How Much Is 1/5th Of A Ball Bearing Worth?

[Steph]

Martin Christensen was in good shape in 1900 when he sold his revolutionary steel ball machine patent to the New York capitalists for $25,000. That would have given him a fairly comfortable retirement even if he hadn't started his marble company.

Plus he only sold 4/5ths of the invention.

What was the remaining 1/5 of the invention worth to him?

Did he collect royalties on ball bearing sales? or what?

[Steph]

not known?

could this be it: The New York syndicate who bought 80% of the patent would license the bearing making process for a fee to people who made ball bearings, and Martin would get a cut of what they negotiated for themselves?

[catfish]

Might get more answers on the ball bearing forum.

[Steph]

haha.

I guess I could try a patent law forum.

But Brian has usually already thought out all the MFC questions before I ask 'em. Thought he might know. Or Galen or someone else who likes historical technicalities.

[catfish]

I would imagine that retaining some share of the patent would allow him to still use it. Not sure if he would get a cut though. That kind of paperwork may be all but impossible to find.

[fndyrmrbls]

Maybe Brian has a copy of the sales agreement.

[akronmarbles]

Interesting question that I have also pondered before - no sales agreement exist that I am aware of - we did try to find out about the "capitalist" and I think came up with an East coast business - probably have some notes somewhere, but not sure where they would be at this moment.