It’s high stakes poker. "It's high-stakes poker. It's so secretive -- you don't know what the other companies are doing. So you do what you think is right, and you go down that road. But you don't know if it's going to work out until the very end." (Dr. David Knighton, inventor of minimally invasive saphenous vein harvest, Embro Corporation, St. Louis Park, Minneapolis, Minnesota quoted in Steve Mcmahon, Contributing Writer, “Licensing Brings Cash for Inventions,” Minneapolis / St. Paul Business Journal, July 14, 2000)
Inventing is a high-wire act without a net. "Inventing is a crapshoot. It's a high-wire act without a net." (Richard C. Levy, author of "The Inventing and Patenting Source Book," a guide to commercializing new ideas, quoted in Julia Feldmeier - Washington Post Staff Writer, “Any Bright Ideas?; How Local Inventors Try to Capitalize on That 'Aha!' Moment,” The Washington Post, March 4, 2007)
Patent laws are too weak. “Patent laws are too weak to protect the small inventor.” (James Dyson, inventor of the highly successful Dyson dual cyclone vacuum cleaner quoted in William Underhill, “Small Time Inventor - James Dyson,” Newsweek International, January 22, 2001)
Invent because you love it, not because you want to make money. "If you are only in it for the money, wow, to me that's too risky. Do it for love and not for money, because the love will always be there even if the money isn't.” (Kurt Van Keppel, inventor of Xikar cigar cutters quoted in Joyce Smith, Business columnist, “Seeing your invention through: Entrepreneur week helps highlight some success stories of those who dream big,” Kansas City Star, February 27, 2007) See the outcome of Kurt’s successful Xikar cigar cutters invention available online.
Fraught with danger. “Dealing with companies to license or sell the invention outright is another important aspect of the process that's fraught with danger.” Invention company. (Richard Pachter, “Guidebooks for inventors prove both amusing and helpful,” Knight Ridder/Tribune News Service, November 29, 2001)
Are you looking for help with your invention? If you are, Inventors Workshop, one of the oldest nonprofit organizations in the U.S., may be able to help you out. The organization has been providing inventor help services for more than 35 years, you can contact them at Invention-Help-Services.org, Or call them at 805-879-1729
People prey on you. “To be an inventor on your own is extremely risky because people prey on you." (Russell Randall, inventor of a device that quickly thaws meat, cited in Jane Meinhardt, “Inventor helping others to create ideas,” Tampa Bay Business Journal, August 22, 2003)
Woefully low success rate for invention service providers. “Ultimately, the value any invention service provider brings to the inventor begins with the inventor's selection of the right people for the job at hand. THAT begins with understanding specific titles, skill-sets and services being offered by these service providers. Whether scam or real, it would appear that there is still a woefully low 'success rate' among them.” (Andy Gibbs, ipFrontline.com, “Invention Development, Licensing and Promotion - Hiring the Right Person For The Job”, Thursday, July 15, 1999)
Very few inventors can retire on their inventor royalties. “I can count on one hand individuals who can retire on their patent royalties.” (Rick Martin, partner, Rick Martin, P.C., “Obtaining a patent can be worth the costs involved,” Mass High Tech: The Journal of New England Technology, February 4, 2002)
Risk-taking is preferable than the warm death of mediocrity. “I'm a risk taker. I get up in the morning knowing that I'm either going to have a spectacular win or loss that is going to be exciting. I prefer the former but either is more appealing than the warm death of mediocrity.” (Dean Kamen, inventor of the Segway, DEKA Research & Development Corporation, quoted in an interview with Katherine Walsh, “Segway inventor Kamen on risk-taking, innovation,” Webwereld, April 19, 2007)
A better chance for success than becoming an NBA star. "You have teenagers thinking they're going to make millions as NBA stars when that's not realistic for even 1 percent of them. Becoming a scientist or engineer is." —Dean Kamen, inventor of the Segway, DEKA Research & Development Corporation. Read the fascinating story about the invention of the Segway scooter.