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Throughout life, we naturally find an easier or more efficient way to do something. This leads to thoughts on how to make this new idea something everyone else can benefit from. For instances like this, there are companies that pay for ideas and can get your invention in front of the right people.
As a mom, I know there are dozens of things I’ve dreamt up that would make life easier or make my kids happy. Ideas like Pet Rocks, the upside-down ketchup bottle, slap bracelets, and Chia Pets all took off and have made inventors rich.
Don’t keep your amazing invention or business idea to yourself. Get started with the right company to get paid for your ideas. The right time to start bringing your thoughts to life is now. Take a look at these companies that will buy your invention ideas.
Things You Should Do Before Getting Paid for Your Idea
Before sending your million-dollar idea anywhere, consider taking these steps first.
Explore the Possibility of Executing Your Own Idea
If you have a viable business idea, no matter what it is, you should consider the possibility of making it a reality on your own. This could potentially earn you more money by carrying it out yourself. Invention companies that buy ideas will only give you a fraction of the lifelong income you could earn.
You could invest in your idea by hiring an app developer, website designer, or other qualified party to bring your idea to life.
Compare Your Options Before Choosing a Company That Buys Ideas
Make sure you read the small print as some companies may have strict exclusivity guidelines. This could mean that you can’t submit the same invention or business idea to multiple companies.
Consider Securing a Patent Before Sharing Your Idea
A patent gives the owner of intellectual property the right to ban others from making it. It makes the property unique. A patent can help you secure your rights to an idea before you share it with a company.
It is only possible to get a patent on completely unique ideas.
36 Legit Companies That Buy Ideas
There is no shortage of companies that buy ideas. Consider these companies that pay for ideas and submit your idea to the right one.
Invention City is specific to helping inventors get their ideas off the ground. To start, you must complete a confidential application and pay a $95 fee in order for your idea to be reviewed. The company enters into a “net sales” licensing agreement, meaning your idea makes you 5% in royalties based on the sales the company receives.
Invention City has accepted a variety of ideas over the years including the travel mug, a tofu cooking accessory, lint roller, health and beauty accessory for lips, and more. Submit your invention idea online.
Design Ideas is one of the unique companies that pays for ideas. This company specifically helps others bring ideas to life. Design Ideas is proud to work with uncommon ideas with technologies in a variety of fields. It is known for some designs in BioDesign and NASA. Contact the Design Ideas team to inquire about submitting your idea to them.
All Star Innovations
All Star Innovations has helped many clients make their ideas a reality such as the Snuggie, Magic Mesh Hands-Free Screen Door, and Debbie Meyer Green Bags. Complete the four-step application process to submit your product idea to the company. The form is time-sensitive so be mindful.
Bosch is a company focused on technology products and services. It accepts innovative ideas for things like smart homes and other technology and software-related services and products.
The process can take about eight weeks from initial check to facilitating collaboration. Each idea accepted and executed will vary in payment. Choose the best option on the innovations page to start the submission process.
Sharper Image is known for consumer goods that revolve around high-tech home and lifestyle electronics, air purifiers, and more. It accepts idea submissions through email at firstname.lastname@example.org. In your email, describe your product, send a video or photo of it, detail who it is currently being sold with (if applicable), and don’t forget to add in your name and phone number. There is a 14-day follow-up period.
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Procter & Gamble
Procter & Gamble (P&G) is known for household goods for kitchens, bathrooms, living rooms, and even the laundry room. Its products are known for keeping household life simple.
P&G accepts ideas on an as-needed basis, meaning it will post the type of innovative ideas it is looking for. There is a separate section to submit an idea that is different from what is posted to keep on hand for possible future use. Submit your idea through the company’s application page.
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Hyde Tools is known for its variety of tools from painting items to putty knives and even dust-free gloves to help consumers with their home projects. Hyde seeks inventions along the lines of hand tools for contractors and DIYers. If your invention fits into that category, submit an application online for consideration.
