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  1. J

    Tough questions, Licensing Issue

    SPEEDWAY 
    You nailed it man. I see that now on the form and after listening to unscripted. This one has just been on the back burner to long. Its a niche electrical product and this company sells niche electrical products. I talked to my attorney today but he only does contracts for intellectual property...
  2. J

    Tough questions, Licensing Issue

    SPEEDWAY 
    I don’t know man. I think I’m going to go with a nice contract, international sales and royalties right now instead of one hundred Jimbos in my closet. I’m not there yet. I’ll let you know how it turns out.
  3. J

    Tough questions, Licensing Issue

    SPEEDWAY 
    The point I was trying to make there is if the product is unpatentable do to prior art then why waste the resources pulling provisional patents for a work around. Plus would it be unethical to pull a provisional patent on something that is collaborative?
  4. J

    Tough questions, Licensing Issue

    SPEEDWAY 
    Yes, on paper, the bracket I designed is a beam clamp which the utility patent is owned by Caddy and the anchor shackle bolt is a part made for sailing from a company out of country. Neither of my parts would be confused with either of these things in a side by side comparison but as you know...
  5. J

    Tough questions, Licensing Issue

    SPEEDWAY 
    Thank you. We’re talking about 7% of wholesale price. This price would only be adjusted for demands and could actually decrease. Meanwhile manufacturing and packaging could go from $17 to $5 per unit and I’m still getting wholesale. I go back and forth man what if bombs then all this negotiation...
  6. J

    Tough questions, Licensing Issue

    SPEEDWAY 
    Thank you and you would be right. The final product is definitely a work around to my design. I worked with him as he has manufacturing experience and the stainless steal bracket I designed would double the price to market. So I redrew the bracket and we went back and forth perfecting the...
  7. J

    Tough questions, Licensing Issue

    SPEEDWAY 
    Thank you. This is my first forum so forgive me if I make some mistakes. Q Thanks for the advice I’ll call my patent attorney tomorrow.
  8. J

    Tough questions, Licensing Issue

    SPEEDWAY 
    The owner of Rack-A-Tier says he will give me 7% royalties on the wholesale price. The contract is a longer story. I have the design patent for the Jimbo and made 30 units. The cost for the complete tool ( which is an assembly) plus packaging my cost is $37 each. That is as far as I got when...
  9. J

    Tough questions, Licensing Issue

    SPEEDWAY 
    Hello My name is Jim Smith. I found this forum after listening to Unscripted. Resume: Electrical Contractor (boot strap) Wrote a study guide to help guys pass their journeyman and masters exam (making $250 per month)Website www.ElectricalExamAcademy.com Have a design patent on a Electrician...
  10. J

    Paycheck to paycheck

    Paycheck to paycheck

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