Tuesday, September 8, 2009

Is Invention Valuable or Worthless?

There are many examples available in the history which put forth the true picture about the patents. Alexander Graham Bell’s telephone patent is one such example. His patent has been considered as the single most valuable patent ever issued in the history of the world. But he never had the money, political connection and above all the business experience to make his invention a commercial success. So he had to bring his invention to Gardiner G.Hubbard, a prominent Boston attorney and entrepreneur for the practical business and legal advice. Hubbard provided him all sorts of help for marketing and licensing the patent. Hubbard made the appropriate arrangements for ownership of the patent and creation of a new company to develop it. Hubbard organized a trust that issued 5,000 shares of stock. Bell shared the stock with Thomas Watson, his assistant, Hubbard, and Thomas Sanders, another key figure making his invention to become a business success, the Bell Telephone Company.

So the question that arises here is what if he had not found anybody to make his invention a success. I think his invention might have remained worthless for long.

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