Readers please note: Please do not act on this information until this advice in blue print is removed as we need
to prepare for the event specified over the next few months and that advice herein may need to be further refined.
FTNX EXCLUSIVE PRIVATE PATENTS (FEPP)
In 1986 I had invented a raised plastic lid for taking away coffee. Instead of lodging a patent, to the patent office directly for $32.00 I had engaged the best Melbourne based lawyers to file the patent at a cost of over $2000.00. One year later I received a broad patent for my design. An impressive document with a green sash attached. I could now refer to the financial potential of such a lid. I offered the lid to a paper coffee cup manufacturer in another state who after some time decided to not to take up the patent. I got the call on my very expensive mobile phone (size of a house brick), which I have kept to this day as a reminder of what not to do next time. I put my patent away, knowing that I was fully protected (or so I thought) as I had lost focus on one venture to commence another. About six months later walking in Melbourne City I noticed a disc like bit of plastic on the footpath. The company I approached had blatantly stolen the lid I had offered, and was selling them in coffee shops. I immediately went to my patent lawyer with the discovery only to learn a very valuable lesson. The $2000.00 dollar patent I had secured was worth less that the value of toilet paper. I had a clear case with a 75% chance of winning, said one lawyer; unlike the lawyer for the manufacturer who was ready to take the matter to court. I needed to fork out $30,000 dollars to issue an injunction to shut down the factory and have the case heard immediately. I also needed another $100,000.00 should I win on where the respondent appeals the decision.The price of a house could be purchased at this time for $30,000.00 now serves perspective what the lawyer was asking me to consider. I was disgusted and I was mad as hell, but I could not afford to spend $150,000 to defend that which is already mine. Had this event happened today, I would have shut down their factory first thing on a Monday morning and I would have won the case eyes wired shut. 350 million lids in Australia alone at 2 cents a share for myself, would have earned me a fortune for the life of the patent (16 years).It came to light that I could have made the lids myself in my garage at little expense. Sure others would have copied me eventually; nevertheless being first in any worthy venture is what consumers remember the most.
FTNX IS NOW OFFERING FEPP
PCT’S had asked me to demonstrate how the lesson served in our doctrine of trade can be used in other internationally inspired type of business application suited for intermediary use; FEPP will serve such a demonstration. Anyone worldwide who has a viable commercial good idea may now post their idea on the FTNX site page in the manner prescribed for a small yearly fee. In the manner ‘prescribed’ is a very specific in meaning. The idea or invention must already be made as is proven to work, no matter how rough the prototype is; the claims made by the inventor must be demonstrated as workable model. A check sheet and registration form will be made available in August 2022. What is stated herein is offered in short form only - assume there is much more to know before you lodge your ‘patent’ with FTNX.
- This means that not all applicants will be accepted for FEPP listing as a very limited avenue is open.
- The inventor must describe what their invention does in a very simple but exact manner without describing or revealing how it works
- Inventions carrying design feature alone cannot be offered, nor can admixtures and the likes. Only unique operational inventions or a better superior products that already exist may be offered.
- Example : The inventor is claiming to have made a round waterproof ’Solar Ball’ not bigger than a tennis ball that is able to produce more electricity on a sunny day, than a large 120 watt flat solar panel could do. He claims no rare earths are used and that everything to make the tennis ball sized contraption is easily sourced and has no nuclear properties.He has further claimed that his invention cost him only US$ 20.00 dollars or less to make using components purchased at retail prices, at time of construction.
- In our example, the inventor must have a working model of the claim being made. If it's bigger than a tennis ball, the claims made has failed. If batteries are used in the claims made has failed. If lets say i.e: Thulium is used, the claim has failed etc.etc. The exact nature of what is being described must be disclosed intently, but not how the product works which remains a secret, even from the FEPP administrator FTNX,.
- The inventor MUST describe what their invention does precisely in the shortest clearest manner possible and must show on paper, practicable real world application of such.
- With the invention in hand, the Inventor asks for a registration form. It fills in the details. Pays the lodgement fee (i.e: US$60.00 per year for one listing; discount applies for more listings) and returns it to FTNX.
- If accepted FEPP will be lodged within a week on the FTNX FEPP site pages. If not, registration lodgement fee will not be withdrawn and an email will be advised why FEPP registration was refused( we allow one chance to change it if need be)
- What Happens Next: This is where the added unique feature of our service comes into effect. IF ANYONE WORLDWIDE IS INTERESTED IN A LISTED invention, THEY MUST CONTACT FTNX and not the inventor to commence purchase negotiations.
- The FEPP displayed online will have an inventors I.D number and nothing more. Potential buyer must negotiate with FTNX. This aspect protects the investors from those people around the world whose intentions are anything but honourable.
- If the price offered on the FEPP is negotiated and the buyer wants to see the operational product a deposit is paid.
- The Inventor is notified by FTNX to ‘make ready’ for a demonstration in i.e lets say 2 weeks at a certain time. They will be given a set of instructions and who will turn up for the test run.
- The purchaser may not lift or touch the invention or use any form of device to scan it, and may with others witness its claimed performance.
- If the performance claimed is verified, the buyer MUST now purchase the product by signing an online agreement at time of witnessing as does the inventor (and his team)
- Funds are paid to FTNX, as attested by its top 50 ranked bank ( a receipt is served) the product now belongs to the buyer.
