Originally Posted by Space Mountain
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.
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.