Subject: Are there hidden costs associated with an idea after the $25 fee?
Original Post
Gr8
via web
Just wondering. Once I pay the $25 fee for my idea (and that's
all it is), let's say things progress from there on in, all the way
to market. Are there going to be any more hidden costs to me that
I'm unaware of?
In other words, let's say my idea takes off and becomes a "best
seller". After the $25 fee and following the Edison Nation's steps
all the way to market, will I be asked at some point to ante up any
more money (which I don't have, lol).
I hope this makes sense, excuse the pun, but I am serious.
Cheers,
Gr8
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Support Staff 2 Posted by Marla on 19 Nov, 2009 01:59 PM
Hello,
No, there are no hidden costs.
If your idea is selected, we will contact you to coordinate sending you your initial $2,500 advance payment. You may receive more than the initial $2,500, depending on the success of your product in retail. The payments you receive are based on sales of the finished product and are defined in the Innovator Agreement.
If your idea is selected, you assign all rights to Edison Nation. You will always be listed as the inventor. If Edison Nation does not meet minimum requirements after five years, it will, upon written request, assign the rights back to you. The minimum requirements are outlined in the Innovator Agreement.
Thanks