Posted by Brendon-KS on June 23, 2018 at 11:46:35 from (63.245.145.35):
In Reply to: Re: 3pt hitch posted by Crazy Horse on June 23, 2018 at 10:02:28:
There are only a few ways in which a patent ever provides a financial return to the patent holder. 1) The patent holder is a manufacturer and the patent gives them a competitive advantage in the marketplace with resulting increase in sales. 2) The inventor negotiates a formal contract with a manufacturer to either pay royalties or buy the patent rights so the manufacturer can use the design in their products. 3) The inventor files suit against an entity viotating the patent and wins in court. However, unless the patent holder has very deep pockets and a very strong case scenario #3 is unlikely to occur as defending a patent could easily cost hundreds of thousands of dollars.
The thing to understand is that an inventor isn't entitled to any compensation just because they hold a patent. There is nothing criminally illegal about violating a patent so the inventor does not have the law on their side. It is up to the inventor himself to be either a good salesman (ahead of time) or an agressive defender in civil court (after-the-fact) if they ever expect to see a financial reward from their patent.
Above I use the terms "inventor" and "patent holder" sort of interchangeably but there can be a difference. If a private individual invents something and gets a patent the two terms would both refer to the person. On the other hand, if an employee of a company designs something which the company chooses to have patented the individual is listed as the inventor but the company is typically listed as the patent holder. In this case there is no financial benefit available to the inventor beyond any kind of bonus or other reward their employer might provide.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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