Corporate "Got a idea for a tool?" programs

[wyndycity]

Has anyone here ever participated in those "Got an idea for a tool" programs that I see on a lot of tool brand sites? Craftsman has it and I just saw it on the Gearwrench site.

Looks like Kobalt, Napa, Matco, and Armstrong among others are all joint partners in the same program too....

http://www.newtoolinventor.com/process

I'd like to know what sorts of things these companies have made based on these programs and what kind of profit share the "inventors" get. I imagine the upside to programs like these is that you can be an inventor without dealing with all the legal baggage but you probably don't get as nice of a profit as if you did it on your own.

It'd be pretty sweet if I could come up with an idea but I've got nothin' :headscrat

[Stuey]

I remember looking at the small print of Craftsman's program, and the wording certainly didn't seem to be in the best interest of an inventor.

[mmg440]

I remember looking at the small print of Craftsman's program, and the wording certainly didn't seem to be in the best interest of an inventor.


Ditto on Lisle tools program. I had a idea and decided not to send it in just because of the fine print. Basically I would of gave up all rights for there discretion for them to maybe make me a offer?? At that point why would they offer me anything they would of had all the rights just by me sending it in. At least that is what I am remembering about it at this time.

[bchee]

I submitted some ideas to Lisle but they were sent back to me denied. This was more than 5 yrs ago.

[CatfishXpress]

If I had some little insignificant idea, I might submit it through one of the tool companies, might make a couple of dollars, or maybe some free tools.

But if I hit on a good idea, I will be taking the old fashioned route and getting my own patent. After I get it patented then me and my lawyer will talk to the tool companies.