Xinova puts out "Requests for Invention" (RFIs) and we pay innovators for their responses to those requests (solution report) at certain milestones. The RFIs are on behalf of our clients who are looking for a particular innovation which the RFI explains in detail.
The first payment milestone for the innovator is when we decide to present the innovators idea to the client which happens after a multi-stage review process. This is by far the smallest payment.
The second payment happens if the client likes your idea and wants it. They can select more than one idea for a single RFI and this payment is much larger than the first.
The third payment milestone is when the idea is protected as a patent or a commercialization plan is put in place for the idea.
Finally, if the idea is commercialized, the innovator will get paid based on how well it sells.