It is a curious but well demonstrated fact that people who have inventive genius often lack the means to carry out their ideas. An inventor who has ample means can secure his patent and proceed to turn it into money without the necessity of being compelled to solicit financial aid from anyone. This, unfortunately, is not generally the case with inventors; indeed, many are often barely able to stand the expense incident to taking out the patent. Patentees laboring under this disadvantage are frequently tempted to part with a small interest in their patents for the sake of securing sufficient funds to carry on the promotion of their inventions and sale of the patent; and in doing this the inexperienced patentee is apt to make the fatal mistake of assigning to another an undivided interest in his invention.

Such an assignment may appear well enough on the face of it, and many patentees have been misled, supposing that under the assignment the proceeds from the patent should be divided pro rata, according to the several interests. This, however, is notp. 21 the case in such assignments, and joint-ownership of a patent, or interest therein, does not of itself, without an express agreement to that effect, make the parties partners. They are merely tenants in common, each having the right to separately make, use, or sell the invention so assigned without liability to account to their co-owners for any part of the profits derived from the invention through their own efforts.

In an assignment of an undivided interest, the assignee is afforded an opportunity of manufacturing, using, and selling to others to be used the article covered by the patent; also, to grant territorial grants, such rights being unlimited by the terms of the assignment, and it is actually of little consequence how small an interest is thus conveyed, the assignee can proceed with the patent in much the same way as if he were the sole owner; therefore, whenever it is intended that the relation of co-partnership shall exist between the patentee and the assignee of an undivided interest, and that the profits arising from the invention shall be equitable, for their joint benefit, there must be an express agreement between them to that effect, otherwise the assignee will have a decided advantage over the inventor, if he is inclined to be dishonorable, and there are numerous cases on record where patentees have virtually lost their patents by such assignments. Patentees shouldp. 22 especially guard against strangers who offer to purchase an undivided interest in their patents.

A better procedure to secure means necessary for the development, introduction, and sale of an invention is to borrow the money from a friend contingent on the sale of the patent, sell a State or county right, or enter into a contract with a party willing to furnish the means for a certain proportion of the proceeds derived from the invention. Generally speaking, it will not be hard to find a party willing to advance sufficient means to promote an invention which is protected by a patent for a certain percentage of the net receipts arising from its manufacture, sale, or territorial grants, and the patentee will probably find a person among his own acquaintances who will not only be glad to furnish the means necessary, but also be of value to the patentee in realizing from his invention. In any case, whatever is agreed upon should be put in the form of a contract, or an agreement, couched in such terms as will leave no doubt as to the understanding between the parties. The following form secures both parties, and will be suggestive of others:

Whereas I, Richard Doe, of Philadelphia, County of Philadelphia, and State of Pennsylvania, have invented certain new and useful improvements inp. 23 Telegraph Keys, for which I have obtained Letters Patent of the United States, bearing date January 1, 1901, and number 000,000, and whereas John Roe, of Camden, County of Camden, and State of New Jersey, is desirous of obtaining an interest in the net profits arising from the sale or working of the said invention covered by the said Letters Patent.

Now, therefore, this indenture witnesseth, that for and in consideration of one dollar by each of the parties hereto paid to the other, the receipt of which is hereby acknowledged, it is stipulated and agreed as follows:

First, That the said John Roe shall pay all moneys necessary to the construction of a suitable model to represent the said invention; that he shall pay all necessary expense in advertising and bringing said invention before interested parties (and such other clauses as may be deemed necessary and agreed upon, such as the expense of constructing a working model, or carrying out a process, etc.); that he shall make diligent effort to promote the said invention, its manufacture, and sale.

Second, That the said Richard Doe, sole owner of said invention and Letters Patent, in consideration of the payment of the moneys above mentioned, agrees to pay the said John Roe twenty-five per cent. (or other amount agreed upon) ofp. 24 all the net receipts in any manner arising from the sale or working of the said Letters Patent, during the term for which said patent is granted.

Witness our hands and seals this tenth day of January, A.D. 1901.

In the presence of:

John Smith,

Thos. Jones.

Should an inventor defer the filing of his application until his invention is fully developed as regards the detail construction and arrangement of the parts? The best opinion seems to be in favor of the prompt filing of the application. The final form of the details can best be determined by the manufacturer and expert machinists and designers, who appreciate the matter of economical manufacture, which is quite as essential as the efficiency of the device or machine. Clearly, therefore, the inventor cannot decide as to all the details; why then should he delay his application?

