14 Companies That Pay for Ideas And Inventions
Updated: Jun 14
Are you bursting with new ideas but have no way of implementing them in practice? Don't worry! Some companies are on the lookout for innovations and have a team (as well as funds!) that backs them up.
One of the most underappreciated money-making ways is through companies that buy ideas. Whether it's an app idea or an improvement for a cleaning mop, you're bound to find your niche!
Companies often seek innovative new ideas with market potential. Those who meet these criteria may sell the product to them. Some companies can offer:
buy the idea for a single amount for the idea's value.
How Can I Get Paid for My Ideas?
It may seem impossible for you to get monetary rewards for an incredible idea. Don't worry - it's easy to find companies that pay for ideas!
Whether it's a new invention or an upgrade, submit your idea to these businesses and watch the money pour in!
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What Are the Companies that Buy Ideas?
You've most likely heard about 3M and their wide variety of products. They focus on office supplies and electronic gadgets. Of course, 3M sells products in other areas - medical, lab supplies, home improvement tools, etc.
Having so many products in their catalog can become overwhelming for product designers. That's why 3M is always looking for new ideas from outside sources.
2. Dorman Products, Inc.
Dorman sells homeware, hardware, and automotive products. If that seems right up your alley, you can submit ideas to them. It can be a brand new product design or an improvement to Dorman's existing line of products.
The company is always looking for new product ideas. It's easy for you to make money by generating a breakthrough invention idea.
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Have you ever seen the "W" logo on a tennis ball? Yup, that's Wilson! If you have sports-related product ideas, Wilson is your best choice for getting paid.
They have a dedicated "Wilson Idea Portal." You can submit your ideas and pitch new product designs about pro-performance sports.
It's one of the best companies that pay for your ideas as the submission process is easy and quick! A representative will reach out to you, and you can get paid for your ideas.
Did you play the infamous mobile app, Candy Crush? Then you're familiar with the developer behind it - King.
Do you have app ideas? Then try submitting it to King and see your creation come to life! The new app might be a hit among many age groups - you never know.
Selling your idea can be pretty easy as the demand is enormous. It's especially true in the gaming industry! Before signing anything, read the fine print and watch those royalties come in.
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5. Worksafe Technologies
The company thrives on open innovation and prefers elegance and simple solutions. If you're an engineering genius, it's right up your alley!
It often carries out everyday projects with developers and inventors. It's easier to find underlying problems and solve them.
Crown manufactures metal beverage containers. The company markets its products across 47 countries worldwide.
It's one of the best companies that pay for ideas as they have some practical products that we see every day.
Their innovation site is open and keen on improved shelf-life and manufacturing. You can submit ideas via the site and expect a response within 30 days.
This company is client-focused. It specializes in innovative product designs to solve practical problems. Their range of products includes kids' toys, stationery, and many more.
Kikkerland designers combine form, function, and delight for the whole family. The company provides a direct Submission Portal on their site for idea submission. It pays royalty payments of around 5% for selected designs.
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8. Easy Do Products
Easy Do Products is a UK manufacturer of cleaning equipment and homeware supplies. The company is capable of taking your business from concept to production.
It's easy to develop a better design for products that we see every day. If you have an invention idea to take household cleaning to the next level, reach out to Easy Do Products!
9. Jokari Home Solutions
The company specializes in home appliances, kitchenware, and storage units. They have a long history of licensing inventions - they've been doing it for almost 50 years!
Jokari makes many different products. As the business offers such an extensive selection of products, it's not surprising that Jokari seeks ideas. You can contact them by phone or email, and they will tell you what you should expect.
The company also has a dedicated R&D department to which you can pitch your idea and make money. It's where star innovations are born!
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10. Mustang Survival
The company provides a niche industry product - water rescue items and military gear. Of course, few people might have an innovative idea to improve diving gear.
Do you have an idea to improve the color scheme for a scuba vest? It's a great idea to submit your idea! The company is open for idea submissions, so check them out.
11. Play for a Purpose
Play for a Purpose provides children's play toys for outdoor play and classroom use. The company's educational products help students learn fine motor skills such as balancing, jumping, throwing, and catching skills.
It may be interesting for them to collaborate with you on a working concept or draw up a new idea. You can reach Product Development to understand their product development processes.
Almost every household we live in has at least one brand item from the Unilever line since they operate several well-known brands. Currently, they manufacture most of their products in food hygiene and household cleaning categories.
If you know a design or technology which helps Unilever expand its product range and solve its challenges, you can help the company by visiting Open Innovations.
13. Under Armour
The Under Armour clothes are well-loved. The firm needs ideas, and it also has a very detailed guide that lists the things they need to know.
Interested parties must register with them and share it with a company. Each request has to have its submission scanned within four to six weeks. In fact, Under Armour lists various ideas that interest them!
BD manufactures medical devices. There is a lot of new technology, but you can always submit your idea. You might need to send a proposal by mail because it doesn't allow emailed submission at this moment.
Upon request, the company will call you. Keep in mind that BD might decline your idea if they're not interested in your idea. It takes roughly four or six weeks for them to reach out!
How Much Can You Earn for Your Idea?
You can get a large cash payment when you sell your invention ideas. Another possibility is entering licensing agreements through which you'll get royalties.
Of course, you get paid for ideas depending on how innovative and groundbreaking your idea is. You'll get immense satisfaction when you see the development of new products!
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