Adam

[Adam]

Thanks for the inshgts Maia.

[Adam]

Julian,
Great thoughts from the “You should produce it yourself” side. And you are absolutely correct for someone like you.
Sophia,
It all comes down to what you want out of life. Statistically, the odds of success producing it yourself are over 20 times the odds of success trying to license (I read that somewhere). The person who successfully produces it themselves also makes much more money as Sophia mentioned.
However, That success comes with a high price and requires many skills that most people don’t have.
You need to be a marketer, salesman, accountant, businessman, manufacturer, and engineer or have enough money to hire all those people. It’s also a 14 hour a day, 7 days a week job and you have to bet the farm.
If you are like Julian, do it! I, on the other hand, have many ideas I want to see out there and not a lot of money. I have no desire to be the boss. I want to have ideas, prove them out, develop them, and pass them on. A lesser profit on each idea, and time to pursue new ones (which is the part I love) is quite acceptable to me. That’s why I am trying to license mine.

[Adam]

There is an ironic story that Maxim write to the Times of London about the genesis of the machine gun:

“In 1882 I was in Vienna, where I met an American whom I had known in the States. He said: ‘Hang your
chemistry and electricity! If you want to make a pile of money, invent something that will enable these Europeans to cut each other’s throats with greater facility”.

That’s exactly what he did. He developed the Maxim gun, which used recoil to expel the cartridge that had just been used and load the next cartridge. He made that pile of money and received a knighthood from Queen Victoria (although he was actually knighted by King Edward VII). All that for creating a machine of slaughter, just in time for World War I. PBS notes, “Maxim died on November 24, 1916, only days before the Battle of the Somme, where over one million soldiers fell in four months of machine gun warfare.”

[Adam]

Hi, Lucy. It is best to apply PPA and then license your innovation. PPA doesn’t take much time and it gives you one year time period to find a licensee for your innovation and persuade him to pay for your patent as he will be the beneficiary of this invention too. I hope that helps. Good luck!

[Adam]

Yes, I have heard about her. She has been called

the most famous 19th-century woman inventor

.

[Adam]

Thank you, Maia, for guiding me to all these options. I will certainly look deep into it further for the right option.

[Adam]

It is amazing how a synthetic product can have vast applications from musical instruments to bomb-proof materials.

[Adam]

Thank you, Theresa, for guiding us through these stages of creating innovative ideas. I was stuck in my thinking capacity. Creative ideas may sometimes overflow and make a mess. Same is happening to me. Now I have a way to get out of this mess. Thanks for giving me a way out.

[Adam]

Yeah, Danny. I know about Polaroid cameras. We still have those Polaroid photos of my Granddad taken by him with his friends in black and white as you mentioned. Very useful invention to have a peek inside their lives.

[Adam]

This sounds interesting, can someone explain briefly what a sell sheet is? I mean, I get what its purpose is but how should it look like? I’ll have to do some googling on this as well.

[Adam]

Hello Jack,

Please keep us updated, I am looking for advice in this direction and would love to know how your situation progresses.

Thanks and best of luck!

[Author]

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