InventHelp primarily makes money through its service fees and commissions related to helping inventors bring their ideas to market. Here are some key ways they generate revenue:
1. Submission Fees: InventHelp charges inventors a fee to evaluate and submit their invention ideas. This often includes an initial consultation.
2. Patent Services: They offer assistance with patenting inventions, which usually comes with additional costs for filing and legal services.
3. Prototyping Services: InventHelp may charge for creating prototypes of inventions, which can be a significant expense for inventors.
4. Marketing Services: The company also provides marketing services to help promote inventions to potential licensees or manufacturers, charging fees for these services.
5. Licensing Agreements: If an invention is licensed to a company, InventHelp may take a commission or a percentage of the earnings from that deal.
By providing various services that support inventors throughout the invention process, InventHelp is able to create multiple revenue streams.
