TinkerTini has introduced a new business model, and as a result, we get a lot of questions. Hopefully, some of the below is helpful. We're always happy to chat should you need more information about us or our services. We look forward to your questions and adding them to this page.
How does TinkerTini prioritize concepts having multiple clients ?
This is the first question potential clients ask. And it's from a place of not understanding how engagement works, the nature of the inventor/IR roles and the submission process. Inventors decide where their concepts route and when. Inventors do not submit to TinkerTini and then TinkerTini selects what routes where. We are never in the position to prioritize concepts cross-client, because our workflow was setup with this in mind (but more for liability reasons). Inventors submit to our clients through TinkerTini not to TinkerTini. There is a difference. If an inventor wants to submit to 4 of our clients, they submit 4 separate times to 4 separate databases. We do not co-mingle records or submissions in any capacity. The inventor drives the submission process. As they should, it's their IP not ours. Or more accurately, the inventor gives the directions and TinkerTini does the driving.
TinkerTini’s role is to ensure that our client strategy is current & communicated, we get the best and most relevant concepts from our network focused to client needs, concepts are evaluated in a timely manner, and the outreach is productively managed across many functions and milestones.
The bigger, more important question around priority is how are you managing your outreach and relationship with the inventing community to give yourself priority with the inventors?
Are you an agent or broker?
No, TinkerTini does not take a percentage of the concepts we place. We are hired by manufacturers to create and manage their inventor outreach program. Think of us as a traditional “Inventor Relations” department, except that we support multiple clients. We represent the manufacturer and work with inventors.
Will you work on a project basis?
No, we’re not in the business of rounding up concepts and leaving them on doorsteps. Our services are a good match for any company that has serious, long-term interest to develop and maintain a relationship with the inventing community. We’re an integrated, working part of our client's development team and manage the full lifecycle of a concept from finding it, sharing it, managing it, and finally, securing it. Because of this, we work on annual retainers and ask for a commitment to a full development lifecycle.
Is this a new business model?
It is, and its working. 29 (and counting) items placed in less than a year. Beautiful things happen when companies invest in tapping into a proven resource pool the right way: with experienced guidance.
How much does it cost for you to manage an outreach?
Roughly the cost of an administrative assistant. We break our annual retainer fee into monthly payments.
How much does it cost to work with inventors?
Industry standard inventor royalty rates are 3% of net sales on items with a 3rd party license and 5% on non-licensed items.
Do you also handle all the agreements?
Yes and no. TinkerTini will facilitate and make recommendations including boilerplate agreements created with our own counsel for clients, but we cannot contract on behalf of our clients. This means, we can make suggestions, but it is ultimately a client's responsibility to review and approve their agreements with their own counsel. If a client does not have counsel, we put them in touch with external, experienced IR counsel that can represent them directly.
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