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Started By
Message
Take former business partners idea or bring him in... again?
Posted on 5/4/21 at 10:32 am
Posted on 5/4/21 at 10:32 am
So me and an acquaintance of mine tried to start a business with a new product a few years ago. It was originally his idea but I got all in and even put up funds to start it. The dude is lazy and has no drive, but that invention was great and had potential so I went in with him. A few months goes by and he just bails on the idea. Tells me he's working on some things and was broke so he did not continue.
Fast forward a few years, and I start thinking about it again and know I can take off with it. My only dilemma is do I bring him back in (which I dont need him) or pull a Mark Zuckerburg on him and just roll with my new partners.
Second question is, would you spend the money to get a patent first or just launch and see what happens? Patents can take a long time to come through.
Fast forward a few years, and I start thinking about it again and know I can take off with it. My only dilemma is do I bring him back in (which I dont need him) or pull a Mark Zuckerburg on him and just roll with my new partners.
Second question is, would you spend the money to get a patent first or just launch and see what happens? Patents can take a long time to come through.
22
Posted on 5/4/21 at 10:33 am to BayouBengal23
Need to know the idea before I can form an opinion.
Posted on 5/4/21 at 10:34 am to BayouBengal23
quote:What’s the idea? Please be detailed.
Second question is, would you spend the money to get a patent first or just launch and see what happens? Patents can take a long time to come through.
Posted on 5/4/21 at 10:37 am to BayouBengal23
quote:
Second question is, would you spend the money to get a patent first or just launch and see what happens? Patents can take a long time to come through.
You can have a patent still pending while you launch just FYI.
Plus it protects your IP
Posted on 5/4/21 at 10:40 am to BayouBengal23
If it is that technical you can start with a provisional patent and get rolling. The provisional is quicker.
Posted on 5/4/21 at 10:40 am to BayouBengal23
Ideas are shite.
Execution is everything.
Execution is everything.
Posted on 5/4/21 at 10:41 am to BayouBengal23
Definitely take the above advice and get rolling on a patent.
Posted on 5/4/21 at 10:42 am to BayouBengal23
Every billionaire in this world has fricked over somebody to get where they were at, except in this instance your buddy did it to himself. Let you in on the IP and bailed, it's yours now if you want it.
If you need a business partner I might be interested but I'm short on money at the moment.
If you need a business partner I might be interested but I'm short on money at the moment.
This post was edited on 5/4/21 at 10:44 am
Posted on 5/4/21 at 10:43 am to idlewatcher
Sounds like good advice because lazy baw might become part owner without doing much leg work. I think the guy with the original idea could be bought out pretty cheap but better do it early. Just my .02
Posted on 5/4/21 at 10:47 am to BayouBengal23
did you ever sell any of them (whatever it is) in the first iteration of the business? if you did, then your patent application is out the window without enough changes to the original concept to constitute a brand new patent
reach out to a patent attorney and ask for a consult
they can research prior art and tell you whether it is worth pursuing or not
if it is, the patent attorney will start the paperwork
then get an attorney and ask for guidance on the business aspects of this
and stop asking the OT for legal advice
reach out to a patent attorney and ask for a consult
they can research prior art and tell you whether it is worth pursuing or not
if it is, the patent attorney will start the paperwork
then get an attorney and ask for guidance on the business aspects of this
and stop asking the OT for legal advice
Posted on 5/4/21 at 10:49 am to FLBooGoTigs1
quote:
Sounds like good advice because lazy baw might become part owner without doing much leg work. I think the guy with the original idea could be bought out pretty cheap but better do it early. Just my .02
There is no replacement for the inventor though. It's like the engineer baw starting his own company yet has zero idea how to run a business.
I would look at some sort of either profit sharing or a small stake in the company.
Posted on 5/4/21 at 10:49 am to BayouBengal23
If you feel compelled to "buy" the idea from him, or give him a royalty for a limited time, by all means, but you owe him nothing. It doesn't cost much/any money to get in front of buyers. Give him the option to run the sales part of it and give him commission if he wants to work for it.
If after offering him an opportunity to get involved and he passes, that's on him.
If after offering him an opportunity to get involved and he passes, that's on him.
Posted on 5/4/21 at 10:53 am to BayouBengal23
This is evidence in the future case against you, bozo.
Posted on 5/4/21 at 10:55 am to BayouBengal23
The fleshlight has already been invented my guy
Posted on 5/4/21 at 10:57 am to BayouBengal23
Sounds like this is admittance of a fricking over the former partner.
Posted on 5/4/21 at 11:02 am to Chad504boy
You're the business guy and lazy guy is the inventor! Umm, bring him in and let him shine by inventing more stuff!
Posted on 5/4/21 at 11:05 am to Chad504boy
This is the issue with people and IQs
The idea guy with a higher IQ is rewarded by creating something, Even if just an idea. Think like an artist painting his own painting, or a songwriter writing a new song.
Most people in mathematics physics and elevated sciences are in it for the discovery.... Not financial gain that vulgar 80 to 110 IQ seem to value above all else.
Our current culture places monetary gains over the idea. Xerox created the mouse and object-based interfaces.... But Apple and Microsoft will be the historic "creators"
Facebook wasn't the first social media(But history will name Zuckerberg the founder of the social media). Amazon is just an online version of a mail order catalog, and wasn't even the first market eBay and other avenues were there before.(But bezos will be credited with revolutionizing shopping)
The idea guy with a higher IQ is rewarded by creating something, Even if just an idea. Think like an artist painting his own painting, or a songwriter writing a new song.
Most people in mathematics physics and elevated sciences are in it for the discovery.... Not financial gain that vulgar 80 to 110 IQ seem to value above all else.
Our current culture places monetary gains over the idea. Xerox created the mouse and object-based interfaces.... But Apple and Microsoft will be the historic "creators"
Facebook wasn't the first social media(But history will name Zuckerberg the founder of the social media). Amazon is just an online version of a mail order catalog, and wasn't even the first market eBay and other avenues were there before.(But bezos will be credited with revolutionizing shopping)
Posted on 5/4/21 at 11:07 am to BayouBengal23
Sorry. The Barack Hussein Obama butt plug has already been done as has the tagline "putting the O in your Bama since 2021". Have you considered becoming an ANTIFA protestor? We need more of those.
Posted on 5/4/21 at 11:22 am to Meauxjeaux
quote:
Ideas are shite.
Execution is everything.
Im the executioner. He is an idea guy. Im going all in on it!
Posted on 5/4/21 at 11:24 am to BayouBengal23
quote:
pull a Mark Zuckerburg
This. And lawyer up
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