GordonJ
July 12, 2021, 05:09 PM
Had a dinner date. Old friend.
And once we caught up, I got all fired up, either thanks to or because of a conversation with Harvey Brody.
Everywhere I looked, I saw patents.
Processes.
I noticed a car with fancy aluminum wheels. My brother used to work with an Alcoa supplier, specializing in Truck Wheels. Well, think back, to the guy who really got the aluminum wheels going, any idea?
Me neither.
But now I know the founder of this company left a fortune in a FOUNDATION which gives away 3 to 4 Million dollars a year in grants.
Or, how about the syrup dispenser? Someone invented that, got a patent, made a fortune. Or the sugar dispenser with a little spring on top that closes when done pouring? Or the napkin holders. Or the tongs in the salad bar.
EVERYWHERE I looked I saw inventions, patents, trademarks, copyrights. Secret formulas (think KFC, Coke in food).
I noted new businesses along the way, many of which were TAKEN OVER from someone...and very often, the founder or original owner is taking his sale money over time, to avoid tax hits.
Which gives the new owner a chance to "pay for the cow with its own milk", one of Harvey's favs.
I saw a LOT of vacant storefronts on the way to the restaurant, and once there couldn't help but notice smaller dishes at the salad bar, higher prices, and fewer selections.
We have entered a new era.
BUT, there are people, some second or third generations of folks, collecting a royalty for what old gramps did a half a century ago.
Patents, copyrights, chemical formulae, trade secrets...even up and running profitable businesses can be had for a little effort, an agreement and some new energy and marketing.
Once you learn these things, you will see them everywhere. And many of those founders are gone and maybe Jr. or Trey may want to sell and collect the dough, and you too can have your cow and milk too.
Gordon
P.S. My date got just a little bit annoyed, and for me, that is great improvement.
And once we caught up, I got all fired up, either thanks to or because of a conversation with Harvey Brody.
Everywhere I looked, I saw patents.
Processes.
I noticed a car with fancy aluminum wheels. My brother used to work with an Alcoa supplier, specializing in Truck Wheels. Well, think back, to the guy who really got the aluminum wheels going, any idea?
Me neither.
But now I know the founder of this company left a fortune in a FOUNDATION which gives away 3 to 4 Million dollars a year in grants.
Or, how about the syrup dispenser? Someone invented that, got a patent, made a fortune. Or the sugar dispenser with a little spring on top that closes when done pouring? Or the napkin holders. Or the tongs in the salad bar.
EVERYWHERE I looked I saw inventions, patents, trademarks, copyrights. Secret formulas (think KFC, Coke in food).
I noted new businesses along the way, many of which were TAKEN OVER from someone...and very often, the founder or original owner is taking his sale money over time, to avoid tax hits.
Which gives the new owner a chance to "pay for the cow with its own milk", one of Harvey's favs.
I saw a LOT of vacant storefronts on the way to the restaurant, and once there couldn't help but notice smaller dishes at the salad bar, higher prices, and fewer selections.
We have entered a new era.
BUT, there are people, some second or third generations of folks, collecting a royalty for what old gramps did a half a century ago.
Patents, copyrights, chemical formulae, trade secrets...even up and running profitable businesses can be had for a little effort, an agreement and some new energy and marketing.
Once you learn these things, you will see them everywhere. And many of those founders are gone and maybe Jr. or Trey may want to sell and collect the dough, and you too can have your cow and milk too.
Gordon
P.S. My date got just a little bit annoyed, and for me, that is great improvement.