Hillman Group helps hardware stores fill their inventory with sustainable, quality products from brands such as Gorilla Grip, PowerPro, Minute Key, and more. Products that Hillman Group sells include electrical, plumbing, fasteners, and other hardware.
Hillman Group is one of the top companies that pays for ideas. Contact Hillman Group to inquire about idea submissions.
Garden Weasel creates products for making gardening life easier. Products include hand tools, weeders, edgers, and even thermometers. Use the contact page to submit your garden-related idea to the company.
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Wilson is known for all things related to sports like clothing and equipment for every sport imaginable. Wilson accepts idea submissions that are geared toward innovating sports and enhancing the industry. Submit your idea using the online form.
Rico is a company that sells sports novelty items and gifts. Products range from vehicle accessories of your favorite sports team to tailgate party needs and décor for home and offices. Follow the Rico New Product Submission guide to ensure you are submitting an idea the right way. Each product idea that Rico chooses to pursue is paid based on the value it brings, which is specific to each idea.
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Under Armour is dedicated to developing active sports wear for athletes. Create a new user account to start the process of submitting your idea about the next innovation in active wear. Under Armour reviews submissions every 4-6 weeks.
Escalade is a sporting goods company specializing in table tennis and archery in addition to other outdoor games for all. Keep it on your list of companies that pay for ideas. Fill in your idea details through the Escalade online application.
Nautilus, Inc. designs and develops exercise equipment pieces such as treadmills and stationary bikes. The company accepts patented or published patent-pending idea submissions around helping customers stay motivated and energized to continue exercising. Visit the company to send in your idea.
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Henkel is a company known for chemicals and consumer goods, such as beauty care, laundry, and home care. It is also known for innovative adhesive technologies, such as sealants, functional coatings, and other sticky needs. Henkel accepts patented ideas online through the submission form. Ideas should fall in the laundry and home care, beauty care, or adhesive technologies categories.
3M is a major player in companies that pay for ideas. It is known for products that enhance consumer living through health care and consumer goods products such as medical equipment, adhesives, and home products.
The company accepts idea submissions on patented products that fall within its mission of using science to apply to life. Use the online submission form to send your idea for consideration. 3M is not obligated to review idea submissions, so you might not receive an answer.
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Jokari Home Solutions
Jokari Home Solutions is a company focused on creating fun in the home and saving consumers money at the same time. It is known for inventions like the Jokari Paddleball Game Set, the Fizz Keeper for soda bottles, personal care products, cleaning supplies, and a variety of other home related products.
It looks for the next big idea in home solutions. Fill out the confidential form online, email, or call to speak to a representative about submitting an idea to the company.
Unilever is part of the top companies that pay for ideas. It develops products that are helpful for lifestyle and home life such as products from Dove, Knorr, and Lipton. Use the submission portal to get paid for ideas that relate to Unilever technical WANTs and challenges or if you are a published patent applicant relating to technology that might interest Unilever.
This company is dedicated to agriculture and making products that help farmers make healthy food as well as use technology that is environmentally friendly. The company is known for partnering with brands such as Yoplait, Nature Valley, and even Tyson pet treats. If your idea is technology based, General Mills has a special website to submit an idea.
Tovolo is known for making products to help in the kitchen such as cleaning gadgets, food prep items, baking, beverage products, and more. Its mission is to enhance the time you spend in the kitchen while making things fun.
Call or email Tovolo to submit your idea request. You must be at least 18 years old to submit. Tovolo only accepts ideas that are patented.
Tailor Made Products
Tailor Made Products is known for its high-quality kitchenware and other household products. Use the contact form or make a call to a representative who can help you with your idea submission inquiry.
Easy Do Products
Merged with Dish Matic in 2019, this company offers household cleaning supplies specific to keeping the kitchen clean through innovation. If your idea fits with its mission of helping families easily clean their dishes, fill out the Let’s Talk form to inquire about opportunities to sell your idea.
