The Franklin Forge: Costs
PROTECT YOURSELF - BE INFORMED OF ALL FEES BEFORE DISCLOSING YOUR IDEA TO ANY COMPANY OR PATENT ATTORNEY.
As you can see, we are fully transparent when it comes to total cost. We are the only company in the industry that gives you this information right up front. Here’s the breakdown on our fees.
- Invention Assessment: There is no fee for our assessment process. Some companies will charge $200.00 or more for an assessment. There is no reason to pay any company for an invention assessment. Companies need this information in order to make a decision as to whether they should accept or reject your idea. Why should you be charged for it?
You should also note that many companies will not provide a market assessment. They will work with any idea even though it may not be marketable.
- The Patent Search: We offer two types:
The Screening Search is $295. This search covers conflicts.
The Novelty Search is $495. This search covers conflicts and patentability.
- The Patent Application and Industry Presentation Program. This Program gets your patent application filed for Patent Pending status. Once you are pending, we begin submitting your idea to manufacturers for a potential licensing/royalty agreement or buy-out.
The patent application is done professionally and will include: 1. Summary of Invention; 2. Preferred Embodiment; 3. Technical Drawings; and 4. Description of Drawings. You will able to review and approve your patent application before it is filed with the U.S. Patent and Trademark Office.
The fee for our Program will vary as indicated by the Options listed:
|
Total Fee |
Initial Deposit |
10 Monthly Payments Of |
Forge Percentage |
Option 1 |
$3,000.00 |
$2,000.00 |
$100.00 |
30.0% |
Option 2 |
$3,750.00 |
$2,000.00 |
$175.00 |
15.0% |
Option 3 |
$4,500.00 |
$2,000.00 |
$250.00 |
7.5% |
Option 4 |
$5,250.00 |
$2,000.00 |
$325.00 |
3.75% |
Fee Reduction: If you wish to pay the Total Service Fee at the beginning of the Program, you will be entitled to a 25% reduction in the Fee. Option 1 would be $2,250.00; Option 2 - $2,812.50; Option 3 - $3,375.00 and Option 4 - $3,937.50.
No matter what option you choose, the program remains the same. The difference between the options can be seen in the “Forge Percentage”. This refers to the percentage you would assign to The Franklin Forge. When we are successful in securing an agreement for you, we would be entitled to a percentage of the your proceeds. The percentage only comes into play if an agreement is reached through our efforts.
How does this work? Here are two examples. We find a manufacturer to produce and market your idea and yearly sales require the manufacturer to pay you $75,000.00 in royalties. This is how the percentage breakdown would work:
|
Your Share |
Our Share |
Option #1 is 30% |
$52,500.00 |
$22,500.00 |
Option #2 is 15% |
$63,750.00 |
$11,250.00 |
Option #3 is 7.5% |
$69,375.00 |
$5,625.00 |
Option #4 is 3.75% |
$72,187.50 |
$2,812.50 |
Example Number 2: If yearly sales require the manufacturer to pay you $250,000.00, the breakdown would be:
|
Your Share |
Our Share |
Option #1 is 30% |
$175,000.00 |
$75,000.00 |
Option #2 is 15% |
$212,500.00 |
$37,500.00 |
Option #3 is 7.5% |
$231,250.00 |
$18,750.00 |
Option #4 is 3.75% |
$240,625.00 |
$9,375.00 |
This percentage is our incentive. If we are going to enjoy any substantial financial benefit from your idea, no matter what option you take, we have to make you successful by finding a manufacturer who will produce and market your idea. Other companies that charge $10,000.00, $25,000.00…or more...make thousands of dollars profit off the fees that they charge you...and they ask you for up to 20% of your royalties. And, in many cases, their fees do not include a patent application.
Click here to download the Invention Record Form to obtain our free assessment.
Helping PEOPLE Turn Ideas into Products.