Rocket science

We have recently been instructed to act for a client who has a history of inventing various processes or products which he has developed but having got bored then sold for relatively small amounts of money. His inventions have gone on and have grown into significant companies.

Our client needs to provide for his retirement and has come up with a new gadget which would appear to have considerable potential and the plans are currently with the Patent Office. The development costs are relatively modest and we have been asked for advice on how we could best protect his interests.

We have suggested that he retains ownership of the patent and sets up a trading company to develop and sell the product. If boredom kicks in again he can sell his interest in the company but continue to draw a...