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Bold News! Beware of Innovative Fraud: Trust The Professionals

Fraud is an unfortunate constant in life. One that even the world of innovation is not immune from. One such source of fraud however that preyed on the hopes and dreams of innovators is no more. World Patent Marketing has been shut down by the FTC and their assets frozen. World Patent Marketing bilked likely millions of dollars out of innovators. The “success stories” they touted were in fact not inventions the company helped market, and the positive reviews were written shortly after customers signed, not after they had success. Rather than talking with attorneys, potential innovators instead talked with salespeople, who pressured them to make a decision quickly rather than allowing them to think about their decision. Without any kind of real in depth marketing or legal analysis potential innovators were told their ideas were not only patentable but marketable. In no part of the process do the consumers talk with an attorney, salespeople remain their sole point of contact.

Having a certified and bared attorney, like the established and certified attorneys of Bold IP, is an essential part of the process. Only an attorney steeped in patent law can, after thoroughly searching the prior art, make an assessment on patentability, and as always, nothing is ever guaranteed. Sales figures and projections require MBA’s, like those at Bold IP, who can fully assess the market for a potential product. ANY company that isn’t allowing you to talk to an attorney, is not a company you should be doing business with or trust with the disclosure of your invention. Here at Bold IP, we will not only tell you after doing a thorough search if your invention is patentable, you will be able to talk with an attorney throughout the entire process. Through email or phone if you have a question, a patent attorney will be there to answer your inquiries.

World Patent Marketing also misled innovators about the law. Telling innovators they would be able to secure global patent protection. No such thing exists. Each country has its own patent laws and though a PCT can be filed it only secures a priority date. Individual patents must then be filed in the specific countries where patent protection is sought. Before you sign with a company, make sure they understand actual patent law. Look for attorneys, like those of Bold IP, who write blogs about legal subjects.  Blogs posted on the law firm’s website are fine, but firms, like Bold IP, who have blogs posted on reputable non-firm affiliated blog sites are even better.

Finally, World Patent Marketing assured not only its customers they could get a patent, but that no further fees would be forthcoming. Unfortunately, this is something no one can ever claim. The patent office could always deny you a patent, and more work and thus more fees can always be required. Do not believe anyone who tells you otherwise.

The FTC tries to regulate competition, but ultimately it is up to the innovator to cap off the years of hard work they put into designing their invention by finding a partner to assist them with patenting. Don’t be fooled by snake oil salesmen. Find a true attorney who not only understands the law, but also will stick by you and Boldly guide you through the patenting process.

Author: Daniel Cole, Patent Attorney

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