If you’re an independent inventor or creator with a groundbreaking idea, you may have considered selling your innovative product idea to a developer or manufacturer. Fortunately, there are many companies out there that are willing to pay for new and creative ideas. These companies actively seek the next big idea to revitalize or transform the consumer market.
In this article, we’ll provide you with a list of companies that are open to purchasing innovative product ideas. Additionally, we’ll discuss important factors to consider when selling your creative idea and answer some frequently asked questions to ensure you enter into any agreement with the necessary knowledge and awareness.
Selling your invention idea can be an exciting opportunity, so let’s explore the options and insights to help you navigate this process successfully.
Dewalt:
Dewalt is a leading producer of hardware tools and they are constantly looking for new product ideas and inventions. They have an online submission system that is open for idea submissions.
Unilever:
Unilever is a global corporation specializing in food and hygiene products. They actively seek partnerships with inventors who have practical innovations. You can submit your ideas through their website for consideration.
Cal-Van Tools:
Cal-Van Tools collaborates with independent inventors to develop new automotive products and tool ideas. They offer competitive royalty rates and have an idea submission form on their website.
Avery:
Avery has partnered with Evergreen Innovation Partners to streamline the process of presenting product ideas to the company. Avery specializes in office supplies, making it a suitable option if you have an idea in this field.
Mattel:
If you have an idea for a toy, game, or baby gear that aligns with the Mattel brand, you can submit it through their website. If they find your idea appealing, you may receive compensation for it.
Sharper Image:
Sharper Image is a well-known company that purchases invention ideas. They specialize in toys, electronics, gadgets, and technology products. Their dedicated team actively seeks new ideas that align with their brand and are willing to pay for ideas they find suitable.
Wilson:
Wilson is a well-known producer of sporting goods and equipment. They accept new product ideas through their website and regularly review submissions. If your idea aligns with their brand, they may reach out to you.
Fila:
Fila receives numerous new product ideas and designs regularly. However, they specifically state on their website that they only consider patented ideas. This requirement ensures clarity regarding compensation and protects the creator. If you have a patented idea, you can submit it to Fila via mail.
Idea Buyer:
Idea Buyer is a product development company that welcomes ideas in any category. They offer assistance in developing and presenting your idea to producers and potential partner stores. They are known for being inventor-friendly and can help bring your idea to the market.
New Balance:
Due to the high volume of unsolicited ideas they receive, New Balance accepts patented ideas for new products through their online submission form.
Knight & Hale:
As hunting equipment manufacturers, Knight & Hale actively seeks new and inventive product ideas. To submit your invention ideas to them, fill out their online form and wait for a response regarding further design considerations.
RB:
If you have an excellent idea for a new health or hygiene-related product, submitting it to RB might lead to its manufacturing and distribution in multiple countries. RB is constantly searching for new ideas, and you can submit yours through their website.
Escalade:
As a sporting goods producer, Escalade welcomes new ideas from independent inventors. You can submit your idea to them through their website or contact them directly for further discussion.
New Soda:
New Soda specializes primarily in kitchenware and kitchen gadgets but also looks for products in various categories. Submitting your product ideas to them is simple through their website’s submission form.
Coca-Cola:
As a globally recognized brand, Coca-Cola welcomes ideas for new food or drink products, as well as suggestions on reducing plastic waste or revolutionizing their offerings. You can contact them through their company website.
Lear:
Lear specializes in automotive technologies and seeks new and innovative initiatives in this field. To sell your invention idea to Lear, they request inventors to submit their ideas through their website.
Hershey:
Hershey’s is open to new ideas for food products, although their payment process is not clearly specified on their website. Keep in mind that they do not pay for all ideas according to their terms and conditions. Consider reaching out to Hershey’s directly to discuss an NDA agreement before sharing your creative ideas.
Play with a Purpose:
Play with a Purpose creates children’s toys that aid in developmental learning, motor skills refinement, balance, and physical ability. If you believe you have a valuable idea, you can submit it through the Play with a Purpose website.
FastCap:
FastCap is a successful product developer and retailer, specializing in woodworking, cabinetry, equipment, and tools. They receive a high volume of idea submissions and estimate that only one in a hundred ideas proves successful. To submit your idea, you’ll need to record a video outlining your invention and upload it through their website.
Eco Products:
As the name suggests, Eco Products specializes in environmentally friendly products, primarily related to food and drink items. If you have a product idea that could change the way consumers view single-use or environmentally harmful materials, you can send it to Eco Products for review.
Coghlan’s:
Coghlan’s accepts new ideas in the outdoor recreation and camping categories. However, they require ideas to be patent protected or patent-pending. If you have a new product idea in this field, you can submit it using their online form.
Mustang Survival:
Mustang Survival specializes in water rescue and survival equipment. They welcome new product ideas, which can be submitted via their website.
ShurTech Brands:
ShurTech Brands owns various tape brands like Duck Tape and Frog Tape. They are open to outside ideas for new products or innovative uses for existing products. If you want to sell your invention idea, you can submit relevant proposals through the company’s website.
Miller Manufacturing:
Miller Manufacturing focuses on pet-care and animal-care products. If you have an idea in this category, you can submit it for consideration to this large-scale company via email.
Frequently Asked Questions:
Q: How can I protect my invention idea before submitting it to companies?
Answer: It’s crucial to protect your invention idea before sharing it with companies. Consider filing for a patent or at least obtaining a provisional patent application to establish legal protection and prevent others from claiming your idea.
Q: Do these companies only accept patented ideas?
Answer: Each company has its own submission requirements and preferences. While some may accept ideas without a patent, others may prioritize patented ideas for clearer ownership and compensation terms. It’s important to review the guidelines of each company before submitting your invention idea.
Q: How much can I expect to earn by selling my invention idea?
Answer: The compensation for invention ideas varies depending on several factors, such as the company’s evaluation, the uniqueness and market potential of your idea, and the negotiation process. It’s advisable to research and understand industry standards and be prepared for potential negotiations to ensure a fair and satisfactory outcome.
Conclusion:
Selling your invention idea can be an exciting opportunity to bring your innovation to the market and potentially earn compensation for your creativity. The listed companies in this article actively seek new and innovative ideas, offering various opportunities in different industries. However, it’s essential to thoroughly research each company’s submission requirements and consider legal protection for your idea.
By navigating the submission process carefully and being aware of the potential value of your invention, you can increase your chances of success in selling your invention idea to these companies.
