Water storage..and the space to store it!

**welderguy** · 05-21-2014, 12:09 PM

Originally Posted by Lamewolf

Be prepared to pay big money to get a patent ! A friend of mine got a patent on a product that I gave him the idea for (with my permission) and it cost him $10,000 for the patent ! I can still make and sell the item if I want to and my friend does make and sell them, but it really took me by supprise how much a patent cost !

Yeah I found that out this morning, I have a friend that is a patent agent or something like that and I always thought he was just a photographer. he gave me all the info to get the ball rolling, I see a huge cost just to apply for a patent that i may not get, So he pointed me to a couple companies that may buy the idea and also pay royalties for !!!! years if they think it is a good Idea . so I am going that route and see if i can make a 1.99 or so!!!

**hunter63** · 05-21-2014, 12:30 PM

There is an organization in our town for inventors.....maybe something near you?
They advise you of how to proceed.
Many times these companies buy up your idea, and never produce it.....0% of 0 is 0.

My uncle had several patents for built in hand warmers on guns, bows and fishing gear....sold them and never got anything.

**finallyME** · 05-21-2014, 01:22 PM

If you don't have your own patent, then whatever company you let produce it, will file the patent and claim it as there own. And, hunter is right, companies can also sit on it, and never do anything with it, until the patent runs out. So, think about only signing an exclusivity agreement, only if they agree to produce and sell.

It sucks that patents are so expensive, but there isn't any way around that. Also, the patent office will always kick back your first application, no matter how well it is written.

**welderguy** · 05-21-2014, 02:42 PM

the company I requested info from mails you a non disclosure agreement, and the info I read is they give you a one time payment for the idea or invention if they want it , if they don't then my understanding is they cant do anything with the idea or invention because of that non disclosure agreement. And seeing that I wouldn't be able to do anything with it for a while I may as well see if its a valuable idea

**Rick** · 05-21-2014, 08:41 PM

run it past an attorney. Better to know now than when they inform you they own the rights.

**welderguy** · 05-21-2014, 09:14 PM

Originally Posted by Rick

run it past an attorney. Better to know now than when they inform you they own the rights.

I did, he said they are legit, BBB rated. so we shall see if I get ripped or come out good.

**Rick** · 05-22-2014, 06:12 AM

Great! Good luck. I hope you make a trillion bucks with it.......uncle welderguy.

**welderguy** · 05-22-2014, 09:09 AM

Thanks Rick!!!

**finallyME** · 05-22-2014, 05:08 PM

What is the company? I have an idea that I have been thinking about.

It sounds like the deal is that they will patent the idea and make as much as they can with it. In the long run, you could make less money by not owning the patent yourself.....but that is a gamble. Shoot, I am on a bunch of patents for stuff here at work, and all I get is salary. So, that sounds like a better idea. I wish you all the luck!

**hunter63** · 05-22-2014, 06:27 PM

Many times a lot of patent ideas are bought up by a clearing house company that has several ideas close, and clears the way fo the version they are backing.
That was what happened to my Uncles idea.....was grouped into a lump was paid $25 bucks for it back in the 1950's ( I have a copy of the application)....along with 10 more people od so.

If they would have used HIS version he would receive like 10%.
It was held for a while, and nothing happened with it.

**Rick** · 05-23-2014, 06:28 AM

FinallyMe- My guess is you signed a waiver for employment that said all patents belong to the company. I did when I hired on. Check it out before you try to patent something your boss takes displeasure in. Check the wording closely. It might be any patent while in their employment. Not just something you dreamed up on the job.

**finallyME** · 05-23-2014, 09:40 AM

Originally Posted by Rick

FinallyMe- My guess is you signed a waiver for employment that said all patents belong to the company. I did when I hired on. Check it out before you try to patent something your boss takes displeasure in. Check the wording closely. It might be any patent while in their employment. Not just something you dreamed up on the job.

Yep, I have to check with my agreement I signed at employment. My brother in law is a patent attorney, so I will probably consult with him before doing anything.

**Rick** · 05-23-2014, 01:20 PM

Seriously? Talk about convenient.

**finallyME** · 05-23-2014, 04:20 PM

Yeah, my wife's oldest brother is an MD, and so is his wife. Her second oldest brother is a patent lawyer. Her third oldest brother is a Biochemist. Her dad is a physicist who has been working on ICBMs for decades. One of her younger brothers is still in school studying computer science, and her youngest just finished fire-fighter school in the San Antonio area. Sometimes we can have some interesting conversations. Luckily I grew up with all of them, so I know them very well, and they don't intimidate me at all. I am just a lowly Mechanical Engineer.