Why Buy Red Slots?


The Red-Memon Slot approach


Red-Memon Slots are a more traditional method of marketing ideas than Yellow-Memon Slots. Concepts in the Red-Memon class contain memons which may be patentable (though this is not guaranteed). They are sold to a single buyer and are subject to non-disclosure agreements. These agreements are needed because of the rules covering applications for Patents.

As with all IdeasBank Memons, Red Memons may be Popped-Up, that is they may appear on the website, and may also be withdrawn from the website (Popped-Down) without notice or apparent reason.

A Red-Memon Slot is available for purchase while it is Popped-Up and not previously sold. The slot is paid for in two halves. The first half is payable as a non-refundable deposit with the application to purchase the slot.

Red-Slot Purchasers are required to register a standard Development Agreement with IdeasBank for subsequent development of the memon. That is, IdeasBank is promised a royalty by the buyer for the use of the memon and for assistance and advice in exploiting it and registering any patent protection.

The second half of the slot purchase price is payable after the purchaser has completed the Non-Disclosure agreement and the Development Agreement and has had the opportunity to examine details of the memon. If the prospective purchaser decides within a short review period not to pursue development, the second payment will not be due. However, the Non-Disclosure Agreement still applies, and IdeasBank then has the opportunity to re-sell the slot to another purchaser.

If the purchaser pays the second half of the slot price to IdeasBank, IdeasBank will then be bound not to disclose or attempt to re-sell the memon to others for a fixed period as described in the Development Agreement.

To counter Memon Suppression, the purchaser must not just 'sit' on a memon purchase, but must supply evidence of development work to IdeasBank according to the Development Agreement. If no evidence is supplied, rights in the memon eventually revert to IdeasBank, but the Non-Disclosure Agreement remains in force.

Once a Red-Memon Slot is sold, the Memon will be Popped-Down from the website for a minimum period of five years. It will be popped-down permanently once it becomes known to IdeasBank that development of the memon is occurring.

Further purchaser incentives


  • In the future, IdeasBank intends to pre-release memons in advance of standard PopUp to those who have contributed revenue, and the bigger the accumulated contribution, the earlier the pre-release. Especially useful memons may be completely sold off before ever reaching standard PopUp. Hundreds of memons are being held in reserve.

  • In the future, IdeasBank may progressively restrict access to its website to those who have contributed revenue in the past. IdeasBank has no objection to others on-selling or brokering its memons, but access privileges and agreements may be restricted to first purchasers of slots.

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