Quote:
Originally Posted by JRMichler
I have a few patents, and have had many discussions with patent attorneys. If somebody wants to infringe your patent, and you want to take him to court, budget $1,000,000. Threatening letters from your attorney are much cheaper, but carry negligible legal weight.
The real value from a patent is when talking to investors. Doug Pelmear (remember him?) got a large sum of money on the basis of a worthless patent application. I refer to his patent as "worthless" on the technical ground that it never has worked and never will work. Doug, however, got money out of it from technically unsophisticated financial and political types.
There's a lesson in there somewhere.
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You've been there and done that JRMichler. A valid issued patent gives you at least some leverage when talking to established manufacturing companies and/or investors.
If you watch Shark Tank many times they will ask the person seeking the Shark's money if they have a patent. Also, I've always been impressed by the fine job you did on your lid.
Bondo