A: It’s a trust set up for the benefit of the Invention Investment Families
Q: How does AOS get money for inventors?
A: We raise money from investors who, in the case of AOS-sponsored IIFs, are ordinary folks like you and me.
Q: How much money can I get?
A: Depending on the quality and market potential of an invention, up to $75,000
Q: Do I have to pay the money back?
A: Depending on the option you choose, you may or may not be required to pay the amount back.
However, in every case, including those where a “bridge loan” is chosen, you will be required, as a condition to receiving the loan and as security for the loan, to temporarily assign a portion of the ownership of the invention and its related intellectual property to AOS.
On average, if you draw down the full $75,000, such transfer would result in anywhere from 20% to 30% ownership by AOS.
Q: Is there cost to apply to receive money?
A: Yes, there’s a $25.00 non-refundable application fee.
Q: How do I apply if I want money?
A: You go through the AOS Vetting Process. Check the “Inventor” page on the AOS website for more details.
Q: What do I have to provide to apply for the Vetting Process?
A:
$25.00 application fee
A completed Vetting Application Form (see the “Inventor” page on the AOS website for an explanation)
A comprehensive professional patent and product search
An evaluation by a USPTO-registered patent attorney of the patent search results for (i) non-infringement, and (ii) patentability.
See the AOS website for more details
Q: What qualifies as a “comprehensive” professional patent and product search?
A:
A search of the USPTO patent database by “classification”
An international search
A product search (i.e., all products, regardless of whether or not covered by a patent anywhere in the world)
Q: Will any service provider do?
A: No, only qualified service providers
Q: How do I know if a service provider is qualified?
A: Check with the AOS Vetting Team for a list of AOS-approved service providers
Q: If I go through the AOS Vetting Process and I’m approved, what do I have to give AOS to get money?
A: Depending on the strength of your idea and the amount of money required to get it developed and commercialized, on average 20% of the ownership of the invention and its related intellectual property.
Q: If I go through the AOS Vetting Process, how long will it take before I know whether or not I’m approved for investment.
A: While each invention is different, normally 4 to 6 weeks.
Q; I already have a patent filed. Can I still apply?
A: Yes. You can apply for funds to cover the additional stages of developing and commercializing your idea.
Q: If I already have a patent, what do I submit with the Vetting Application Form in lieu of the patent search and attorney opinion?
A: The patentability opinion by a USPTO-registered patent attorney and a copy of the patent.
Q: I used one of those “invention promotion companies” like InventHelp, InventionHome, etc. Can I still apply?
A: Sorry, but we don’t take applications from inventors who have obtained any of the required submission documents (i.e., patent searches, patentability opinions, provisional, design and utility patents, or design work, etc.) from any of those types of companies.