About the DRTV Product Summit
What is the DRTV Product Summit?
The DRTV Product Summit, hosted by InventionHome, is a one-day event that gives everyday inventors the opportunity to pitch their products to six leading “As Seen On TV” companies in one location. Twenty-four inventors will be selected by a panel of judges using the submission criteria provided above. These inventors will then receive 10-minute private pitch sessions with each of the companies in attendance.
Where and when does the DRTV Product Summit take place?
The DRTV Product Summit will be held October 24, 2013 on the campus of Robert Morris University in Pittsburgh, PA, just minutes from Pittsburgh International Airport. We are happy to recommend hotel accommodations near Robert Morris University.
Submit Your Product
Frequently Asked Questions
How many inventors are selected to present at the DRTV Product Summit?
Due to time and space restraints, 24 inventors will be invited to attend the event. Please bear with us as we narrow the submissions down to the 24 attendees, each of whom will be notified in mid September.
How do you select inventors to participate?
We will review each entry carefully and rank them according to the requirements of a successful DRTV product. The top 24 ranked products will be chosen.
Is it truly free to attend?
Yes, it is free to present your product to all the companies in attendance. However, you must pay for your own travel expenses. Inventors accepted to attend will be required to hold their reservation with a credit card or proof of travel arrangements (non-refundable flight or hotel reservation). This is simply to prevent no-shows from detracting from the event and is not meant to add any type of fee.
Do I need a patent?
For your protection we strongly recommend that inventors have some sort of patent protection, whether issued or pending. Keep in mind, unlike other companies in this business, we do NOT ask you to assign your patent / intellectual property rights over. You maintain ownership throughout the process.
Is this event similar to a trade show?
The DRTV Product Summit provides numerous advantages over trade shows, such as:
- The event is held in one day, not over the course of several days, for ultimate convenience.
- There is no booth to rent, no exhibitor fees either.
- You will receive six private meetings with highly respected companies. You will receive their undivided attention (no distractions).
- Companies in attendance are actively seeking products to license and/or distribute; you will have a captive audience.
What happens if a company is interested in my product/invention?
The terms of submission require you to name InventionHome as your Agent if any of the attending companies decides to pursue your invention further. This benefits you in many ways, such as:
- InventionHome manages the entire product review and evaluation process, commonly referred to as "due diligence".
- InventionHome handles contract review and contract signing in cooperation with you.
- We ensure that the company follows through on all deliverables that were outlined in the agreement and that they are paying royalties on time.
What agent fees are involved?
First, we reiterate that there is no cost for you to attend the event. If and ONLY if one of the companies attending the event has interest in pursuing your product, and you accept their offer to license and/or distribute your product, then we do have a modest commission. As your agent, InventionHome receives a broker fee for any revenue you may receive pursuant to any agreement, written or oral, between you and a third party introduced as a result of the DRTV Product Summit. The broker’s fee is 20% of any gross revenue received for a license agreement or 5% of wholesale net revenue.
Why do I need an agent?
InventionHome is pleased to offer the Product Summit as a chance for our member companies and our inventor clients to meet in person. Our only compensation from the inventors is in the form of a commission that is very reasonable in accordance with industry standards should you successfully sell or license your product.
How do I know InventionHome or a company won’t steal my idea?
At InventionHome, we pride ourselves on integrity, and can assure you that our objective in holding this Summit is to help inventors secure marketing deals. Also, the companies we have invited are all reputable and we have grown to know and trust them in our business dealings. Keep in mind, though, that you are submitting your product on a non-confidential basis and we highly recommend that you have patent protection in place before doing so.
If a company likes my product, what compensation will they offer me?
We don’t know up front, each situation is unique. You can be assured that we will advise you through the process based on our experience with hundreds of agreements.
What happens to my submission if I am NOT chosen to attend the event?
If you are not selected to attend, that doesn’t mean that you don’t have a great product idea! Unfortunately, due to space limitations, we can only invite 24 inventors to this event. However, we will be presenting each of the companies in attendance with a presentation including ALL of the product submissions that meet the criteria outlined above. If any of the companies expresses interest in your invention, we will notify you and proceed as your Agent through the due diligence process.
Under no circumstances will InventionHome disclose your submission to any companies not attending the event.
Please keep in mind that InventionHome and our affiliate division MatchProduct both offer invention marketing and licensing services. We work with over 3,000 companies seeking new products to license and distribute. Let us know if we can assist you!
Submit Your Product