Incentive for Contribution

June 20, 2006 at 10:34 pm 10 comments

My coworkers and I came up with a new technology to solve one of the current system problem and just for the heck of it, we filed a patent disclosure with our company. I just got the notice that the patent attorneys thought the technology is pretty neat, so the attorneys are going to submit this patent disclosure to the US Patent Agency (but we would need to comb through 1000+ pages of other patents to make sure our technology does not infringe onto existing patents) *WOOHOO*. 

The awesome part [for the company] is if this patent goes through, the company can use it to make millions and billions. The not so awesome part [for me] is I would be getting 0.00% of that money. Of course such arrangment would not bout well with anyone, so our company has this incentive program where if your idea can be submitted (like in our case), we get a small reward ($1,000 or so). And if the disclosure becomes a patent, we get another small rewards.

I think it is pretty neat the company has this incentive program to encourage employees to be innovative. Furthermore, I think if the company increase their incentive amount and provide employee with more opportunity (and time) to be innovative, more employees will try to be more creative with their technological approach rather than going with the traditional (heritage) route. I think this is one of  main reason that Google is doing so well. What do you think? Does your company has any incentive program?

Although I won't get rich out of this, it is still pretty cool that in a year or so, I may be able to officially call myself an Inventor.

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Entry filed under: General.

This Suit Costs $1,400 or $140… Don’t Buy a House in SoCal yet…

10 Comments Add your own

  • 1. Jeremy  |  June 21, 2006 at 12:25 am

    Way to go, don’t forget to include that on your resume!

    J

    Reply
  • 2. MoneyBabble  |  June 21, 2006 at 1:19 pm

    Good point!
    Thanks!

    Reply
  • 3. Cindy  |  June 21, 2006 at 4:46 pm

    Congrats! That’s really cool to have under your belt. So now I can say I know this inventor. =) Cool…let us know how it ends.

    Reply
  • 4. Danny  |  June 22, 2006 at 11:49 am

    hehe, fun… at least you don’t have to deal with protecting it personally…

    Reply
  • 5. Dennis T Cheung  |  July 2, 2006 at 5:02 pm

    Hopefully yours will take less time than mine to approve. Mine has been pending since 9/2002 or something.

    Reply
  • 6. Cash  |  August 22, 2006 at 12:13 pm

    as-94783-sa

    nice blog.. i ll come back again :] greets

    Reply
  • 7. Sweeet!!! « Money Babble  |  September 21, 2006 at 10:36 am

    […] My coworkers and I filed a patent a few months ago and I found this in my inbox today: […]

    Reply
  • 8. James  |  November 14, 2006 at 1:14 am

    My wife used to say that :p

    Reply
  • 9. Huan  |  December 19, 2006 at 6:42 pm

    haha great! I must show that to my friend 😀

    Reply
  • 10. Area Of Kids  |  August 16, 2007 at 3:18 pm

    Thanks for sharing this information. Really is pack with new knowledge. Keep them coming.

    Reply

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