Category: patent

A teenager, Peter Roberts invented a quick-release ratchet. He sold his patent to Sears for $10,000 who said that the invention was not worth very much and then went on to make $44 million selling the ratchet. He sued them for fraud and was awarded $1 million.

Photo :  Gars129 / wikimedia

A teenager, Peter Roberts invented a quick-release ratchet. He sold his patent to Sears for $10,000 who said that the invention was not worth very much and then went on to make $44 million selling the ratchet. He sued them for fraud and was awarded $1 million.

Photo :  Gars129 / wikimedia

The inventor of the fidget spinner surrendered the patent in 2005 because she could not afford the $400 fee to renew the patent.