Ideas flow into ThinkVillage from individual inventors as well as from institutions like universities. Categories of inventions are physical sciences, life sciences, computer sciences and consumer goods.
The process is straightforward, according to Thompson. "People submit ideas, and we match them to industry experts who will get a percentage of revenue if the ideas are sold," he says.
Average patent process costs range from $5,000 to $25,000, according to Thompson.
If someone tries to cut corners and not hire an attorney who knows the game, that inventor could spend a lot of money to get nowhere.
"If claims aren't written well, the value of an idea goes down," Thompson says. "Claims need to be written as broadly as possible but not too broadly or the patent office won't take them."