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Financing by presales

Postby melluc » Fri Jun 20, 2008 2:06 pm

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Kind of a goofy subject title. I wasn't sure how to put it. In Barbara Careys "Your Ideas are Worth Millions" book she states that she made an appt & took her prototype into the head buyer of the department ---got the order and a check---and thats how she got the money to produce the invention. She says she presells everything to get the money to make it.
Has anyone else done it like that? btw I am not talking about licensing the product.
Thanks,
Melodee

Postby makeworldbetter » Fri Jun 20, 2008 2:46 pm

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When you are established and reputable, that's more likely could happen. When you are nobody, I would image that's kinda hard.

Postby Codex » Sun Oct 19, 2008 6:50 am

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If you have a legitimately world changing product and are willing to describe it to just about anyone with a large check book, sure, maybe you can. You are much more likely to be the victim of idea stealing though. :cry:

Dream On!!!

Postby Mr Invention » Sun Oct 19, 2008 7:34 am

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Please, this is just another wishful dream by wanna be inventors. I couldn't even get my foot in the front door of any of my big buyers without a finished product with manufacturers volume price breaks, ready to give the buyer a demonstration and presentation of the final product and prove that I can make deliveries within a certain time frame. That is providing the buyer didn't want me to go and get a patent before they would even talk to me at all. I do infact go to buyers with my finished product to get PO's (Purchase Orders) but I must also be able to fill all the terms of the purchase order which will include their desired payment plan. I do it all of the time now that I have 40 years experience doing so and I have had companies like K-Mart go chapter 11 on me so I know what to look out for once the product has been delivered as far as collecting for the same. I am completing a $35,000,000.00 deal now with a buyer that has taken me three years to this point and it may take another year before all of the iiii are dotted and the ttttt are crossed. This is a larger operation than normal for me in that it involves 4 countries and 4 states here in the United States. Oh yes, all of the above has required having money to bring to fruition.

Postby Patent_Attorney » Sun Oct 19, 2008 7:15 pm

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I know of two inventors personally that did this method. Rob Silvers invented the photomosaic technology. From what he told me he paid to have the provisional done and then paid for the patent by selling the use of the process to advertisers at $15-60k a pop.

The second inventor produced a non-clogging leaf rake and also used sales to pay for the utility application.

The key is that it has to be a GOOD invention. If your invention sucks then you will never make money PERIOD.

Self Serving Statements

Postby Mr Invention » Tue Oct 21, 2008 7:55 am

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Mr. Patent, do I detect self serving statements and opinions on your behalf? It is becoming obvious through your posts over the last week (I mean you have really covered a lot of territory) that you believe in patents being applied for. I wonder why? Could it be that you are a patent attorney and that type of business pays your rent thus the promotion for the same? Ah yes, free enterprise, it is a wonderful thing. Oh yes, by the way my invention company will not be accepting anymore clients this year, we have our quota of one (1) satisfied for the year.

Re: Self Serving Statements

Postby Patent_Attorney » Tue Oct 21, 2008 8:09 am

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I admit that as a patent attorney I tend to want to patent an invention.
Last edited by Patent_Attorney on Tue Oct 21, 2008 8:42 am, edited 2 times in total.

Those that read but don't comprehend

Postby Mr Invention » Tue Oct 21, 2008 8:36 am

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Once again Mr Patent you are missing the meaning of the message and it also appears that you taking on a defensive demeanor which is very unbecoming and unprofessional. I have no problem with you promoting yourself and your ilk's profession, that is what free enterprise is all about. But also be advised that some very good selling products have no patents at all and couldn't be patented if you wanted to. One of my best products wilthout a patent sold in excess of $5,000,000.00 in one of its best years. I continue to sell that same product now for over 30 years and needless say the sales have diminished because of saturation and the product does not break. I also have another non-patented product that I have been selling for 35 years that is still generating income. This capitalistic society that I am living in has been very good to me. My main purpose in participating in discussions in this forum is the same as when I had my own idea forum 10 years ago and that is to help people with ideas to avoid making the sames expensive mistakes that I made when first trying to get my products to market. Believe me at the age of 70, I am not looking for any substantial financial gain through this forum. If that were the case, I would be accepting more than one or two clients a year. Thank you and have a nice day.

Re: Those that read but don't comprehend

Postby Patent_Attorney » Tue Oct 21, 2008 8:55 am

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I am very humbled that you are a better person than me and my ilk for selling products that are not patented. A patent is only needed to exclude others from making, using or selling a patented product and to get a license income.

Also if you fail to patent a product it may be used against you if a competitor files a patent on the same subject and sues you for infringement for selling your own product. You still have to defend a litigation suit if you violate another's patent with your own invention.

I have had clients spend over $200K to change the elements in production lines of existing products that were covered by patents that could have been patented for $10K but they did not beleive in the patent being used both as a sword and a sheild. They changed their opinion of the value of a patent quickly.

Postby Scrupulous » Tue Oct 21, 2008 10:45 am

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While I am already enjoying this exchange between the two of you, I do need to point out a few things to ensure that this remains a lively discussion, and not an ongoing violation of the Terms of Use at this site.

This forum is intended for the benefit of inventors. That said, there is a fine line between providing useful input and advertising (which is prohibited).

We all know that intellectual property is often one of the key concerns for inventors. Deal with it.

However, this forum isn’t meant to be an advertisement showcase. Anytime you mention pricing for your own services in here, you are advertising. Even pushing your own capabilities excessively can be considered advertising.

Let me refer you both to a couple sections of the Terms of Use here.


[color=darkblue][b][list][i]“[You will not] use the Communication Services in connection with surveys, contests, pyramid schemes, chain letters, junk email, spamming or any duplicative or unsolicited messages (commercial or otherwise).â€
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