Everything in our world had an origin. It either evolved or was created in a flash of brilliance and creativity. The human mind is limitless in its capacity to refine and improve existing things we use on a daily basis. But, sometimes, the imagination and ingenuity of certain individuals transcend today’s reality and introduce game-changing products that have the power to create new levels of quality, enjoyment and productivity for all mankind.
Among those landmark inventions are the radio, automobile, telephone, airplane, television, computer, and the Internet. It is beyond comprehension to imagine our daily lives without these items at our disposal.
We at Practical Applications, LLC (PA) believe there have never been boundaries on progress. Whether it relates to transportation, business, technology, medicine, manufacturing, nutrition or a myriad other categories, new inventions will continue to elevate the prevailing standards of excellence, efficiency, and affordability for the masses.
PA was specifically created to assess, develop, manufacture, and make available to the general public invention ideas spawned by its own Partners and in partnership with creative individuals around the world.
Most people never view themselves as inventors. But, through the course of everyday life, we all experience chronic, nagging problems in a multitude of areas. We all are irritated by these problems. We all talk about and express our frustration with these problems. But, there are those individuals who don’t stopping thinking about these problems until they come up with a solution.
PA’s Partners feel many great ideas never become reality for many reasons. The inventor fears their solution is too “conceptual”, “rough”, or “primitive”. Or, they simply don’t know where to go or who to trust with their revolutionary ideas. And, many of these gifted, inspired people don’t have the financial resources necessary to fund the complicated patenting process to protect their invention idea.
But, there are other substantial, hidden issues that many people don’t understand about the invention industry.
- Only 1 of 10 patented inventions ever make money
- Many so-called “invention companies” only exist to steal ideas, collect ridiculous fees from inventors to “develop” their ideas, and/or grab almost all profits generated by the ideas of others.
- Most inventors have no way to ever have their ideas objectively evaluated and reviewed for viability, feasibility, mass consumer appeal, or profitability.
PA is founded on the principles of honesty, integrity, excellence, professionalism, and transparency.
Without these critical traits, PA would be typical. But, by incorporating these principles into our company’s culture and business practices, PA is the safe, common-sense choice for individuals with a bona fide invention idea.
Combined with those highly desirable business qualities, PA provides these outstanding features, benefits, and policies for its inventors:
PA NEVER REQUIRES ANY FEES, SUBSIDIES, INVESTMENTS, OR MONEY OF ANY TYPE FROM THE INVENTOR…….EVER. We are the industry standard with our exceptional profit-sharing ratio for inventors.
We sign a legally binding, mutual Non-Disclosure Agreement (NDA) for your legal protection BEFORE the process is started. (You can review and print our NDA directly from this website.)
We enter into a legally binding Inventor Agreement with the owner of the invention idea. This Agreement contractually guarantees all rights and benefits for the inventor. (You can review and print our Inventor Agreement directly from this website.)
Only then do PA and the Inventor engage in a dialogue about their invention idea.
PA internally reviews each invention idea to determine viability, feasibility, consumer appeal, unit cost, and financial potential.
We only accept truly viable and promising invention ideas. PA does not mislead the inventor. If the inventor’s idea does not meet our standards, PA will return the inventor’s information and legally relinquish any and all further rights.
The inventor’s idea does not have to be extremely detailed or designed. If the invention idea is accepted by PA, our team will refine and enhance the original concept at no cost.
PA pays ALL costs associated with preparing and filing appropriate patents with the USPTO.
PA pays ALL costs associated with prototypes, materials, manufacturing, warehousing, logistics, fulfillment, sales, marketing, etc. of each invention product.
PA creates a custom marketing plan to maximize the financial success of each invention. Both PA Partners and external corporate partners (e.g., vendors, media buyers, production houses, DRTV experts, call centers, manufacturers, etc.) collaborate to select specific marketing strategies for specific products. These can include outright sale, negotiated royalties, retained residuals, partnerships, “big box” store distribution, direct response television infomercials inserted on demographically targeted cable channels in appropriate DMA’s, NFL-NBA-MLB sports team licensing, major university sports team licensing, website merchant accounts, opt in database marketing, banner ads, etc.
All invention profits are distributed to the inventor and PA per the same financial statements and formulas prepared by a certified, independent CPA. The distribution of inventions profits to its inventor continues throughout the entire financial life cycle of each invention accepted by PA.
PA’s relationship with its inventors is cherished. We understand that our long term success is forever connected to the way we treat our universe of inventors. We can only win together.