Frequently Asked Questions - Finance
How much does it cost?
Are there additional fees?
TBB does not itself charge any additional fees for assessment or general advice. Other Enterprise Services such as Prototype Development or Intellectual Property Services will be chargeable but only after agreement with the Client. There may be fees to third parties such as the Patent Office or such things as the Client's own expenses. This will depend entirely on the nature of the idea and the route-to-market. Payment of these is entirely the Client's decision subject to any commercial agreement.
Will TBB put money into my idea?
TBB does not provide funds itself although we pay all our own costs. If the idea is submitted to our Discovery Service and TBB thinks the idea is commercially worthwhile, and if the Client agrees, it will contact other companies or organisations that could develop the idea and take it to market or assist with raising funds.
Does TBB raise funds?
TBB does not raise funds for business finance or give financial advice. For ideas that have been qualified by the Discovery Service TBB may approach other companies on behalf of the Client to get ideas developed and funded.
How do I get paid?
Depending on the success of the idea and the commercial agreements in place the Client may get either a one-off payment for the idea, a share of the product revenues, or a combination of the two. If a company is created to develop the idea then the Client would get a share of the equity and the profits.
Are fees returnable?
The initial Discovery Service assessment fee is not returnable. We encourage Clients to check out the free services from the Patent Office and our Enterprise Service to avoid disappointment. Only if TBB at its sole discretion believes that it cannot provide an adequate service for any reason then TBB will return all fees.
Will I get the results of any Patent Search or Commercial Review?
We will provide the results of any patent or other searches if they are relevant to your idea. At our discretion we will supply any other information relevant to our decision. We may be prevented from doing this by confidentiality agreements with other people such as manufacturers and other Clients if there is a conflict of interest.
Who checks how much I should be paid?
As part of its service, TBB or its associates will advise on any commercial agreements to ensure that proper records are kept and appropriate payments are made.
Will TBB provide financial or investment advice?
TBB does not offer any form of financial advice. You are encouraged to contact a professional Independent Financial Adviser if you need this kind of help.