Patent Law

Inventor's Patent Pending Technology a Deal Maker

By John Rizvi

As I've often mentioned, it is the individual inventors throughout our history who have kept the pipeline of ideas and innovation humming with vibrancy. Today, I read an article in (CNNMoney.com, dated November 27, 2007) that tells of an inventor of a cell phone translation technology who is set to generate big revenue with this invention.

Having reached patent pending stage, the inventor has entered into an agreement with FTS Group to own 10% of their new subsidiary "Version Ventures Corporation," while FTS will own the remaining 90%. This means that the company will bear the responsibility for manufacturing and marketing and all other costs, while the inventor stands to generate revenue for the fruits of their labor and his/her own ingenuity. Not a bad way to do business. Congratulations to the inventor, and I look forward to seeing how the technology will benefit cell phone users when the patent becomes official. Visit AgoraCam.com for more information on the venture.

Full post as published by Florida Intellectual Property Law Blog on November 27, 2007 (boomark / email).