How do you choose which ideas to send to potential buyers?

An idea needs to have a fair chance of becoming real if it is taken on by a company with money, resources and access to a market. Some ideas stand out for their originality or ingenuity, others for the originator’s vision; seeing something simple and obvious that others had missed.

What do you do with my idea?

A stand-out idea is sent to up to three potential buyers, inviting them to pay us £1,000 for it. If it is bought, you receive £500, and the rest goes towards the assessor and MyCleverIdea’s running costs.An idea that is assessed to be good, but not stand-out, is put into the 'Ideas Box' section of the website that potential buyers can browse for something that might interest them. If your idea is picked up here, you receive £100 for it.

How do I know my idea isn’t going to be stolen?

Your idea might indeed be stolen if one of the companies we send it to turns out to be unscrupulous, but we reason that no company of any stature would be prepared to take that risk, as we can provide an audit trail should it be found out. The two most likely results are rejection (we hope not) or acceptance, leading to a payment.

How do you choose the companies you send my ideas to?

For some ideas, take DIY, for example, the three UK candidates are pretty obvious - the brands you see on the sides of the big sheds in out-of-town shopping centres. For others, we will rely on the knowledge and experience of the assessors. For something niche or specialist, they will know the companies, even the individuals, to approach based on what they know, and who they know, in a particular market.

How soon do I find out if I have submitted a Good or Great idea?

It's hard to say, but unsuccessful ideas will be rejected pretty quickly. If you don't hear from us soon after submitting an idea, assume an assessor is either still working on identifying a potential buyer or waiting to hear back from one. If it's the latter, unfortunately, as you may already be aware, the wheels of (big) business can turn quite slowly.

How am I covered legally?

For starters, take a look at our LEGALS / Ts & Cs page. Also, we have experienced corporate lawyers on our team who have many years of experience of writing and reviewing contracts of this nature. If there is any legal risk, we take it on on your behalf.

Do you put me in touch directly with the company that buys my idea?

That is unlikely, unless there are special circumstances that demand it. In most cases, the transfer of ownership of your idea is with the receipt of by you of our payment and a certificate from us you can wave in front of others who doubt you when you say, See that? I invented that!

How many ideas can I submit?

You can submit as many ideas as you like, the more the merrier. However, we recommend that you exercise some quality control and only submit your very best ideas, or at least those you think have a good chance of being taken up, to reduce the number of disheartening rejection emails you receive.

Why don’t I receive more than £500 for a Great idea and £100 for a Good idea?

We believe that the bragging rights of making the idea a reality are more valuable to an individual than the financial gain. Taking the germ of an idea from your head to the high street is an expensive, time-consuming and resource-intensive exercise. It would be fair to say that in many cases it involved 1% Inspiration and 99% Perspiration. We think the payment is fair and proportional as we are not asking you to confirm its true originality or search its legality or viability etc.. If you want to make more money than from MyCleverIdea, please look at our ['Better than us'] page or become a prolific originator and submitter of great ideas.

How soon might I get paid?

Don't be impatient. It takes MyCleverIdea up to two weeks to review and process. Ideas then submitted to companies can take anything up tp two months to gain acceptance. Unfortunately not all ideas are ultimately accepted