Newspaper article THE JOURNAL RECORD

Addison: Perspiration More 'Involved' Than Inspiration / in Inventing Business

Newspaper article THE JOURNAL RECORD

Addison: Perspiration More 'Involved' Than Inspiration / in Inventing Business

Article excerpt

TULSA - The business of inventing is ``a tough racket'' that has a lot more to do with perspiration than inspiration, according to Ken Addison of Sand Springs, president of the Oklahoma Inventors Congress.

Still, the 22-year-old group is expanding and the state is getting into the act with a program intended to help hatch ideas into full-fledged, job-producing products.

The Oklahoma Inventors Assistance Act passed by the Oklahoma Legislature in May is an innovative program of counseling and tax credits that could make Oklahoma ``a mecca for inventors,'' said Michael Tharp, finance specialist with the Oklahoma Department of Commerce.

``The idea is to take an idea from the idea stage to commercial product development,'' Tharp said.

For a $100 fee, an inventor who has filed a simple disclosure document registering his idea with the U.S. Patent Office can have his invention evaluated. The best ideas will be promoted to manufacturers by the state.

``Inventors typically are not strong on business acumen,'' Tharp said. ``The state is not in the inventing business. We are strong on business acumen.''

The manufacturer of the new product gets an abatement of state income tax for seven years. The inventor pays to the state 7.5 percent of what he receives from the commercial development of his idea.

``The idea is not just for Oklahoma inventors, but nationally and internationally,'' Tharp said. ``This is a brand new baby. I believe that this is the only program (of its type) in the nation.''

Tharp said the program is still being designed but should be available to inventors and manufacturers soon.

Since 1966, state inventors have been meeting to share problems, discuss patent laws and provide encouragement for each other's ideas. …

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