InventHelp®, America's Leading Inventor Service Company Launches New Resource for Open Innovation

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InventHelp hopes to use our vast knowledge and expertise to inform and educate business professionals on the importance of Open Innovation in new product development

For just minutes a month and at no cost, companies can tap into a new source of ideas, creativity and innovation.

InventHelp®, America's leading inventor service company, today announced it has launched the InventHelp® Open Innovation Resource. The Website gives corporations access to business resources (white papers, testimonials, and interviews) and to register to receive new product announcements.

"Partnering with InventHelp® is an efficient way for companies looking to capitalize on the open innovation paradigm," said Joseph Lininger, director of Information Technology at InventHelp®. "As one of the largest inventor service companies, we have over 5,000 ideas already in our data base and are adding hundreds of new inventions and innovations each month."    
It was University of California, Berkeley, Professor Dr. Henry Chesbrough who first coined, "open innovation" in 2003 with his book of the same name. The paradigm behind open innovation is that companies were severely limiting themselves by relying entirely on their own R&D, but should instead seek out and buy or license processes or innovations from other sources such as companies or individuals.

The main benefit of open innovation is companies now have access to the large resource of information that resides with its consumers or inventors. It is similar to the open source idea in which organizations can build upon contributions or collaborate with other users without the assistance of a manufacturer. Other benefits include the ability to develop new products on someone else's budget and at a faster rate, built-in market research, and ability to obtain more diverse and cutting edge ideas. These benefits are available at drastically reduced costs.

Companies such as IBM, General Mills, Nestlé, Procter & Gamble, Hasbro, and Microsoft have embraced Open Innovation. Companies, from mid-size to large multi-national, are beginning to leverage credible inventor service companies to access this wealth of ideas.

"InventHelp® is ideally suited to provide this service," says Lininger. "InventHelp® advertises internationally. We offer assistance for invention submissions and refer clients to attorneys for patent services. We also provide graphic submission materials including prototype models; if substantial interest is expressed, we assist in licensing agreements as well. Our databank of products range in levels of development from innovative ideas, to products with inventory that can be accessed through a targeted search for our members."

An example of a company using InventHelp's resources is Rockland Manufacturing, an Indiana, PA based company that designs and manufactures construction equipment for dozers, loaders, excavators and motor graders. The company learned about the Tree Jack, a skid loader attachment, invented by an InventHelp® client that pulls trees up by their roots. Rockland was able to sign a licensing agreement and add the Tree Jack to its product line relatively quickly.

"It took us less than six months to have a prototype in the hands of the user, and it was on the market two weeks later," said Samual Pratt, CEO of Rockland Manufacturing. "Usually the products that we've licensed from InventHelp® have already gone through the prototype stage which gives us greater confidence in bringing them to market sooner. When we develop a product by ourselves, the prototype stage usually takes much longer; and consequently, it may be a year or more before we actually get a new product to market."

There is no cost to register for InventHelp's Open Innovation Resource. In addition to unlimited access of the business resources, qualified manufacturers can register in the InventHelp® databank, as well. This free service provides companies with inventions and innovations matched to their specific criteria by a member on an ongoing basis.

Members will also be able to receive a customized search of InventHelp's entire database of inventions and innovations.

To register, or for more information about InventHelp® Open Innovation Resource, please visit http://www.openinnovationresource.com

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NICOLE M. HAIT
InventHelp
412-288-2136 +4159
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Joseph R. Lininger
InventHelp
412-288-1300 +1307
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