Hello Friend,

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Deal making is already starting to pay off for me... (investment field report)

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Master Don Juan
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I'm on the brink of acquiring my first real ASSET, with the possibility of getting my second right along with it.

I recently formed a partnership to get 50% ownership on one potential patent, and I'm currently working on getting at least 25% ownership on a second idea that my partner has. The first idea is mine to begin with-- my partner just tweaked it and adapted it to be more marketable.

I actually set up the situation quite well-- my partner does research and testing, I do development. My partner is a teacher, and since both concepts that we are trying to patent deal with educational materials, I have the opportunity to test the materials as I create them. The first test run was a resounding success, and we got tons of research feedback for practically free b/c my partner tested my invention on her students. Tommorrow (9/9/05) we will begin the second trial of the product, complete with changes I implemented after taking the results from the first test into consideration.

I can't be too specific about the concepts we are trying to patent until the patent is actually granted, but it is to be published in book form. Since I provided the original concept for one of the patents in question, My task is to create the printed materials in exchange for 50% of the profits. Not bad, considering that it cost me zero in cash to get in, and I get 50% of the royalty checks and other proceeds. I would have liked to have 100% of the patent, but its worth splitting b/c my partner has the means to test it, whereas I don't, and my partner has contacts that I don't have.

anyway, I just wanted to share what I've been up to. Intellectual property investments are not quite as profitable as real estate in the short term, but I sure can't complain about having 50% ownership over a unique idea that can be used in schools everywhere with my invention getting 100% of the market share for the next 20 years and get 50% of the royalty checks for a very long time after that.
 
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STR8UP

Master Don Juan
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You are definitely on the right track, BUT REMEMBER.....

Your future is dependent upon the way you handle the outcome of this!

I doesn't sound like you have much financial risk, that is a bonus. But you are wanting to make this something that generates wealth for you, so if it turns out that it doesn't produce the results MAKE SURE you at least learn from your mistakes and use this knowledge in the future. Poor people think that a setback is the end of the world. Rich people know that there is opportunity in EVERYTHING (especially what others consider to be "failures").

Believe it or not, the WORST day of my life was also the BEST day of my life. I didn't realize it at the time, of course. But as time progressed I can see that it was a turning point for me that allowed me to look at things more objectively and pushed me into new realms of possibility.

I can also remember stumbling upon one of my first of many "WOW, I had no idea!" moments when I was first starting out.

I had started a service business and needed insurance for my vehicle. Since I was very young at the time my auto insurance was ridiculously high. I inquired about commercial auto insurance, and believe it or not it was MUCH cheaper and provided better coverage than a personal policy! It seems that age isn't a factor with insurance companies if you are in business (at least it wasn't back then).

That business turned out to be a "failure" in the sense that I got tired of the dirty and backbreaking work and sold the equipment for less than my initial investment. It ultimately was a SUCCESS because I learned valuable lessons that I use to this day.

It's all in how you look at things.
 
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