In this episode of
Money Creation Explained we are going to cover How
Inventions Create Money.
Each year new inventions are created by individuals and
organizations and are filed with the USPTO (United States
Patent and Trademark Office) for protection. The patent
process is a lengthy and costly process that could take
years to materialize and if approved by the USPTO,
protection for Utility patents will be 20 years and Design
Patents 15 years. Issued patents are valuable because the
invention is protected for that patent length and gives the
inventor exclusive rights to profit from that patent.
There are many ways an invention can create money such as
selling the invention, licensing the invention, or producing
and marketing the invention yourself. Selling the invention
outright means the inventor has permanently transferred
ownership to another person or company for an agreed price.
All future benefits including royalties will no longer be
the inventor’s. Licensing the invention means that the
inventor will continue to own the invention and they are
licensing out the rights to make, or use the invention to
another person or company for an agreed price or royalty.
Licensing can be exclusive to one party or a non exclusive
license to more than one party. Producing and Marketing an
Invention yourself means that the inventor will work on the
tasks needed to produce, market, advertise, and distribute
their own invention.
IOU Notes platform was created so people will have an
alternative, namely other credit, payment, and loan options.
Best of all, the technology is Patent Pending and setup to
be Peer-based which means our company decentralizes credit,
payment, and loan decisions that once large financial
corporations had the exclusive right, and puts the power
into each person and small business on the platform. Our
mission is to create a company that has far reaching social
change and to help people around the world with their goal
of becoming financially independent.
Donations of $20
or
more will receive
our
Gift of Appreciation
Crypto
Currency Blockchain Coin
10 Million Max Supply Industry
leaders Bitcoin is
21 Million max supply
and Ethereum is unlimited.
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Note: IOU
Notes is a for profit company and any funds donated are not
tax deductible. We declare any donations as company revenue
and pay the applicable taxes on it.
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