Frequently Asked Questions (FAQ)
General Questions
(A) Yes, you must accept ITC's Terms and Conditions and Privacy Policy before using the website or communicating with ITC via email or phone. Your use of the website signifies your acceptance of these Terms and Conditions and the Privacy Policy.
(A) The Ideas Trading Center (ITC) is an independent facilitator, and is neither a party to nor involved in any business transaction between the originator/seller of ideas and reviewer(s) or buyer(s) of ideas. ITC does not promote any idea but merely makes it available to prospective reviewers and/or buyers. ITC does not evaluate, judge, assign value to, or develop a prototype for any idea, nor does it assess the feasibility of any idea. Prospective reviewers and/or buyers are fully responsible for independently evaluating ideas. There is no guarantee that a seller's idea will be reviewed or purchased by a prospective reviewer or buyer. ITC will not participate in any legal disputes that may arise between idea reviewers/buyers and idea sellers.
(A) The ITC platform for selling and buying ideas is simple, efficient, versatile, low-cost, and fast, delivering benefits to both idea sellers and reviewers/buyers.
(A) All transactions are processed through secure payment gateways and encrypted to ensure data safety.
(A) In addition to various reality checks and confirmations in the idea registration form, submitted ideas are examined by ITC prior to acceptance to ensure compliance with the written requirements for completing the idea registration form.
(A) Send an email to Eric Finkelstein, Vice President of Business Support (EFinkelstein@IdeasTradingCenter.com), detailing how you can contribute to ITC’s success and what you expect from your role and contribution. Please attach your resume and necessary supporting documents with your email.
(A) You must be an accredited investor and meet other criteria established by the Company in its sole discretion. Please fill out and submit the form by clicking the "Like to Invest in ITC?" tab on the homepage.
(A) Please contact us at info@IdeasTradingCenter.com or call (908) 481-9899.
Frequent Questions by Idea Sellers
(A) A non-refundable examination fee of $20 (USD) will be charged to your PayPal account, regardless of whether your idea is accepted for registration.
(A) The various credit cards listed on the website are for subscribers to “ITC Idea
Alert” and idea buyers. Idea sellers can only use PayPal for payment of examination fee, as it is the only money transfer method available for the review or sale of their ideas. Idea sellers should open a free PayPal account (www.paypal.com) before submitting the idea registration form, using the same email address provided in the idea registration form. All payments and financial transactions are final, with no cancellations, returns, or refunds.
(A) Yes.
(A) Yes, the platform can connect you with idea buyers (potential investors or partners) who are interested in your business idea, facilitating networking and collaboration opportunities.
(A) No, as ideas will be sold on the basis of “first come, first served.”
(A) If you’re unsure about which class of goods and services your idea falls into, the platform provides resources or guides to help you categorize your idea accurately. Consult: https://ideastradingcenter.com/collections/classes-of-goods-products
(A) The approval process for an idea on the ITC website can vary, but it generally takes one day to a few days. The exact timeframe may depend on the volume of submissions and how good idea registration form is completed.
(A) The shelf life of an idea on the ITC website is six (6) months. If during that time, idea is not sold, the idea will automatically be removed from the ITC website.
(A) You should make your best effort, as you are responsible for the quality of the idea you submit, and you will need to confirm several questions at the end of the idea registration form.
(A) No, once an idea is submitted, it cannot be altered.
(A) Yes, as long as your entire idea has not been sold.
(A) Reviewing Summary Descriptions is conditional and contingent upon the buyer declaring that they have “read, understood, and agreed to the terms of the above agreement” before proceeding to checkout. The restrictive terms of the agreement for reviewing ideas are clearly stated and can be found in the next section, Frequent Questions by Idea Reviewers/Buyers.
(A) Your information is solely used for review and/or sale to buyers. ITC places a very high value on information protection. For more detailed information, please take a look at our Privacy Policy
(A) Only idea sellers can request removal of their idea. You need to send an email to ideaexaminer@IdeasTradingCenter.com from your registered email address, providing full information about your idea. Upon verification of your request, your idea will be removed.
(A) ITC values privacy; please review our Terms and Conditions and Privacy Policy for more information.
(A) Yes.
(A) No. You need to identify yourself by properly and completely fill out the idea registration form.
(A) The success rate varies depending on the idea itself, the quality of the completed idea registration form, how well it meets market demand, and the fairness of its selling price.
Frequent Questions by Idea Reviewers/Buyers
(A) Before proceeding to checkout for reviewing Summary Description (SD) of an idea, you need to accept that you have read, understood, and agreed to the terms of the SD reviewing “Agreement”:
- You review the Summary Description “as is”.
- You understand that your payment is final; there are no returns or refunds.
- You are not and will not be the owner of the summary description of the idea you reviewed. No rights, title, or interest in the reviewed summary description will be transferred to you.
- You will not, directly or indirectly, disclose the reviewed summary description or idea to any third party, copy it, permit copies to be made, reduce it to practice in any form or shape, or make any commercial or public use of the idea.
- You will not file any patent application based on this idea in any country; if such an application is filed, it will be legally invalid, null, and void.
(A) Before buying an entire idea, you need to agree in writing that:
- You buy the entire idea "as is".
- You understand that your payment is final; there are no returns or refunds.
- The seller of the idea has contractually declared in the idea registration form and agreed to grant and assign any and all intellectual and legal rights to the idea to the buyer. The seller will no longer have any legal or intellectual rights to the idea and will not disclose or transfer the idea to a third party, reduce it to practice, or make any commercial or public use of it. Furthermore, the idea seller has agreed to comply in a timely manner with any request from the buyer to execute any assignment, recordation of assignment, declaration, or any other document necessary to facilitate the transfer of ownership, and to cooperate with any request from the buyer to facilitate the patenting or copyright process.
- Upon full payment of the purchase price, all rights, title, and interest in the idea are transferred to the buyer.
- Buyer understands that ITC has not performed any due diligence regarding the ownership of the idea, and it is buyer’s sole responsibility to conduct due diligence into the idea's ownership.
- Buyers understands that for patent protection of the idea, he/she must file a patent application in the U.S. within 12 months from the date the idea appeared on the ITC website for review.
(A) No, prices are set by the idea sellers and are fixed. All payments and financial transactions are final, with no cancellations, returns, or refunds.
(A) No.
(A) All payments are final; there are no cancellations, returns or refunds.
(A) You will receive an “ITC Idea Alert” as soon as a new idea in class(es) you have subscribed to is posted on the ITC website.
(A) No.
(A) No.
(A) No. Summary Descriptions are provided "as is".
(A) No, you may contact the idea seller to resolve the issue. However, ITC will not get involved in any form or shape in the legal disputes between idea reviewers/buyers and idea sellers.
(A) You may contact the idea seller to resolve the issue. However, ITC will not get involved in any form or shape in the legal disputes between idea reviewers/buyers and idea sellers.
(A) Ideas on the ITC website can only be sold once. As soon as an idea is sold, it is automatically removed from the ITC website.
(A) Yes, turning ideas into profit works for both physical products and digital solutions, including app concepts, software services, and more. The platform caters to various industries, so you can check out the list of goods and services available. Consult https://ideastradingcenter.com/collections/classes-of-goods-products
(A) Sellers provide basic background information about themselves in the idea registration form. After purchasing the idea, you may wish to contact the seller.