FAQ  •   Login  •   Register  •   Subscribe 

Welcome to the Forum for InventorSpot.com, the most popular invention related website in the world. Read our welcome message.

Skip to content

Moderator: Scrupulous


INVENTOR FOUNDATION

YES
8
100%
NO
0
No votes
 
Total votes : 8

Postby Work2XL » Tue Jan 01, 2008 11:51 pm

User avatar
Work2XL
Blue Belt
 
Posts: 478
Joined: Tue Apr 24, 2007 7:56 pm
Location: Denver
It sounds like a good idea. While I would pay/donate $100 to the site/foundation for the information I've already received, I don't realistically see most of our active members doing the same let alone any of our dormant members sending in money. Outside funding would pretty much be a necessity for the awards previously mentioned. Once the first product was successfully taken to market and a profit was created, then a percentage could fund future projects. Questions to be answered. Can a foundation be a shareholder of an LLC? Could that be a part the contract for accepting any money from the foundation as Roger mentioned if the inventor takes the product to market themselves. Same with licensing. Is there a way for the foundation to lien future money generated from a project they invested? Better yet, why not make it a loan to the inventor or even an investment in the project that can be bought out by the inventor for reasonable terms in the future. Our foundation members could represent different fields needed to bring a product to market or at least production ready stage. These members could donate their time at "cost" to get the first project or two off the ground, or even used to barter with other members to get projects advanced. This could be a way to get the foundation started. Set up a group of board members in these fields who have projects going, pick a project with the best ROI with a percentage of the proceeds going back to the foundation for repayment of time spent and to fund the next approved project.

This is a business model I had suggested awhile back to a few memebers. It could work if we had the right people and the right projects to begin with. Unfortunately, many of our projects will require tooling costs (molds) which are usually the barrier to entry for most inventors as it would be for a starting "foundation".

This may be what is going on in the Private Forum. If so, GREAT. I wish you the best of luck.

Any suggestions?

Curious

Postby inventor-x » Fri Feb 01, 2008 5:28 pm

User avatar
inventor-x
Brown Belt
 
Posts: 917
Joined: Sat Nov 04, 2006 5:44 pm
I am just curious if admin or if anybody on this website is working on this idea of a InventorFoundation yet?

Has anybody looked into the LOTTERY idea yet?

Postby makeworldbetter » Fri Feb 01, 2008 5:31 pm

User avatar
makeworldbetter
Black Belt
 
Posts: 1496
Joined: Mon Jun 25, 2007 9:15 am
Location: Silicon Valley
It reminds me a story called "Mouses and cat bell"

Re: Curious

Postby Michelle » Fri Feb 01, 2008 10:55 pm

User avatar
Michelle
Black Belt
 
Posts: 1529
Joined: Wed Oct 11, 2006 7:27 am
inventor-x wrote:I am just curious if admin or if anybody on this website is working on this idea of a InventorFoundation yet?

Has anybody looked into the LOTTERY idea yet?


I think we're just talking about the idea right now. As far as I can tell, we don't have enough people willing to donate to make this happen yet.

Am I wrong?

Setting up a foundation will take some money to do for the legal work, etc. Right now, my sense is that we don't have enough money to set up the foundation...no less fund the foundation.

We're still a young site and still trying to grow the membership in our forums. As more folks find out about us and as this site is able to help some inventors become successful, we are hoping it's only a matter of time until this dream/idea can become a reality.

We have been working unofficially looking at various ways to help inventors and fund inventors but nothing ripe enough to discuss publicly with you all.

Michelle

Postby Whamzam » Mon Oct 13, 2008 4:58 pm

Whamzam
White Belt
 
Posts: 21
Joined: Sat Oct 04, 2008 10:54 pm
Not a bad idea, but who would keep an eye on this lottery? There would have to be some way of keeping a vigilant oversight on how this lottery was played and determined who is the true winner/s.

Postby abacus » Sat Jan 31, 2009 2:52 pm

abacus
Green Belt
 
Posts: 217
Joined: Tue Jan 27, 2009 1:11 pm
Yeah,I've thought about this.
An automonous inventor's group,sub-contacting out for it's collective needs,utilising purchasing power,and the skills of the members to get member-voted[problematical] ideas cleaned and screened for the market.
It seems like lost money to leach money into corporate layers.

Getting a store together to sell members' products[among others].
I've said this before,if inventors are as s..t hot as they make out to be,they should be generating leading/cutting edge products.
Is that not what we do: innovate,invent,improve?
So why should not what we produce not be top gear?Believe it.

Inventors license their ideas.Why not have ideas presented by various members out of which one idea is selected for licensing to the foundation to be mutually beneficial with an exit strategy.

Financing comes from a subscription[affordable,votable on] to benefit the foundation whose purpose would be to educate,facilitate,resource and maybe enter into mutually beneficial financial arrangements with various member inventors,if agreeable.

Is it not the case that we are all doing this to eventually get into the market,with the underlying assumption that we are producing,can produce products,that are that good?And that we can learn what is necessary and develop the skills to get us there,one way or the other?

If this isn't what significantly informs our efforts,we should really direct our efforts and resources into more enjoyable productive activities.

I'm just thinking that[hopefully]this is being worked out in the think tank.

Postby bottleslingguy » Sat Jan 31, 2009 5:52 pm

User avatar
bottleslingguy
Black Belt
 
Posts: 1753
Joined: Sun Oct 22, 2006 7:41 am
non-profit inventor's help line. It keeps popping up. How much longer are we going to ignore it?
Previous