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How Inventions Create Money

 



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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.

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