Last month, I signed a contract with Montgomery IP Associates.
The total sum I had needed for them to represent me during the patent application process had been daunting:
sixteen thousand, fifteen dollars.
For those who prefer it in numbers, that's $16,015.00, or more than I've made in a year since 2013.
I had not known how to proceed with my invention since November of last year.
That's when that price-tag had been told to me.
True, it would include their handling all of the legal documents needed for both the provisional patent and the industrial patent applications to the United States Patent and Trademark Office. It would also include their handling of the legal paperwork for the copyright for my invention, as well as the search required prior to a trademark application. Their firm would create brochures and marketing materials to bring my invention to the attention of a multitude of businesses, to help find manufacturers and distributors on my behalf. Plus, they would create a website to bring more attention to my invention.
Even so, as elated as I had been back in October, I was quite downcast by the money that would be needed to make my invention public and protected.
The representative I had been talking to, Jim Jackson, suggested I offer shares in my invention, as a fundraising tool.
He told me the standard investment was $500 per share.
I was free to sell however many shares I wanted, he said, but remember that the total available was 100.
In other words, I'd be offering folks one percent of any future monies I might receive for marketing my invention.
I certainly had no problems with doing that... but who would take me up on the offer?
Almost everyone I know works for a living and certainly have other uses for that kind of money.
How could I even ask them to help fund my dream?
My unending gratitude to my dear friend, Cathy Weaver, in California. When I was talking to her during our holiday call in December, I spoke about my dilemma. Justthatfast, she offered to purchase five shares from me! She had just received the windfall as an unexpected bonus and had not earmarked the funds for anything she and Paul needed. She would prefer to know she had helped me in my quest to help students to further their knowledge of chemistry.
She is amazing!
Her belief in me encouraged me to believe, too.
In February, I had four more investors who believed in my invention. My brother, Harvey Smith, and his son, my nephew Zachary Smith, each purchased one share. Later in the month, my Aunt, Linda Walker, and her daughter, my cousin Penny Bos, also each purchased one share.
I gained self-confidence in telling others about my invention and asking them to invest.
Last month, Jeffery Secrest, my physicist bfe, purchased two shares.
Then, my ex-husband, Jeff McDermott, not only purchased two shares, but convinced his girlfriend, Amy Schmitt, to do the same! Then she convinced her roommate, Radonna Winters, to purchase two shares. Then, the roommate's brother, Craig Davis, purchased five shares!!! All because of the good word from my ex-husband.
I am truly touched.
Twenty-two shares had been sold, to ten investors, with three of those being people who had never even met me or spoken to me.
I am truly blessed.
I promise to continue to give this project my heart and my time to make good on your incredible faith in me.
Now, to get started on the copyright and the provisional patent!
