that commercial offering you the platform for making your invention known to the entire world. InventHelp reputation and reviews will claim that it would help you in marketing your idea and get you huge returns.
They start by sending a free package that contains the contract agreement and the NDA. You are required to fill this up and send back to the company and they say that they would be doing a free review.
Then, you will get a call from a consultant after few days of sending the agreement. You would be told that the idea was a masterpiece and analyzing the potential of the idea, they would be happy to collaborate with you.
They will send you a contract for that would cost you from $300 to $1500 for a research report. They even suggest that the money would be refunded incase the research report is negative which is never the case. Their plans are very deceptive. Once, the report is successful, they ask you to make the highest payment for registering for the highest profit for the invention. It starts from $2000 and can go up to $12000. By paying $12000, you get 90% share and it decreases as the amount goes down.
Most of the investors are enticed to pay the highest amount thinking that they would be earning millions later. The point is, they would not underline the challenges and risks associated with the new invention. The government rule says that the companies offering such services would provide all information in written about the risks. But, they would not say it upfront.
They will also tell to do the patent process which they offer at a lower price from their end. However, that is not an actual patent. It covers for a year and gives the time to the inventor to register for the patent which costs up to $15000 within that year. However, they simply register with that 1-year plan for $130.
The lies continue and the salesperson is well trained to make it sound lucrative. In no way, you will ever know that these guys are scamming you until you realize that you have lost all your money.
They are trained to seem sincere which they are not. It can take up to 4 months for you to realize that you were scammed. The company that you paid them money is not expertise in selling your invention. But, it would be too late by then.
InvestHelp was known by the name Invention Marketing Inc, Invention Submission Corp., and IntroMark. It kept changing the name after being accused of scams and frauds. God knows, from where they get the heart to fool so many people and ask for an outrageous fee for marketing their inventions.
If a company is genuine, it would never ask for this kind of fee for marketing your invention. In addition, it would talk to you about the risks associated with these kinds of opportunities.