Contrary to popular belief, the Internet--once again--has enabled inventors and investors to combine their efforts in business. Now, within the realm of cyberspace, the believers--of a particular idea, concept, or most any composition of matter--accommodate their dreams. However, there have been many talks that pertain to patent infringements; and some of those trials have yet to be held. Regardless, crowdfunding is the ‘new hope’ that is being portrayed as a gate-keeper to new ventures in today’s business market.
According to sources, arguments usually relate to project completion rates, protecting an idea from being copied, and the transfer of crowdfunding monies. Frankly, those kinds of business attributes are directly related to achieving successful journeys towards the goal of establishing a good product and/or service.
Project Completion Rates
Fortunately, there are many firms out there that actually have utilized the crowdfunding method. The following are a couple of projects—set out on Kickstarter—that made the mark: The Pebble: E-Paper Watch for iPhone and Android [Design] project—submitted by Pebble Technology--closed in May of 2012. This particular project ranked at number one, because of its numbers in funding percentage; and the total crowdfunding that was collected ($10,266,845).
Running in second was the Ouya, Inc. New Kind of Video Game Console that accumulated 63,416 backers, summing up $8,596,474 in investment funding through the crowdfunding platform. In addition to those featured project companies, other crowdfunding project managers have been able to see the light in the tunnel.
Protect Your Ideas
Surprisingly, inventors are covered by certain rights and protections that have been established over the centuries of technological growth. Ideally, these protections are created in order to protect ideas, processes (concepts), and tangible products that have been created by the inventor. In relation, the protection isn’t too far off.
The common protection practice involves sending the product information, along with a minimal fee, to specific governing organizations (e.g. U.S. Patent and Trademark Office). Thereafter, the governing organization examines the request(s) and ensures that the product piece isn’t copying another before its time. Then, if and when the application is approved, the patent becomes effective—protecting the device for seventeen years. Most commonly, the patent is designed to cover an article of manufacture, a composition of matter, a specific machine, or a process.
Crowdfunding Transfer Payments
So far, crowdfunding has become a fair utility to use. All sorts of interest-groups use the crowdfunding method to collect the funds that they need. The most common methods of payments include three basic models:
All or Nothing (AoN). This is a model for pledge money. Practically, if the project isn’t successfully completed, no funds will be collected.
Another form of payment--Keep it All (KiA): This model is geared towards the entrepreneur; no matter if the project is completed, the funds are issued to the project managers (entrepreneurs). However, business ethics can come into play and set out for recipient to refund them to the contributors.
The last payment feature is the bounty. According to sources, this method entails the collected funds being given to the contractor that completed the project.
Project concerns have been raised. Apparently the copying of graphics, from other sources; unrealistic performance proposals and price claims; and the failure to deliver have met the limelight. Popular instances include the Eye3 camera incident: Project creators promised to complete this project; however, the completion proposals were unfathomable to the investor. And to top it off, some of the photos were determined to have been copied from other commercial products. Another hurtful crowd-funding mishap includes the Mystic: The Story of Gods and Men adventure game--said to have copied certain graphics from other games; while additionally, promising unrealistic performance—the creator had allegedly raised 4,739 on an $80,000 goal before letting this project go as incomplete.
Moreover, as the demand in global business ventures continues to grow, the use and promise of crowdfunding has been stamped on the ‘go- card’ of most investors. The crowdfunding model has proven to be very useful for campaigns. On the other, there have been multiple fiascoes that amount to big flops that hurt the pocket and reputations of crowd-funding users. The risk continues to be current, however, the rewards--of being enabled the opportunity to be a part of an investment goal--continue to exist. And the crowdfunding platform has been established in order to entertain the business market with rewards, endeavors and other forms of social networking; which has been an ideal goal for today’s hackers. With that said, be intrigued and hack your way into an investment opportunity and/or stay tuned for the next cause of global social contagion or convergence.
ANOTHER PROJECT: A GREAT BUSINESS APP
Businesses are always seeking another avenue that will lead to success. Fortunately, most marketing schemes amount to getting your business exposed—marketing.
Marketing is seen in a variety of behaviors: people standing on the streets with signs and hand-outs; tacky commercials that fill the tube in almost every bar and dwelling fathomable to modern humans; and of course, you can’t overlook the numerous ads and clippings in the local newspaper or—good grief—the mailbox. Conversely, there is a cleaner version of advertising; business apps work.
Business apps are useful for advertising firms and these types of diversions can produce the numbers needed in order to gain more business/consumer user exposure. Besides the app pastings on web pages, your finely tuned Android usually comes with a fantastic selection of colorful stamps that lead to business success.
Top Business Apps
iPad StratPad. The top business app today remains highly competitive and the ingenuity continues to keep the touchscreens dirty. For instance, the StratPad; as an iPad app, the StratPad is an ideal source for generating reports that include business plan summaries and financial projections. That way end-users can effectively and efficiently track business plans in work.
Sellingly, another top app. The Sellingly app is created, in order to track sales leads; by performing as an add-on reminder (through automated email) of certain business customers that need to be contacted in the future.
Every day, top business apps are in the making. The end result is a busy and competitive market. In relation, there are many apps to choose from and these products are available to most interest groups and users. Whether the need is for a customer service based app or an app that may enhance the communications with investors, there are apps available for the iPad, Android, tablet and desktop versions--Most of the products aren’t too shabby.