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238 PROMOTION [Bk. II
an "impractical genius." Almost invariably he overestimates
the importance of his invention and through long study or
brooding magnifies its social significance. The successful promoter,
on the other hand, is first of all a man of great common
sense. He is worldly wise in that he has a broad background
of experience culled from many failures and perhaps a few
successes. He can apply rigid tests to the enthusiasm of the
inventor. He can probably set values on the invention in terms
of the cold facts of costs and the inflexible law of supply and
demand, for he well knows that many excellent inventions are
worthless from the business point of view because of prohibitive
costs of production or restricted demand. In isolated
cases where the invention is some simple "lucky idea," an inventor
may play the part of the promoter and exploit his invention
through a company which he himself organizes; but the
psychological characteristics of the inventor and of the man
who can transform the invention into a business are so different
that they are not ordinarily found combined in the same
personality.
Promotion of an Invention.—When a new invention is
presented to a promoter, the first matter that he must attend
to is that of patents."^ No business can be based on an invention,
discovery, or even a "trade-mark" unless it may be pro-c
Much has been written concerning the promotion of companies intended
to exploit a new invention. The best general discussion is a very
readable book by Conynglon, Hugh R., Financing an Enterprise (1921).
At the time of the exploitation of the vacuum bottle there was no
fundamental basic patent, and as soon as one company had made a market
for the goods, competitors sprang up who could sell goods that were identical
in all respects except name. As the original company had made the
mistake of fixing the retail prices too high, the competitors secured a wide
market and liberal profits by selling what was in truth "the same thing" at
a distinctly lower level of price. Many instructive anecdotes of a similar
nature are given in Rowell, G. P., Forty Years an Advertising Agent.
A number of accounts have been written covering the promotions of
highly speculative companies organized to exploit a new invention. See the
excellent discussion under captions: "Investigation of Speculative Enterprises,"
"Investigation of Speculative Enterprises-Inventions," "Necessity
and Methods of Protection," "Monopolies," "Patents," "Trade-Marks,
Trade-Names and Copyrights," and "Protecting a Process," in Conyngton,
Hugh R., Financing an Enterprise, Chaps, XII-XVIII (1921) ; see also
Conyngton, Hugh R., Corporation Procedure, Chaps. XIX-XX.
Beschrijving voorwerp
| Titel | The financial policy of corporations |
| Auteur | Dewing, Arthur Stone |
| Jaartal | 1926 |
| Collectienaam | NIVRA Historisch Archief, UBVU gedigitaliseerd |
| PPN | 344552586 |
| Toegangsgegevens (URL) | http://imagebase.ubvu.vu.nl/getobj.php?ppn=344552586 |
| Signatuur origineel | NIVRAHA149 |
| Evaluatie |
Beschrijving
| Titel | NIVRAHA149_00262 |
| Transcript | 238 PROMOTION [Bk. II an "impractical genius." Almost invariably he overestimates the importance of his invention and through long study or brooding magnifies its social significance. The successful promoter, on the other hand, is first of all a man of great common sense. He is worldly wise in that he has a broad background of experience culled from many failures and perhaps a few successes. He can apply rigid tests to the enthusiasm of the inventor. He can probably set values on the invention in terms of the cold facts of costs and the inflexible law of supply and demand, for he well knows that many excellent inventions are worthless from the business point of view because of prohibitive costs of production or restricted demand. In isolated cases where the invention is some simple "lucky idea," an inventor may play the part of the promoter and exploit his invention through a company which he himself organizes; but the psychological characteristics of the inventor and of the man who can transform the invention into a business are so different that they are not ordinarily found combined in the same personality. Promotion of an Invention.—When a new invention is presented to a promoter, the first matter that he must attend to is that of patents."^ No business can be based on an invention, discovery, or even a "trade-mark" unless it may be pro-c Much has been written concerning the promotion of companies intended to exploit a new invention. The best general discussion is a very readable book by Conynglon, Hugh R., Financing an Enterprise (1921). At the time of the exploitation of the vacuum bottle there was no fundamental basic patent, and as soon as one company had made a market for the goods, competitors sprang up who could sell goods that were identical in all respects except name. As the original company had made the mistake of fixing the retail prices too high, the competitors secured a wide market and liberal profits by selling what was in truth "the same thing" at a distinctly lower level of price. Many instructive anecdotes of a similar nature are given in Rowell, G. P., Forty Years an Advertising Agent. A number of accounts have been written covering the promotions of highly speculative companies organized to exploit a new invention. See the excellent discussion under captions: "Investigation of Speculative Enterprises," "Investigation of Speculative Enterprises-Inventions," "Necessity and Methods of Protection," "Monopolies," "Patents," "Trade-Marks, Trade-Names and Copyrights," and "Protecting a Process," in Conyngton, Hugh R., Financing an Enterprise, Chaps, XII-XVIII (1921) ; see also Conyngton, Hugh R., Corporation Procedure, Chaps. XIX-XX. |
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