OXO is a company dedicated to making life in the kitchen more enjoyable by developing products to easily cut fruit, make toddler meal times easier, and make safer containers with overall less mess. Choose the contact method that matches your needs and send an inquiry about your idea to Oxo.
Architec Brands is a kitchen company that strives to produce products that make cooking and preparing food easier. From bistro bowls to cutting boards, colanders, and more, you can find all the kitchen essentials with Architec. If your idea aligns with kitchenware, use the Get in Touch form to send your inquiry.
Eco-Products makes compostable, green disposable products, cutlery, and dinnerware. Products such as wooden stir straws, cups, containers, and plates are among the items that can be found. Submit an idea through the online application form if it has to do with innovating single-use products.
Play With a Purpose
Play with a Purpose is dedicated to creating products to help children play while learning about the world around them. From playgrounds to active play products to furniture, the company’s products help create a positive learning environment.
To get started with submitting your idea, use the online contact form. Play with a Purpose accepts ideas that are original and would benefit the professional community.
Creative Kids develops products that help children learn, grow, and experience creativity through fun, engaging activities. The products stem from an arts and crafts approach. Select the ‘Inventors’ tab to begin the online application and submit your general idea for a new product. The company will contact you if your idea falls within one of its categories.
Hasbro is dedicated to bringing children new and exciting games, toys, and technologies for all ages and abilities. The products include dolls, action figures, games, and other family favorites.
Before submitting your idea, Hasbro strongly recommends reading through the submission terms. If you still want to proceed, follow the three steps to completing the online form to have your idea considered.
Zing creates high-action toys that encourage children to stay active such as the Go Go Bird, the Hyper Strike, and KlikBot. Simply fill in the application form with an overall description of your idea for review. Ideas need to fit the current feel of the company, which is to create lasting impressions on children.
Fat Brain Toys
Fat Brain Toys is one of the companies that pays for ideas relating to toys and games. It develops toys for young children beginning in infancy. Use the submission page to understand the guidelines around submitting an idea.
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Worksafe Technologies offers products that help businesses protect their work environment from seismic events so that they can recover faster. Contact the headquarters to understand when idea submissions will be available and how you can apply.
BD is a healthcare safety and technology company that partners with health professionals and clinical laboratories to bring them products to enhance medical research. This company looks for ideas that will enhance the world of health. Take a look at the idea submission brochure to understand the guidelines and apply them appropriately.
Oak Patch Gifts
Oak Patch Gifts offers a variety of unique gifts with positive messaging. From coffee mugs to flip flops to baby onesies and more, Oak Patch has a gift for nearly every occasion. Use the contact form to reach out directly to the company and inquire about submitting an idea.
Joseph Enterprises is the home of the famous Chia Pet. Recent Star Wars, cartoons, and celebrity Chia Pets have become family favorites. If you have a Chia Pet or some other home improvement idea, submit your inquiry using one of the methods listed on the contact page.
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Crown is a leader in beverage, transit, and food packaging. Its goals include stopping food waste and keeping the items fresher longer through innovative packaging.
Crown has several areas of interest for ideas such as how to improve manufacturing, prolong shelf life, and invent more sustainable packaging. Submit your idea to the company using the online form. A response is typically received within 30 days.
Dorman Products, Inc.
Dorman Products, Inc. is all about fixing cars and trucks in innovative ways to give car owners and installers ease when making repairs. Products like door locks, air suspension, hybrid batteries, transmission lines, and more can be found on the Doorman Products catalog. If your new idea surrounds vehicles, then get started with the online application for consideration.
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Don’t Let Your Lucrative Idea Get Taken by Someone Else
All of our ideas seem unique because they come from our experiences and thought processes. It may even seem like the best idea in the world!
However, don’t sit on that idea for too long as someone else could come up with a similar one. There is nothing worse than thinking you have that million-dollar idea only to have it taken away by someone who acted quicker than you and is now making big money off it.
Take action today and choose from one of these companies that buy ideas to start getting your idea in front of others. With the right company and a few tweaks here and there, your idea could turn into cash.