How It Works
How It Works
I. What We Sell
We sell over 40 types of innovative ‘products’ that we list as ‘idea types’ in the Marketplace. These ‘products’, or types of ideas, include television commercials (anything from a video that is ready to air, to a storyboard, to even just a concept), print ads, online ads, new business ideas, new application ideas, new book ideas, service improvement ideas, product improvement ideas, and much more. For a full list of our products, go to our sell page and scroll through each of our different main category tabs. Don’t hesitate to share with us a new type of idea to sell if you have one. We’re always looking for ways to improve.
II. The Submission Process
Our Submission Process is a 4-step process. Please be patient and thorough. The more thorough you are, the better chance your idea will get sold. The first step helps us categorize your idea. The second step is where you describe exactly what it is you are selling. Be aware that the short description of what you are selling can be seen by the general public, but the meat of your idea (the exact description or media) can only be viewed by our official Buyers. The third step of the process is where you can upload any media files. You can upload video files (if you’re selling a commercial that’s ready to air, for example), jpg’s, audio files, etc. depending on what type of material you are selling. If you are including any material in your Media you do not have the rights you use, you must let us know before you can move on to Step 4. Step 4 is the Data Support page where you can indicate which demographics your idea targets. Make sure you are completely satisfied with your submission before you finalize it because once it is in the Marketplace, it cannot be edited. Good luck!
III. Pricing and Buying
All Sellers price their own ideas/content. Sell it for whatever you think it’s worth! But please be reasonable. If we believe a price for a piece of content is too high, we have the right to sell it at a lower price. Most of our idea types are sold at a fixed price, which is split 80/20 between the Seller and Idea Marketplace. A handful of idea types are sold for a fixed price but also include a backend ownership component that you split with us (Idea Marketplace) 50/50. We retain a 5% ownership in all new business ideas, books ideas, mobile application ideas, new product ideas, and new television shows sold in the Marketplace (meaning you will get 2.5%). We reserve the right to add any idea types to this list whenever we feel it is equitable. Additionally, the company, Idea Marketplace, is a Buyer in the Marketplace. If we like an idea, we will buy it and develop it in conjunction with our partners. In which case, you and Idea Marketplace become partners, and you automatically retain a 5% interest in whatever it is we buy and develop. If there is any dilution in future rounds of financing or strategic partnerships, our interests, the Seller and Idea Marketplace, will dilute proportionately.
IV. Protecting Your Ideas:
Our Buyer’s Agreement includes a general NDA that ostensibly protects all ideas in the Marketplace. However, if your idea, or any part of your idea, is patentable, then it is your responsibility to get the appropriate patent before you submit it to us. If you do not get the appropriate patent, we cannot promise that a Buyer will not try and get one before you. The contract with our buyers states they cannot blatantly steal anything off the site (as we can see all their digital finger prints). Legally, registering an unregistered patentable idea is not stealing. On the other hand, if you do have a legitimate dispute with a Buyer, it will be handled through binding arbitration. See our Terms of Service for more information.
When a buyer clicks ‘Buy Idea’ in the Marketplace that is a contractual obligation to pay you your (or our, if yours is too high) asking price for that piece of content. Buyers then have 30 days to pay us, and we have an additional 15 days to pay you, either by check or PayPal (your choice). Any distributions from sold ideas we continue to partially own in conjunction with you will be paid biannually in the same manner.
You can become a Seller in the Marketplace in one of two ways. You can either be invited to join by another member or you can apply with an idea, and we, as a company, screen it as best we can for viability. If we think we can sell it, you’re in. If not, don’t hesitate to apply again with another idea. We are trying our best to maintain the integrity of the content in the Marketplace, and while our opinions may differ on one particular idea, we are confident that people like you will continue to have valuable ideas to sell in the future.
VII. Messaging System
Buyers have the ability to send Sellers an internal email through our messaging system, and Sellers, once contacted, have the ability to respond. The same messaging system also works between Sponsors and Submitters in the Competition section and between any two members in the Community section.
VIII. Best Practices
In order for this whole system to work, Sellers must trust Buyers, and Buyers must trust Sellers. We have tried to create an environment where this happens effortlessly. In order for Buyers to trust Sellers, Sellers must make sure their idea is original, viable, and indeed, innovative. Start by doing your homework. Do a Google search, ask your friends, poke around, do some research, and lastly, try to think like a Buyer. Make sure to price your ideas realistically. A Buyer will balk at a $1 million price tag for a commercial concept. We reserve the right to remove any content that undermines the integrity of the site, so please be considerate. Most importantly, if you are a creative person, make sure to always write your ideas down. Don’t let a great idea go to waste! Creative lightning can strike at any moment.
IX. Dispute Resolution
All disputes are handled through binding arbitration. See our Terms of Service for more information. Feel free to contact us at email@example.com if you have any questions or concerns.
I. Becoming a Buyer
Until you become an official Buyer, you can only view the ‘quick view’ of our product offerings. If you would like to become a Buyer and see the full view of our product offerings, go to the Homepage, click on ‘Become a Buyer’ and fill out the required fields. An account executive will contact you within 24 hours. We have different pricing models available to accommodate your specific needs as a Buyer. For further inquiries, feel free to email us at firstname.lastname@example.org.
II. Purchasing Ideas
If you like an idea, you can buy it and use it however you like. When you click ‘Buy Idea’ from the Idea Review page, the idea is now yours, and you are contractually obligated to pay the Seller his or her asking price. If you believe the price of a piece of content is too high, you may contact us and we will determine if the price is indeed too high, or not. If we determine the price to be too high, we have the right to lower it. Most ideas, when purchased, are yours to use exclusively. However, Idea Marketplace retains a 5% ownership in a handful of ideas sold in the system. These ideas include all new business ideas, new books ideas, new application ideas, new product ideas, and new television show ideas. We retain a small slice of ownership in these ideas, which we split with the Seller, because we believe it is equitable for all parties involved, and it ensures that Sellers will continue to post great ideas in the Marketplace.
As outlined in our Buyer’s Agreement, all disputes are handled through binding arbitration with a liability cap of $100,000. Please contact us if you have any questions at email@example.com.