How Do I Get a Company to Buy My Idea?
Do you have lots of great ideas but struggle to turn them into reality and you are wondering if there are companies that pay for ideas?
If you’re the kind of person who has amazing ideas all the time but is never sure how to put them into action to make some extra money for yourself.
This list of companies and guidelines below could be just what you need to help you make money with your ideas.
Companies that Pay for Ideas
While companies may occasionally purchase ideas, it’s important to understand that they aren’t obligated to accept or approve every idea presented to them.
This is the list of some companies that pay for ideas;
1. Unilever
Unilever is a huge corporation and one of the biggest product developers in the world.
This company specializes mostly in food and hygiene products and they are always looking to partner with new inventors.
They can submit ideas through the company website.
2. Tailor-Made Products
One of the leading custom injection molding companies in the Midwest. They began with affordable high-end kitchenware products and have now, as a result of working with inventors, expanded their range to include pet and hardware.
They are focused on penetrating multiple marketplaces and encouraging a drive for innovation.
Tailor-made products like you to be as complete as you can with your product and to be open to collaboration.
3. Henkel
This is the parent corporation of the producers of Right Guard and Dial soap. They also operate the Henkel Partnership Program.
This is a contest that they sponsor for budding inventors and innovators in technology.
They also encourage environmentally friendly ideas.
4. Sharper Image
This is a company that focuses on staying ahead of the game when it comes to technology, toys, and innovative gadgets.
They assign teams to do nothing but sift through the ideas that are sent to them by new inventors.
When you submit a new idea to Sharper Image, the company asks that you send them an email with a description of your product, as well as a picture or video.
5. Dorman Products, Inc.
This company specializes in hardware, houseware, as well as automotive products. Dorman is mostly a distributor of products but they are always looking for new items to add to their lineup.
If you are already producing your product, you can send them a 3D sample for consideration by their review team.
6. Jokari Home Solutions
If you are looking to sell invention ideas that fall under the category of houseware, Jokari Home Solutions is always looking for innovative ideas to bring to the market.
For those who have developed a new kitchen gadget or home organization product, you’ll want to consider submitting your idea here.
Jokari Home Solutions has a form on their website where you can fill out your information and submit it for consideration.
7. Coastal Pet Products
The Coastal Pet company is dedicated to bringing the best pet collars and leads to the consumer. For pet lovers, this may be the perfect place to pitch your idea.
They are always looking for new product ideas that make life better for pets and their owners. If you have an idea for a new type of pet collar, this company will welcome the chance to look at your invention ideas.
8. Hearlihy & Company
Hearlihy & Company produces educational supplies for everything from drafting tools to Life Education and technology.
If your invention falls in this category, this would be an excellent company to submit your idea to.
9. Builders Inventions
If you are a tradesman and have an idea for a new tool, some companies buy ideas, such as Builders Inventions. This company specializes in producing tools that are invented by builders and tradespeople.
If you have an idea for a tool that would be useful for contractors and builders to use on their job sites, you can contact this company to ask about submitting your idea.
10. Coleman
If you have an idea for a gadget that would be useful for outdoor recreation, Coleman is one of the companies that you will want to look at.
Coleman produces outdoor products such as camp stoves, tents, lanterns, and even camp trailers just to name a few of their products.
If you have an idea for an outdoor product that would fit with this company’s offerings, you can contact them and offer your idea for review.
11. Wild Planet Entertainment
Wild Planet Entertainment produces toys that encourage children to be creative. I meant their products to promote a child’s imagination and encourage them to explore the world they live in.
Wild Planet Entertainment is dedicated to safe manufacturing products, as well as durable, and fun for kids of all ages.
If you have an idea that fits within this company’s spectrum of products, they encouraged you to contact them and ask about their idea submission process.
12. Pro Performance Sports
This company produced the best in sports training products.
If you have an idea for a product that you believe would be a good fit for Pro Performance Sports, they encouraged you to print a copy of their submission form and return it as directed on their website.
13. Dewalt
Dewalt is a leading hardware tool producer and the company’s online submissions system is always open for new product ideas to be put forward.
So, it is recommendable.
14. Cal-Van Tools
Cal-Van Tools regularly works with independent inventors when developing new automotive product ideas.
We can find the submission form on the company website and they offer competitive royalty rates to inventors.
15. Avery
Avery has recently teamed up with Evergreen Innovation Partners to make it easier for inventors to present their product ideas to the company.
They specialize in the production of office supplies, so if you have an idea in this area this could be a good place to submit it for consideration.
16. Mattel
If you have an idea that you feel would fit in with the famous Mattel brand, you can submit this through the company website.
Ideas for new toys, games, and baby gear are all accepted.
17. Bosch
Bosch, a top German engineering and technology company, makes a wide range of products like home appliances, security devices, IoT, power tools, and automotive gear. They’re really strong on fresh ideas.
If you’ve got an idea that fits with the things they make, you can send it to their team. They’ll take a look, and if they like it, they’ll reach out to you.
18. Nautilus
High-quality fitness equipment is the focus of Nautilus.
They operate worldwide so if they pick your idea up, there is potential for it to be sold to a global market. Submit your ideas through the Nautilus website.
19. Wilson
Wilson produces sporting goods and equipment and accepts new product ideas through their website.
The submissions are regularly reviewed and they will be in touch if they feel yours fits in with their brand.
20. Fila
Fila receives a huge number of new product ideas and designs every day.
However, many of these go unchecked or unused as Fila specifically states on their website that the only ideas they will consider must be patented.
They do this to prevent any confusion around compensation and it also serves to further protect the creator. If you have a patented idea, you can send this to Fila via mail.
