The Franklin Forge: Invention Assessment
We offer a free invention assessment and reject over 90% of all ideas we review. If you submit your idea for assessment, you are not obligated to continue with our company if it passes our review.
In order for a new idea to have a chance for success, certain criteria must be met:
1. There must be a potential market.
The potential market may be broad, such as a household or automotive product; or it may be targeted for a specific market segment, such as pet supplies or camping products.
2. It must satisfy a real or perceived need.
A real need is a manual can opener. Every household needs to have a can opener.
A perceived need is an electric can opener. Most people do not need an electric can opener, but they like the convenience.
3. It should be simple.
A simple product is ready-to-use with little or no assembly, and no special tools or complicated, multi-page instructions required. It should be user-friendly.
4. It must be effective.
Whatever its intended purpose, must be efficient and effective--that is, it must do what it is supposed to do.
5. It must be affordable.
If someone invented a mousetrap that never failed, but it cost the consumer $200, who would buy it?
Cost is the number one reason we reject an idea. If it is too expensive to produce, it will be too expensive for the consumer to buy.
The assessment process takes twenty-four hours from the time we receive an idea or product improvement. Once the process is complete, we will contact you to tell you why it has been accepted or rejected.
Click here to download the Invention Record Form (including a signed Statement of Confidentiality and Non-Use) and obtain our free assessment.
Helping PEOPLE Turn Ideas into Products.