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Walmart Holds Invention Contest

Posted by samzenpus on from the dropping-the-price-on-inspiration dept.

An anonymous reader writes "Walmart is holding the inventor's equivalent to 'American Idol' calling for product submissions that will be offered for sale in Walmart stores. Feel that the back scratcher you received a patent for hasn't garnered the attention it deserves? This could be your big chance at fame and fortune."

2 of 91 comments (clear)

  1. Fine Print... by saccade.com · · Score: 5, Insightful

    Be very careful to read the fine print on contests like this. I looked into one a few years ago (run by Hammacher Schlemmer, I think), and by entering you essentially wound up giving them your IP at pretty unfavorable terms. If you have a good idea, something like KickStarter is a much better bet.

    1. Re:Fine Print... by Anonymous Coward · · Score: 5, Insightful

      Wal-Mart is a historically very dangerous partner, especially for small companies. Their high volume and low pricing come at the cost of any slack for their partners, who wind up on a treadmill of lowering per unit costs, and wind up "making up in volume what they lose on every sale". I've seen several smaller companies with products sold there start out very excited, but go very bankrupt within 5 years because they can't keep the prices down low enough to match Wal-Mart's demands without firing the staff who came up with the product.

      It's a very dangerous tiger to grab the tail of for a small business, especially a small patent holder. If the patent will help pad your resume, I could see it, but don't rely on Wal-Mart to help you make money with it.