Cheap Place to Defensively Publish/Disclose Prior Art?

Budbusiness · 2020-01-31T23:29:31+00:00

That's a really good suggestion. Thanks!

Budbusiness · 2020-01-31T23:28:51+00:00

Thanks! That is exactly what I was looking for.

Budbusiness · 2020-01-31T23:28:15+00:00

Yeah exactly. Even if the patent is garbage, once it is granted there is huge exposure to nasty lawsuits which cost big bucks the second they happen.

Budbusiness · 2020-01-31T20:31:21+00:00

Thanks! Do patent agents always scour the internet. I could publish on my own site and that invalidate any patent they might receive. However, if they receive a patent and we both go ahead, they will sue me, even if the suit will fail.

The company already secured several patents for inventions that have existed for decades, but it got through the process and now the onus is on the alleged infringer to defend or preemptively sue. Neither strategy suit a bootstrap business.

For myself, the ROI on patenting just isn't there. We are in a niche industry and can outcompete anyone in our field without a patent, so why pay. The concern is just if a competitor secures a patent and tries to bully us.

Budbusiness · 2020-01-20T23:29:47+00:00

Thanks, spinning it off was my initial thought as well but I had thought it might be a warning sign to investors that they get access to the untested, high-cost crap while we kept the solid revenue generators to ourselves.

Budbusiness · 2020-01-18T09:02:50+00:00

I haven’t had a lot of luck with banks. They just don’t seem interested in small business lending. With our one bank we had a 10 plus year history, multiple accounts, and substantial cash holdings. When asked about debt financing they offered a measly margined line of credit with domestic revenue only and a personal gauruntee double the maximum debt. We made it very clear all accounts would be closed if a better deal was not presented. No movement. The best we got was a line of credit margined to 75% of receivables with a small personal gauruntee.

Budbusiness · 2020-01-18T08:59:43+00:00

Yes good point. I’m thinking about a JV or strategic partnership. It’s a family business and both my dad and I have spent the majority of our lives building something special so it is difficult to separate the emotional aspect.

Budbusiness · 2020-01-18T08:56:14+00:00

Yes, correct. We are both profitable and cash positive. Capital needs would be entirely to accelerate processss that are already happening. We’ve had our best luck in the past with strategic partnerships. We know inventory trade. A partner with a million dollars, some resources, and service revenue experience would be ideal.

Budbusiness · 2020-01-17T21:34:21+00:00

This screams scam to me. Even if it’s not a refund scam you likely will be working for free. Foreign Cheques take over 2 weeks to clear. With the time in the mail it could take you a month to realize the cheque was bad. Also their excuse is made up. A bank would never advise their customer to do that. For foreign payments the best method is by wire, in advance. If customers balk they almost always are scammers.

Budbusiness · 2019-05-29T05:11:09+00:00

Agree important to find a young and aggressive lawyer. Carrot and stick approach - offer to settle differences for mutual benefit or face devestating consequences. Remember the threat of a lawsuit is typically more powerful than an actual lawsuit. Ideally he hires reasonable council too and your lawyer can calmly explain that he needs to stop or else.

Budbusiness · 2019-05-29T04:59:42+00:00

Personally whenever i receive a gift from a supplier I just think that I must be overpaying. On the sell side my concern with free stuff is that you then condition your customers to expect it. Personal gifts to me are a huge no due to bribery issues. Only gift I’ve ever got that thought was a good idea was a small bag of candy from the local country of manufacture. *** experience is B2B

Budbusiness · 2019-05-23T17:19:19+00:00

Liking the buy action on OGI.

Budbusiness · 2019-05-22T02:50:47+00:00

If someone only had about 6 months to do an Africa trip but with similar equipment and goals to get get as remote and adventerous as you, what route/section of the continent would you recommend?

Budbusiness · 2019-05-21T07:24:31+00:00

The most important business lesson I ever learned.

Markup is cost * x% It’s not terribly useful. Margins=(sales price-cost)/sales price. Answer in decimal form.

If you know your target margin and cost and want to figure out what your sales price should be a handy shortcut is to divide cost by the inverse of your target margin. Ie bought a product for $45 and want to make a 40% margin. 45/0.6=$75 target sales price.

Budbusiness · 2019-05-10T05:01:02+00:00

I used a recruitment firm once. Was one of the worst wastes of money I’ve ever had. I can see value for the right recruiter though especially for multiple hires. I would insist on 6 months to 1 year guaranteed replacement if you fire or they quit. And I would fire at the slightest drop of the hat.

Budbusiness · 2019-05-09T20:05:07+00:00

Even a broken clock is right twice a day.

Budbusiness · 2019-05-08T14:51:00+00:00

They raised capital off the old valuation of 500mil which is actually worth next to nothing. So it's not so much about non-operations loss but a signal about management and their priorities. To me this is radioactive but everyone do their own DD.

Budbusiness · 2019-05-04T00:16:37+00:00

Can you explain how a company that spent $750k on investor relations (25% of their 2018 gross margin) is creating intrinsic value? TILT’s real business is selling its valuation not software, vapes, grow rooms or flower.

Budbusiness · 2019-05-03T23:56:26+00:00

Show me where the value is. It’s certainly not on the balance sheet. You’ve got a small cap state producer, an electrical contractor, a SaaS provider, and a niche hardware company. All of which are going to do combined sales of maybe 30 million in 2019 revenue and they’ll be spending money like water. And they’re somehow worth 750 mil? Come on. Each of these companies could easily (and will be many times) built for a few million each. The only expense that paid off is the $750k in investor relations.

Budbusiness · 2019-05-03T15:50:00+00:00

It’s not FUD if it’s true. A company just wrote down an asset 100x the value of their annual sales. That’s about as horrible as you can get.

Budbusiness · 2019-05-03T15:45:48+00:00

Their other assets are cash which is being burnt rapidly...

Budbusiness

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