capitalizing on ideas
- Thread starter strantor
- Start date
I know it was a long time ago, but that is how Edison got most of the patents attributed to him. He came up with an idea and had his lab techs do the hands on. Then he took credit
thatoneguy
- Joined Feb 19, 2009
- 6,359
No, you don't need to do that if you weren't paid for your service (if so, questions of who 'owned' the work would come into play if he got a lawyer). Depends on how well you know him. I'd cut a friend in for a bit of the profits only out of being a nice guy.
Things like this will destroy friendships. If he's not a close acquaintance, go ahead and produce/market/sell the item.
Any paper work you need to careful what you sign,if corporate
papers are invovled don't make the mistake of not filling out
minutes and holding proper meetings for the corporate record.
Most people don't think about the corporate stuff in a small
business. An example,you go in together and start sharing
profits and expenses,then one of you decide that you want
get out and divide assets. You may get a surprise when you
find out out you have been sharing,but now that you want to
leave you have no stock in the company. That important
because its a legal thing.A hundred shares,51% has a higher
legal postion. Another thing the other person could give the
business and all the debt.You have to careful what go on who's
credit or credit cards.Small partnerships rarely work out,you
can invest time and money and the other decides he likes to
play golf,then what do you do. You can't fire a partner.
papers are invovled don't make the mistake of not filling out
minutes and holding proper meetings for the corporate record.
Most people don't think about the corporate stuff in a small
business. An example,you go in together and start sharing
profits and expenses,then one of you decide that you want
get out and divide assets. You may get a surprise when you
find out out you have been sharing,but now that you want to
leave you have no stock in the company. That important
because its a legal thing.A hundred shares,51% has a higher
legal postion. Another thing the other person could give the
business and all the debt.You have to careful what go on who's
credit or credit cards.Small partnerships rarely work out,you
can invest time and money and the other decides he likes to
play golf,then what do you do. You can't fire a partner.
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i'm aware of a patent-system activist who, to show how absurd the patent system had become, managed to recently patent the "circular transportation device" (the wheel), "dog exercising device" (the stick), "bread refreshing system" (the toaster), and some others.
the patent system does appear to be an initially idealistic but corrupt entity in some ways. apparently there is a widespread predatory practice of patenting techniques that MIGHT one day be brought to market by someone else, and then capitalizing on their efforts.
the patent system does appear to be an initially idealistic but corrupt entity in some ways. apparently there is a widespread predatory practice of patenting techniques that MIGHT one day be brought to market by someone else, and then capitalizing on their efforts.