21. New Balance
New Balance, one of the Companies That Pay For Ideas 202 has adopted a very similar ethos, also because of the high volume of unsolicited ideas they receive daily.
We can send patented ideas for new products to New Balance using their online submissions form.
22. Knight & Hale
Knight & Hale are hunting equipment manufacturers and are always on the lookout for new, inventive product ideas.
To submit your ideas to Knight & Hale, fill out their online form and wait to hear.
23. New Soda
Sending your product ideas to New Soda couldn’t be easier. Simply send the product details off to them through their website’s submission form.
They look for products in a range of different categories, although currently, they specialize predominantly in kitchenware.
24. RB
If you have a great idea for a new health or hygiene-related product, sending this to RB might result in your product being manufactured and sold in various countries across the world.
It should make submissions through the RB website.
25. Escalade
Escalade is another sporting goods produced and welcomes new ideas from independent inventors.
You can send your idea to them through their website or you could call them.
26. Spectrum Brands
Spectrum Brands is a consumer products company that owns several high-profile global brands.
They accept new product ideas in a vast range of categories such as home and garden, hardware tools, and pet care.
27. WillowWood
WillowWood works alongside clinicians and amputees to develop high-quality equipment and medical products.
Ideas for new products or developments on their current products are accepted by the company and can be submitted via an online form.
28. DJO
Products designed to aid post-surgical rehabilitation and orthopedic care are the focus of DJO Global.
If you have an idea that you think could revolutionize this industry or make a difference in someone’s life, these can be sent to DJO using their submissions form.
29. Medtronic
Medtronic also develops products within the medical field.
If you have a product idea that falls within this category, you can send this to Medtronic via email or mail.
30. Applied Medical
Applied Medical is also committed to developing new, innovative products that can positively impact the work of healthcare professionals and in turn, the lives and well-being of their patients.
They welcome new product ideas or enhancement ideas for their current product range, and these can be submitted on the company website.
31. Hershey
Hershey’s accepts new ideas for food products, although it is unclear from their website how their payment process works, and their terms and conditions state that not all ideas will be paid for.
Bear this in mind and perhaps consider contacting Hershey’s directly to request an NDA agreement before sending over your ideas.
32. Coca-Cola
As one of the world’s largest multinational companies, the Coca-Cola brand is recognized globally.
If you have a great idea for a new food or drink product, or ideas on how they could reduce plastic waste or revolutionize their products, get in touch with them through the company website.
33. Lear
Lear specializes in automotive technologies and develops new, innovative initiatives in this field.
If you have an idea for Lear, they ask that inventors send these in through their website.
34. FastCap
Fastcap is a successful product developer and retailer, providing woodwork and cabinetry as well as equipment and tools.
They receive a high volume of idea submissions and estimate that one in a hundred proves successful.
To submit your idea, you’ll need to record a video outlining your invention and upload this through their website.
35. Play with a Purpose
Play with a Purpose produces children’s toys that are designed specifically to help with developmental learning and the refinement of motor skills, balance, and physical ability.
If you have an idea that you think could be valuable, send it over through the Play with a Purpose website.
36. Fliptopia
It’s like a shop akin to Flippa where one can buy and sell apps.
In case you have several nice ideas for apps and you think that they could be reasonable, you can invent them and market them on Fliptopia to earn some money.
37. Rico
This means making innovative sports gear available to big leagues such as the NBA and NHL.
If there is something you believe will give an athlete an advantage and you come up with an idea for a new sports gear, submit it to Rico.
38. Eco Products
This company specializes in recycling used single-use plastics and then making products out of them. It is a good cause because it does two things.
First of all, it reduces the amount of waste that is generated, and secondly, it helps the environment. If you have some proposals for reusing one-time applications of plastics, you can present them to Eco Products.
39. GungHo Online
GungHo Online is a Japanese game company that provides games like Ragnarok Online which is the game that is so popular.
They’re aiming to come up with new applications to remain competitive in the market. If you have the idea of the game that could help them become famous again, you can test it.
40. Wham-O
Wham-O designs toys that promote the creativity and imagination of children. If you are inventive and your new toys are unquestionably the favorite of children, you might be making a lot of money.
To witness children play with their toys that are based on your ideas will, of course, be very fulfilling.
How to Make Money Selling Your Ideas
Here are some tips and advice on selling your ideas:
1. Read the Fine Print
It is of utmost importance that you peruse carefully and read through the terms and conditions of the company before you submit your ideas to them.
The case is that some companies might refuse to compensate for unasked suggestions or they may not keep them secret.
As you read this, you will be able to get a grip on all the specifics of the situation, and this will help you to shape your expectations appropriately.
2. Consider Getting a Patent
If you think your invention is worth the money, register the patent for it.
This can raise the likelihood of earning money from it, particularly if it is taken into account by an organization.
As an inventor, patents are the instruments that guarantee your rights for about 20 years, and within this period you have the sole authority to market your product.
3. Target Relevant Companies
Don’t just mail your idea to a given company with no proper targeting. Concentrate on the ones that will be instrumental to your idea.
This could be as simple as an automotive company not caring about kitchen gadgets won’t be their business.
Instead of focusing on a generic market, try and narrow down the market that resonates with your product idea, which will save you time and increase your chances of success.
If you want to make money from your ideas, you should be prepared to work hard before you can earn. The best and most valuable things are usually the ones that call for great effort.
Therefore, if this is a path you truly possess great motivation for, you could try to get in touch with one of the companies that purchase ideas from our list.
Make sure to meticulously read the information, and try to remember about the protection of your ideas in the submission.