Intellectual Property Scam

Intellectual property scams are unauthorized retrieval of copyrighted, trademarked, or patented property. It’s also a way to extort money by using registration and promotional services as a ruse.

Intellectual Property Scam

What Is an Intellectual Property Scam?

Intellectual property scams refer to fraudulent schemes involving inventors and property rights holders. These individuals and sometimes businesses are persuaded to pay a designated for registering their ideas. Advanced fees include payment for additional development and promotional services. After which, the scammers withdraw from the deal, taking all the money with them.

Other types of intellectual property scams involve the theft of copyrighted information. Retrieval occurs through illegal means, often involving cybercrimes (i.e., hacking, phishing and malware attacks). These crimes might also be committed through misrepresentation and deceit.

Purpose & Intent

Scammers tend to target startups and amateur inventors who do not have sufficient means to secure their intellectual property. Nor have adequate information to disapprove the scammer’s claim to facilitate the developmental operations and advertising campaigns for a specific intellectual property. You can steer clear of these fraudulent acts by identifying the tell-tale signs of intellectual property scams.

They are as follows:

  • An unrealistic account of potential profits gained from your invention/idea
  • Representatives do not share any contact details
  • Lack of credible permits and licenses
  • Requests for advanced fees for promotional or development services
  • There are no written correspondences or legal paperwork signed the transaction

Besides this, these agencies might offer money-back guarantees as assurance. Not only is this a lie, but most reputable firms don’t provide this offer because their services are legitimate.

File a complaint at FraudTrac to raise your voice against these malicious scams.

Contact us today to learn more.