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Old 12-18-2008, 08:16 PM   #21
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Originally Posted by socca View Post
While we're on the topic of patents, I'll go slightly off-topic and echo the widely held belief that the U.S. patent system is 'broken'. The ever-growing number of patent applications and ever-growing backlog of unreviewed applications and ever-growing delays in patent issuance are making the system far less effective.
real life data:
my 1st patent - 3 years 5 months from application to issue
my 2nd pending patent - 3.5 years so far, very close to issue as of 3 weeks ago.
2 other pending patents - 3.5 years so far, so who knows if or when they will issue?

i do not expect to ever see any money from these. i'll take my 15 minutes (or 30 or 45 or 60) and be happy with that .

"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
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Old 12-19-2008, 07:48 AM   #22
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Originally Posted by Space Mountain View Post
Hi All:

I was approached recently about partnering/investing in a new invention.

My "partner" who I don't know too well claims there is NO other product currently on the market. He tells me he has a patent, as well. Naturally, I will verify this.

I was told today by someone else that "product liability insurance" is VERY important with ANY new invention.

Regardless, I realize the risk with new inventions and would welcome any and all comments, suggestions, advice, etc...

I will provide as much info. if needed from the knowledgable & helpful folks in this forum.

Thanks in advance.

Space Mountain
Wow what a splendid opportunity.

Some questions silly or otherwise to ask. and be sure to understand the answer:
-How come I'm so lucky to be afforded this wonderful opportunity?
-Just what is this great invention that no one has ever thought of?
- How many other lucky folks out there 'been afforded this ground floor opportunity?
- If it is so grea,t why aren't they making and marketing it directly, instead of the laborious patent process, for the gizmo -which anyone can modify, and, costs a fortune to defend?
-Can you understand what it is?

Once you have your answers, apply extreme BS filtering.
If after all of that you are satisfied, by all means borrow huge amounts of money give it to them and get filthy rich.

No, I would not be a slightest bit jealous of your good fortune.

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Old 12-19-2008, 04:39 PM   #23
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Originally Posted by socca View Post
Once he has some of your money, he'll be back asking for more.
The VCs call that "dry powder" or "protecting your equity"...


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