Posts Tagged: "road to riches"

There are many different reasons why building a better mouse-trap is only the first of many steps on the road to financial freedom. First, there is no guarantee of financial success given by any patent office in the world. This is true even if you have a strong patent that covers a great product that enjoys robust consumer demand. Unfortunately, many inventors operate under the misunderstanding that getting a patent is like owning Boardwalk and Park Place in the popular board game MONOPOLY. The truth is that turning an invention into cash is much more complicated than simply placing hotels on Boardwalk and Park Place. Yes, a patent is an essential ingredient because without one you have no right to exclude competitors from engaging in competitive activities, but you must treat inventing as a business if you want to truly be successful.