Their first product sold by IPS was the forum software Invision Power Board, which quickly gathered a community of former Ikonboard users.

Early releases of Invision Power Board were available as a download free of charge under a proprietary license.

[5] In May of 2012, Version 4.0 represented a ground-up rewrite of Invision Power Board and related offerings.

With the release of IP.Suite 4.0, IPS has decided to no longer honor the perpetual lifetime licenses they have sold earlier.

[6] As a compensation for legacy customers, they offered a free transition period to the standard license type before legacy customers would be required to pay their first renewal if they wanted to continue to receive support and future updates.