The premise is simple: you have a great idea. You share all the intimate little secrets about said idea with the Quirky community and they help give business advice, creative input and immediate and vocal feedback with which to perfect your idea. Oh, and the community gets a percentage of “influence” based on how much they helped, which entitles them to a small share of profits, should your doohickey ever get built.
Sounds great, right? Here’s the catch. Despite a 90-second video “thoroughly” explaining a mere 400 years of intellectual property law, it seems that ideators must hand over all IP rights for the idea or product to the Quirky team in exchange for an undisclosed piece of the profit pie. Hmm.
For all you ADD thinkers out there, this might be a great way to turn a daydream on the subway to a bit of loot, but I’m not sure this is the avenue for serious inventors. Nevertheless, it’s a fun way to play with some interesting ideas and take a chance at making a couple bucks.
Quirky, yes. Legitimate? Who knows.