Started By
Message

re: Take former business partners idea or bring him in... again?

Posted on 5/4/21 at 11:25 am to
Posted by Oilfieldbiology
Member since Nov 2016
37582 posts
Posted on 5/4/21 at 11:25 am to
quote:

I would look at some sort of either profit sharing or a small stake in the company.


Why? The world is filled with great ideas. The money is made by those who can execute them.
Posted by Oilfieldbiology
Member since Nov 2016
37582 posts
Posted on 5/4/21 at 11:28 am to
quote:

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)


This comes off whiny and immature. The Romans were not great inventors, but were great at using other people technology to its maximum potential. Same thing with China historically and currently.

The world needs both, but don’t get upset just because some people are in much better positions/have better capabilities to capitalize.
Posted by The Goon
Baton Rouge, LA
Member since Nov 2008
1247 posts
Posted on 5/4/21 at 11:37 am to
If the guy is too lazy to run with the idea, he’s too lazy for IP patent protection or suing you. File the basic paper work to cya and go along with the business. Maybe down the road create another business and transfer the IP and say the original company is no longer selling the product. And then never speak to this person ever again.
Posted by LT
The City of St. George
Member since May 2008
5151 posts
Posted on 5/4/21 at 11:48 am to
Id like to invest... I have a sizeable amount of Iraqi dinar
Posted by DirtyMikeandtheBoys
Member since May 2011
19429 posts
Posted on 5/4/21 at 11:50 am to
The arse Pounder 4000?
Posted by USMEagles
Member since Jan 2018
11811 posts
Posted on 5/4/21 at 11:52 am to
quote:

Xerox created the mouse and object-based interfaces


This enabled nothing in particular that computers couldn't do before, while opening them up to idiots who have no business using computers.
Posted by KABoss02
Dallas
Member since Jul 2009
1362 posts
Posted on 5/4/21 at 11:55 am to
Did you guys put together a company? Is the IP addressed in the formation docs or a lot of written correspondence around the start of the company and the idea?

Did the company dissolve or just go dormant?

Trying to figure out if he even has any rights based on how you guys originally set things up.
Posted by Ghost of Colby
Alberta, overlooking B.C.
Member since Jan 2009
11298 posts
Posted on 5/4/21 at 11:59 am to
A lot of successful partnerships start out this way. Some people are inventors and idea types, but they can’t or don’t follow through.

They need someone like you with business sense to handle the nuts and bolts of the operation to get it off the ground and make it successful.

In an ideal world, the other guy would remain involved to some degree. He might only step in occasionally to offer his insight or opinion, but it’s enough for him to remain a valuable resource for the company.

It sounds like this other guy doesn’t want to be involved, and is no longer an asset. You don’t have any moral or ethical obligations to him at this point, but legally you might be wading into some murky waters.

Speak with an attorney. It shouldn’t require much time or money for one to at least point you in the right direction.
Posted by keakar
Member since Jan 2017
30126 posts
Posted on 5/4/21 at 12:06 pm to
buy him out first, legally and on paper with witnesses before you do anything or if you are successful he will sue AND GET half your fortune after you make it a success
This post was edited on 5/4/21 at 12:07 pm
Posted by Double Oh
Louisiana
Member since Sep 2008
17996 posts
Posted on 5/4/21 at 12:07 pm to
Depends on how good a friend is he?
Posted by Kujo
225-911-5736
Member since Dec 2015
6015 posts
Posted on 5/4/21 at 12:18 pm to
quote:


This comes off whiny and immature. The Romans were not great inventors, but were great at using other people technology to its maximum potential. Same thing with China historically and currently.



Exactly, no creativity, but the ability to copy and the tunnel vision to put all of your mental efforts into it.

A very high IQ person said to me one time, that he needs to live to 500 years old for it to be worthwhile. With our current life expectancy you can only have one substantial career. You have to dedicate your life to one area.

He wanted to make legal changes, medical changes, computer coding, aerospace design, etc... But didn't want to be pigeonholed into one area when he has so many things he wants to do.

Like if I invent a new hot dog taco hamburger combo. Do I really want to dedicate my life to opening f****** food dispensaries and working with min wage employee HR issues?

"No, here's the idea, roll with it and give me 5% so that I can work on something else."

The person with zero vision to create anything on their own needs the idea person to give them purpose in life.
This post was edited on 5/4/21 at 12:28 pm
Posted by Meauxjeaux
98836 posts including my alters
Member since Jun 2005
40123 posts
Posted on 5/4/21 at 12:27 pm to
quote:

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)


In other words....

Ideas are shite.

Execution is everything.
Posted by BayouBengal23
BR
Member since Mar 2019
573 posts
Posted on 5/4/21 at 12:28 pm to
quote:

Did you guys put together a company? Is the IP addressed in the formation docs or a lot of written correspondence around the start of the company and the idea?

Did the company dissolve or just go dormant?

Trying to figure out if he even has any rights based on how you guys originally set things up.



We got an idea, made some prototypes, and had one meeting with a patent lawyer. That is as far as we got. I dont think he has any grounds for anything.
Posted by EvrybodysAllAmerican
Member since Apr 2013
11201 posts
Posted on 5/4/21 at 12:32 pm to
quote:

If you need a business partner I might be interested but I'm short on money at the moment.


Posted by Kujo
225-911-5736
Member since Dec 2015
6015 posts
Posted on 5/4/21 at 12:32 pm to
quote:

Execution is everything.



Lol..."Percy Lebaron Spencer was an American physicist and inventor. He became known as the inventor of the microwave oven"...is a worthless piece of shite.

All the hundreds upon hundreds of companies that make junk microwaves selling at Walmart are the real Gods that we should worship!




Posted by TomballTiger
Htown
Member since Jan 2007
3790 posts
Posted on 5/4/21 at 1:34 pm to
I'm no patent attorney although I do have a law degree. I'm also no inventor but if I was going to seek intellectual property advice I would definitely start here. oy vey

inb4

we need an IP board
first pageprev pagePage 2 of 2Next pagelast page
refresh

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram