  A student in the Michigan Agricultural College has invented a gate latch, for which he has received $10,000. We find the above item in our exchanges. Assuming it to be true, we commend the good sense of the student. If the usual results follow, the purchaser will either lose money by the operation, or will speedily sell “rights” to parties who will lose money. We have no wish to discourage inventors, for they certainly are entitled to full reward for any improvements or discoveries they give the world. But we think it is clearly true that the great mass of inventors—especially those whose inventions relate to “little things,” or articles in common use—place too high an estimate on the value of their patent right, often holding it, waiting for better offers from manufacturers or purchasers of “territory,” until some one patents a better device for the same purpose, when the first becomes useless or nearly so. There are certain inventions of very great value, because they supply a want universally felt. But even in such cases it is rare that the original inventor secures so high a degree of excellence that some one else cannot improve on his device. He may, however, succeed in patenting something which subsequent inventors will have to use, and for which privilege they must pay him. To illustrate: the plow is of almost universal use, yet there are objections to the best plow that has been or will be constructed. Suppose some one should invent an implement that would obviate all these objections, and do the work of preparing the soil for seeds better than any plow can, and do this work quickly and cheaply. Such an invention would be of almost incalculable value, and the inventor might well expect to become very wealthy. Yet it would be strange if some one did not improve on this invention, and thus divide the profits—perhaps take the larger share. Hundreds of men have suggested improvements of more or less value in reapers, after the main principle had been given to the public. In case of such an invention as a gate latch, it must be remembered that there are already very good ones in existence, and probably a still better one may soon be invented; and so we say that, in all ordinary cases, it is better to sell the patent if any such price as $10,000 is offered for it. However useful such an invention may really be, the inventor as well as the intending purchaser of a “right” should carefully avoid forming extravagant opinions as to “the money there is in it.” The farmer or other business man who gives up his regular business to engage in the sale of patents, in the great majority of cases, does a very foolish thing. We write this, because we have noticed in many cases the high anticipations of inventors or of purchasers of “territory” for some patent, and the disappointment and loss that followed. If any of our readers have invented anything they are convinced is of value, we say patent it by all means; but do not think of leaving your farm or other business to engage in its sale, or dream of sudden wealth to come from it. |
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