For entrepreneurs with groundbreaking ideas or innovative products, seeking investment and guidance to bring those visions to life is a natural step. Unfortunately, some companies prey on this very ambition. One such company is Idea Buyer, which promises to help entrepreneurs commercialize their ideas—only to rob them of both their intellectual property and their money.
On the surface, Idea Buyer appears to offer a legitimate service. They market themselves as a leading provider of intellectual property services, claiming to help businesses develop and launch their ideas into the market. However, as many entrepreneurs have discovered, this company is nothing more than a scam designed to exploit those seeking support and investment. What seems like a golden opportunity turns out to be a calculated con that leaves victims financially and emotionally devastated.
The Deceptive Sales Pitch
The trouble begins with Eric Corl, the so-called CEO of Idea Buyer, who presents himself as a successful entrepreneur and investor with a passion for helping others. He promises to help entrepreneurs turn their ideas into commercial successes, assuring them that he and his team are experts at bringing inventions to market.
This smooth-talking CEO convinces potential clients that their ideas are groundbreaking and that Idea Buyer will secure them the investment they need to make their visions a reality. The company claims to have helped hundreds of entrepreneurs since its founding in 2007.
For many, the first signs of trouble aren’t apparent. Corl pressures victims into paying upfront fees ranging from $10,000 to $50,000 for his company’s services, making extravagant promises of investment, product development, and marketing support. But once the money is paid, the story begins to unfold. Victims report that after making initial payments, they are met with silence and delays. What started as an exciting partnership quickly devolves into frustration, confusion, and financial loss.
The First Signs of Trouble
As the weeks go by, clients begin to see the cracks in Idea Buyer‘s facade. The promises made by Corl and his team are not being fulfilled, and communication becomes sparse and inconsistent. Many victims recount being pressured into making verbal agreements over the phone, which were later used against them. Since these conversations were recorded, Idea Buyer claims these agreements as proof of commitment, leaving the entrepreneur with no recourse.
For many victims, the situation only worsens. Contracts are signed, but the terms are vague, and legal counsel often reveals that these agreements are designed to trap the entrepreneur. Non-disclosure agreements (NDAs) are signed, but they turn out to be meaningless documents, offering no legal protection or binding promises from the company.
A Bait-and-Switch Scheme
The scam continues to unfold as clients are hit with unexpected additional fees and demands for more money. Corl, in particular, pressures entrepreneurs to pay deposits under the guise of securing funding or moving forward with the project. Victims report being asked for deposits of $7,000 or more, with promises that the funds would be used to move the project forward. But once the payments are made, the services promised evaporate, and communication stops entirely. Emails are ignored, phone calls go unanswered, and deadlines are missed without explanation.
As one victim recounts, after paying an initial deposit of $7,000, they were later asked for another $8,000 to “finalize” the deal. By this time, the victim had already been sold on the idea that Idea Buyer was the key to bringing their invention to market, and they complied, hoping to see some results. But after transferring the funds, the quality of service dropped drastically. The consultant assigned to the project showed little interest in actually helping, and despite Corl’s promises of “life-changing results,” the entrepreneur saw no tangible progress over the course of months.
The BBB and Fake Reviews
It doesn’t stop there. Idea Buyer has worked hard to create a misleading reputation, using deceptive tactics to create the illusion of credibility. Their Better Business Bureau (BBB) profile, for example, initially boasted an impressive rating, but it soon dropped to a D-. Suspiciously, the rating later bounced back to an A, likely the result of Idea Buyer paying to manipulate their standing. This false image of legitimacy is further bolstered by fake positive reviews on websites like Sitejabber, where accounts with no history suddenly post glowing testimonials.
This is a part of Idea Buyer‘s deliberate attempt to deceive new clients into thinking they are a trustworthy and reputable company. Victims report that they were initially drawn in by these fake reviews, which gave the false impression that Idea Buyer was successful at helping entrepreneurs. In reality, these reviews are part of a coordinated effort to fool individuals into trusting the company and paying large sums of money for services that ultimately do not exist.
The Shocking Truth About Idea Buyer
After speaking with multiple victims of Idea Buyer, a disturbing pattern emerges. Entrepreneurs from across the country—and even from outside the U.S.—have been scammed by the company, losing significant amounts of money with no return. One entrepreneur shared how their invention was not only ignored but later sold by Idea Buyer without their knowledge or consent. Others report that their ideas were never marketed or developed, and all communication ceased as soon as the money was received.
What becomes clear is that Idea Buyer operates as a bait-and-switch scheme, offering a dream that is never delivered. Instead of helping entrepreneurs, the company exploits their aspirations and steals their intellectual property. The team behind Idea Buyer is not composed of experts in marketing or investment, but rather a group of opportunists looking to make a quick profit by taking advantage of those who are trying to build something meaningful.
A Call to Action
It’s not just one or two people who have been taken advantage of—Idea Buyer has a long history of defrauding clients and leaving them in financial ruin. Entrepreneurs who have worked with Idea Buyer should share their experiences and raise awareness of the company’s fraudulent practices. The more people who speak out, the harder it will be for the company to continue its predatory behavior.
If you’re considering working with Idea Buyer, or if you’ve already been contacted by the company, it’s essential to do your research. Don’t fall for their polished pitch and empty promises. Legitimate investors do not ask for large upfront payments—they offer funding in exchange for equity, and they don’t manipulate clients into signing meaningless agreements. If your idea is truly worth something, real investors will see its value without needing to scam you out of your money.
Entrepreneurs must protect themselves from companies like Idea Buyer, and everyone should be aware of their fraudulent tactics. The power of the people is much stronger than the people in power.
