All You Must Know About Invention Funds And Loans - 3 Ideas

Inventors and businesses work together in most instances

. Inventors are typically people who are not extremely cash-rich. But to develop their inventions and make them work, they will of course need funds. The industry is interested here, because they know that the invention could help them later. So industry and the inventor get into an agreement. The business transfers funds to an inventor, with the agreement that the business will get the exclusive right once it is developed. That's your invention fund.

*Of course, in some other countries, there is another type of invention fund. These funds are held by the government. Money is released much as a grant to encourage inventors to carry on their good work. It is a fact that inventions play a key role in taking us ahead. And so, these encouragements are really valuable. Many inventors have been able to carry their work forward because of these grants.

*Remember one more thing. Inventors are not always individuals. Many corporations have their own R&D division that is responsible for constantly trying to come up with a new solution or a better solution to an existing product. So, these cells of departments could also be termed as inventors. The company will have some money earmarked in its annual budget for this division. This is the company's invention fund. Just take a closer look at some of the recipients of invention funds.

*You will definitely find many small or medium businesses that deal in solar and wind power, bio-fuels, geothermal power and natural gas related industries that have gained from this. Businesses that are working on reducing emissions such as CO2, florinated gas, methane and other toxic gases must do a lot of research. So their R&D departments always need these funds. Industries that deal with biotechnology, air purification, green chemistry, waste management, sustainable agricultural process and energy, also need these funds.

What are Invention Loans?

Loans, as the name suggest, is not a grant. It is a cash advance that has to be repaid after the term is over. Loans are offered to inventors just like for any other purpose. Here the inventor will use the money to develop the invention, and once it is ready, the right to use it is given to a business in exchange of money. The inventor can pay back the loan with this money. Some inventors prefer this because it gives them the freedom of not staying committed to any one particular corporation.

by: Kevin Wolfe

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