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ThinkGeek wants your ideas, and they are willing to pay for them! Answered

Our friends over at ThinkGeek are a smart bunch of bananas. They know that even though they have the coolest nerd-gear available that the best ideas are yet to come, and they are going to come from makers just like us. That's why they've recently launched the IdeaFactory, a place where you can submit your awesome product ideas and (if they like them) they might just turn it into a product to sell on their online store!

The gist:
"If ThinkGeek chooses to make your idea into a real product, we'll pay you an advance of $1000 and then 10% of retail sales for the life of the product up to $1 million in Net Sales. When your product reaches $1 million (yay!), the rate drops to 5%...you will also have the opportunity to purchase any quantity of the product at a reasonable price just above cost (excluding shipping). You'll be free to sell that product on your own website or when you make public appearances at conventions, trade shows, or other public events. This way you can show off your genius work and point proudly to your wallet while chuckling manically to yourself."

What are you waiting for? Head on over to the IdeaFactory and check out all the details, then submit a few of your ideas!

Discussions

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FreakCitySF

5 years ago

I just emailed Think Geek about my Han Solo in Carbonite chocolate bar. I made my chocolate bar in 2007 and ThinkGeek started selling their chocolate bar in 2009. They even state on their paged "invented at ThinkGeek". I'm sure they have sold 100,000+ of them. They even sell the molds and other chraracters from other licensed products. I'll give you an update as soon as I hear back from them. I would love 10% of back sales and future sales of the chocolate bar. I have a few other ideas that I've withheld knowing that ThinKGeek might just call it theirs.

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Machine

6 years ago

THIS section of the agreement is a bit of a worry. It seems to say that If ThinkGeek produces a similar product it can, and, sell it too.

The implication being that if my product is being sold, ThinkGeek can go ahead and produce their own version.

------------------------
8.3 This Agreement shall not limit ThinkGeek’s ability to market,
develop and provide functionally comparable deliverables or
services to others based on the same concepts, techniques and
routines. This Agreement shall not preclude ThinkGeek from
developing or providing deliverables or services that are
competitive to the Idea, irrespective of their similarity.

-------------------------

It'd be nice if a ThinkGeek person could answer some of our questions in this forum.

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belsey

6 years ago

Oh man, this is so great I can't even express how excited I am.... I have so many ideas for products which I knew I'd never have the ability or resources to develop... Thanks for posting this!

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Goodhart

6 years ago

Intriguing.....

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NXTHacker

6 years ago

ideas competition? IM IN!
I dominate at ideas competition
ive won myself a sphero by coming up with crazy ideas, how can this be any harder?
OH YES!

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NXTHackerNXTHacker

Reply 6 years ago

My ideas...truly awesome,
what are they? NOT TELLING YA!

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The Science Guy

6 years ago

Awesome! Thanks for the information! I just submitted my first idea.

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Kiteman

6 years ago

Oh...

Any idea what the [legal / IP] situation would be regarding published instructables? There's a whole lot of existing projects that could become commercial products...

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mikeasaurusKiteman

Reply 6 years ago

The fine print is in a link on their site, it looks like as long as you own the IP or it's general enough not to be copyrighted then you're good to go.

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Kitemanmikeasaurus

Reply 6 years ago

Sweet - I had images of hundreds of projects being deleted or unpublished to protect product ideas.

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Lithium RainKiteman

Reply 6 years ago

That might still happen (in fact, it might well be in the best interests of an individual who seriously thought they had a competitive idea to never publish/unpublish such an instructable containing it). It's too easy for people to take your idea, protected or not, and tweak it and get a whole new patent, for example.

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KitemanLithium Rain

Reply 6 years ago

This is true, but, speaking personally, I'm not in this for the money, I just like Making and sharing.

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colorexKiteman

Reply 6 years ago

If I enter, I'd be in for both reasons. I like making and sharing, but I need a way to support my making and sharing.

Are entries available to people outside the US?

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fungus amunguscolorex

Reply 6 years ago

The page and the fine print don't state anything about the location of the inventor.

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colorexfungus amungus

Reply 6 years ago

It seems there's no problem, as the main form has full country selection list...

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fungus amunguscolorex

Reply 6 years ago

Good spotting. Looks like many folks are good to go then.