Loading…

avatar for Product Shout

Product Shout

Every day, people have ideas that could change the world. However, very few people want to live the risky life of an entrepreneur. That’s where we come in. ProductShout is a company that takes the simple napkin sketches and turns them into tangible products.

We take the burden off the user and give them a way to impact the world. ProductShout is in the “idea market,” which is a young and emerging market thanks to crowdfunding. However, we are on the other end of the spectrum. While entrepreneurs make up less than 1% of the population, they are served by $5 billion dollars worth of companies. On the other hand, the other 99% of people are served by less than $500 million dollars worth of companies. Our target market is the “average Joe” who doesn’t want to risk the money, time, or career to build a company.

 

When users posts their ideas on our website, we wait to see how many votes they get. If we see that an idea is popular, we do market research to make sure that it is a viable product. After that, we take it to the company that the users wrote as the “suggested company” when they created the idea. We proceed to write up a contract to transfer the ownership of the intellectual property (IP).

 

In return for the idea, companies could pay in multiple ways, the most logical being a royalty. We envision a 70-30 split of the money, we take 70% and the user takes 30%. We have to pay for the lawyers, research, and such, and all the user has to do is pay taxes. The user also gets plenty of the product to give to friends and family. Along the way, we protect the user’s IP using nondisclosure agreements. These contracts are quicker than patents and provide maximum protection while guaranteeing an expedited process.

 

ProductShout is here to build users’ ideas (who otherwise wouldn’t do anything with them) by selling them to companies in order to create life-changing products. As everyone here believes, we do what we do “because an idea can change everything.”