United States Patent: 7194511
May 4th, 2007
Another personal friend of mine worked diligently for years for a well-known billionaire (well-known, among other things, for his admiration for Jimi Hendrix). Many things were invented, patents were filed and are now issuing in my friend’s name. These patents were assigned to the company, as part of my friend’s employment agreement.
The compensation to my friend was in private, non-liquid stock in the company controlled by the billionaire, which my friend was assured would fairly repay him someday. A few months ago the stock of the firm was diluted 100 to 1, and my friend’s nest egg pretty much wiped out. He left the firm.
The irony? His patents, all assigned to his former employer, are now issuing.
The point is that it is important for idea people to own their own intellectual property.
United States Patent: 7194511
United States Patent 7,194,511
Stettner March 20, 2007
System and method to manage participant input for an interactive show