The safest course for an inventor is to file his application for a patent as soon as his invention is complete in its principal features, so as to conform to the requirement of the Patent Law that an invention be sufficiently complete to be theoretically operative. The mechanical details are rarely of great importance as far as the patentable feap. 25tures of the invention are concerned. Still, it is well to give the attorney full particulars of whatever details the inventor has in mind.

Under the security thus afforded for the main features involved in his idea, the inventor can proceed more deliberately in perfecting and improving his invention, and can then file an additional application if necessary, to secure special protection on particular improvements or the improved invention as a whole. The early filing of an application may turn out to be important in securing to the inventor his right of priority. When the inventor comes to exhibit his invention, with the idea of bringing it to the attention of the public in general, there is no question that he should then have his invention in the best form he can, and in as attractive shape as possible.

The patentee who proposes to realize from his invention should never let it be known that he is in want; of course, in some cases he cannot help himself, but he should endeavor to obtain the necessary assistance from his acquaintances, and under no circumstances let those with whom he is trying to deal get an insight into his financial condition, as capitalists and others will very often take the advantage of an inventor when known to be in straitened circumstances, and the patentee probably wouldp. 26 not realize as much from his patent as he otherwise could. Therefore, it is advisable in all cases for the patentee to manifest no impatience, remain silent as to his financial condition, and strive to impress those with whom he is dealing that he is in no condition to be "squeezed."

Inventors, while working on a complicated machine, should not overlook the value and importance of keeping a record of the progress of the development, illustrating it with sketches, signing and dating them with each new addition, and, when practical, having it witnessed by one or more persons. This plan is preferred by many inventors to filing a caveat. Such a record will be found very valuable in case of an infringement, as it enables the inventor to ascertain the various steps of his invention, and is a sort of evidence that cannot be impeached. Such a record of a complicated invention, when the inventor has put much time and study upon the subject in perfecting it, will also be found valuable in effecting sales, and in fixing the price of the patent.

It cannot be denied that at the present time there seems to be in many sections of the country a strong prejudice against patents, which sometimes makes it difficult to get people sufficiently interested to take hold of any patent; especially is this truep. 27 when the patentee endeavors to sell his patent piecemeal; that is, by county, township, shop, or farm rights. No matter how important or valuable the invention may be, there seems to be a disposition on the part of the public to look upon such rights as a fraud, and to be very cautious how they invest in them.

The public is not wholly to blame for this, as in recent years there has been a class of men who have canvassed the country with patent rights, not caring what representations they made so long as they were able to effect a sale; consequently, many people have been lured into purchasing patent rights for a small territory which in many instances were worthless or not as represented, causing them to be more or less skeptical of all patents, as well as to bring this manner of selling patents generally into ill repute. With manufacturers and capitalists, this prejudice does not exist to any great extent, as with them the patent rests solely upon its own merits.

Many inventors overlook the importance of interesting newspaper men in their inventions. This is a matter of great consequence to the inventor in exploiting his invention, and should be given some attention. Newspapers desire items of interest of every description, and readers are usually interested in brief accounts of any new invention possessingp. 28 novelty or merit; so that when the inventor once gets his invention into the newspapers it is generally copied by other papers, with the result that the invention gets a large amount of free advertising and publicity. These items frequently attract the attention of capitalists, manufacturers, and others, and at once put the invention in a favorable position before the public as could be done possibly in no other way—certainly in no cheaper way.

Many of the trade journals and other periodicals are also open to receive technical descriptions of inventions of merit concerning industrial improvements. Such articles should be written in good form, containing not over five hundred or a thousand words, and if admitted to this class of publications will be of the utmost value and importance in creating favorable public opinion, and in advancing the inventor's interests.

With hardly an exception, if an invention strikes editors favorably and is adjudged to be of sufficient interest to form an article of news in newspapers, or of sufficient merit to warrant a description in the trade papers, it is pretty certain to prove a success and bring the inventor large returns.

If the invention is of such a character as to strike newspaper men unfavorably, the inventor can resort to the advertisement columns; usingp. 29 the large daily papers, or such publications which in some way relate to the industry to which the patent appertains, and such as have the largest circulation among the class of people it is desired to reach. See about advertising on page 46.

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