are inventors of BS products rich?

[BITTAPART2]

heres the problem, a person in our family by marriage (would kill myself if he was really family) is a loser first of all. second of all hes always had ideas he shares w/ people about inventing stuff, well his last thing was a trash bag holder where your bag doesnt fall in the trash and stays put. rubbermaid apparently bought the idea or are using the idea he had and he is telling people he is going to be so rich that he is going to buy himself a 8,000sqft house and all his family a trip to hawaii and cars and boats etc etc. personally I know he is a peice of sh1t that has been arrested 3+ times for indicent exposure to young girls(bus stops and shitt!) phucking pisses me off, so now the other half of my family is on his jock when they used to talk trash about him and say they would never talk to him etc. now he is there best friend(that in itself is a weak characteristic to not have principles). I stick to my guns, he will never be around my son alone and I dont forgive him for what he did to these poor girls i dont even know who they are. anyways he was never convicted so he isnt a sex offender per se. I just doubt that he is going to be as rich as the ones around him think. this is a product that is pretty much offered by other companies already so its not like he invented the friggin synthetic heart or something. does anyone think he will get millions of dollars for this or what?

[prncezzml]

Maybe a million or a little more, because like you said, it's not a cutting-edge invention, other companies have already thought of it.

[BITTAPART2]

thats what i thought to.....BTW damn you fine!!!....but yeah he just showed my wife blueprints of this house w/ an elevator and such that is 2.4million and i can see him getting maybe 1 or 2 off the deal but what happens when taxes come or when his ex-wife finds out and jacks his child support up or when his family asks him to payback the thousands of dollars weve lent him over the years....

[WEBB]

just my 2cents here...if he is the scum bag that you say he is how do you know he isnt full of crap about the whole deal and might try and pull the ol " oh they pulled out cause i wanted more money" when actually they dumped him or didnt buy it in the first lpace...

[spywizard]

most are based on stock and options...

example, they may give him $150,000 cash, and then performance based stock options after that..

example, if they do indeed market and create the solutions he will be rich, but it flops, they will just not vote him the rest of the stock..

there ya go..

[biglouie250]

based on past history id say the guy is lying through his teeth about everything. check the google patents, they have tons of the same thing. doubt theyd pay for something that already exists. then again the inventor of the pet rock made a million bucks.....

[Tock]

does anyone think he will get millions of dollars for this or what?

Well, a patent is good for something like 17 years. All they'll offer him is a % of the extra profit they make from including this gizmo on their products for the next 17 years.
My guess is that they won't offer more than 5% of their net increased profit. If they sell 1 million trashcans with this gizmo, and the company gets $5 more on each retail sale, that's
$5 million more the company gets.
If it costs them, say, $1 in extra expenses per unit, that's
$1 million more in expenses.
Subtract the two, and the gross net increase in profits is
$4 million. And if he gets 5% of that, well, that's only
$200,000. Plus his lawyer is gonna get a cut of that.

These numbers are iffy and speculative, but it seems that your relative is counting his eggs before they're hatched . . .

[gixxerboy1]

He will get a nice check. But not enough for that home and to retire.