- If the buyer reneges or fails to turn up on the agreed upon place they lose the deposit which in part as per commission rate stated is paid to the inventor.
- For a buyer to turn up at the inventor's place means that the claims made need to only be satisfied to test the purchase intent.
- The buyer is a willing to buy such invention form FTNX via the inventor by simply turning up on the arranged test run data at the address stipulated.
- FTNX will take up to 12% or less as a commission for its complex closing service and remit the final balance on the same day to the inventor. This is important because FTNX trained USCT member may actually find a buyer for listed FEPP product in where such members are also entitled to a share of said commission payment from FTNX
- No circumvention, no rip off, no patents for all to see in advance is served. Evidence of when the product was lodged with FTNX serves to verify is standing ownership of the workable idea.
- If someone lodges a patent with a government office claiming that the product is theirs ( and issues suit) the suit can only be issued against FTNX who ‘sold such a workable product’ therefore it is very important that the product offered was conceived from the mind of the inventor. FTNX considers ‘buying’ the product is the legal aspect (when in fact FTNX is simply flipping the product to a new ‘owner’ as a full assignment)
The Inventor MUST not
- Have a government or any other exclusive patent already lodged which reveals how a device works unless some aspect of its initial features have been changed. I.e: the model in the patent office has no light whereas the new model has 3 lights and an added switch…etc.
- Disclose to anyone on the operational details of their invention while the FEPP is in force (while listed), but the inventor may make the same claims made on the FEPP and direct potential buyers to the FEPP site.
- The inventor must not lie or tell untruths about the product. If the inventor sell the invention on their own (allowed to try) with no help from FTNX or its members, while FEPP is in effect, no charges apply and listing will be cancelled.
- If Inventor asks for listing to be deleted, all attachments with FTNX and FEPP is a cancelled at such a time. No refund of lodgement fee is served. This now means the inventor has the freedom to source their own buyer.
- Change the description for the life of listing but may update it features any time . Our experience and advice served on such matters is done to benefit the inventor and should be observed.
- The Inventor may apply an asking price; which FTNX is allowed to suggest a higher or a lower price - which the discretion of the inventor applies as the final ruling.
- FTNX becomes the principal and partner of the inventor and as such must discuss any offer (and any changes sought) with the inventor before accepting it.
- A workable prototype no matter how ‘rough’ it is must be already included in hand, before FEPP listing occurs. The inventor must not simply offer an ‘ unproven or theoretical Idea.’
- The Inventor MUST not check online to see if their product exists - as many suspect entities are tracking then stealing ‘ideas’ and claiming them as their own with having an operative model.
- Any inventor from any country may lodge a FEPP with FTNX including those inventors from countries bearing sanctions in USA, England or Australia in where a different agreement and procedures with FTNX will need to be signed with such inventors with a FTNX agent in their Country to receive the same service.
- FTNX has discretion of accepting or rejecting any FEPP listing . Once lodgement fee is collected by FTNX, FEPP listing is said to be accepted. Renewal notice one only 1 month before due date for those intending to re-list.
Having good experience, means a great deal in any business practice being applied. Lets say I wanted to sell a fast food restaurant taking $10,000 dollars per week, operating day time business hours Monday to Friday for $450,000.00 ( as happened.) The added potential here is that the business could further open weekends and evenings, which in effect adds a higher value to the offer price. However to the family oriented person who wants to spend time with the family, the operational aspect of a 5 day week also offers and added attractive potential to the value of the business, as many similar businesses cannot operate and survive on a ‘lunchtime’ trade alone. To sell such a business to a ‘buyer’ with good intent, a claim is made as to actual minimum gross weekly takings being generated as an average weekly taking , as opposed what’s declared as net takings as recorded under taxation records. For the buyer to have the right to see what such gross takings are and to observe the behind the scene ‘confidential nature’ of the operation; an offer needs to be accepted, and subsequent agreement needs to be signed to which a deposit is then paid. In doing as much, the buyer is allowed behind the scene for the agreed upon trial period of lets say two weeks ( usual). If the CLAIM made by thew seller about the takings have been verified by the buyer, ( who counts sales/ money in cash registers daily and signs to confirm accordingly) the BUYER must take the business and pay the outstanding balance. If the takings are under, the buyer has the right to renegotiate the buy price or walk away from the deal , with no loss of deposit. If the buyer decides to change its mind, even though takings exceeded the amount claimed; and not make the purchase after seeing the confidential nature of operations, the buyer will lose the deposit and could even face further legal action. Whether its a Restaurant , Car maker or even an IT business like Twitter being sold under an IPO , the basis of most business sales are based on the premise above as it relates to declared takings; albeit even though such a premise has in some cases an inherited flawed basis (i.e: What if I get large number of family members to secretly buy lunch every day just to ensure claimed takings are achieved etc.etc.) FEPP aspect works on the same premise. A claim is made. If the claim is proven , the buyer after paying a deposit MUST buy the invention. Failure to do so, means loss of deposit and even further legal action could prevail. FEPP therefore is a very serious application , for this reason only very special or unique inventions will be listed. The inventor lists it product as an undisclosed principal, who is represented by FTNX. This aspect ensure that nobody is able to by pass our demands and procedures protecting the rights of the inventor, in what could turn out to become complex matters, more so when very high sell price is sought.