|
|
|
 |
FAQs |
 |
|
|
Do you enjoy being an inventor?
How has being an inventor changed your life?
What is the downside of being an inventor?
As an inventor do you have to pay tax and how does your pension work?
Do you get much financial support?
What do you think needs to be done to support independent inventors faced with litigating infringers?
How does being an inventor effect your relationships?
Do you enjoy being an inventor?
The nice thing about being an inventor is that life is never boring. Ideas niggle away inside my head compulsively - I must enjoy it, otherwise I would just let them evaporate. Because, in effect I work for myself, I can suit myself regarding how I work. So, armed with a mobile phone, notebook and pencil, I can be working whilst walking the dog, or looking around the shops. In fact, I do my best thinking at night. I think doors inside my brain open when I'm half-asleep and I can access solutions to problems that evade me during the day. People ask me if I work full time, to which the answer is - Yes, 24 hours a day, 7 days a week.
How has being an inventor changed your life?
I've been doing this for so long now that I can't remember what life was like before. The only significant change has been in my income and as yet I haven't let that change our life style. Initially, at least, we are using the money to provide well for our retirement and for some degree of financial security for our children. We have never been in a position to be frivolous with money in the past and it would be out of character to start now. However, I think we can afford to treat ourselves a little! I rather think that a luxury family holiday is on the cards for this year.
What is the downside of being an inventor?
Sometimes it can be lonely. That is one of the drawbacks of working on your own, you don't have the social aspect that the work-place normally provides. Also, working from home, it is very difficult to close the door and switch off from my work.
As an inventor do you have to pay tax and how does your pension work?
As an inventor the tax and pension systems are loaded against you. A person with a normal job receives a steady income every year and makes pension payments related to each year's income. If you are a full time independent inventor then you may spend years, whilst bringing an idea to fruition. In those years you earn next to nothing. However, when you eventually license a product or bring it to the market place, suddenly your income soars. Your income may not continue at that level so that money may have to provide for development of future ideas. Nevertheless, in that good year you have to pay a huge chunk of tax but the amount you can put into pension is capped. If it had been earned evenly over the years then overall you would have paid less tax and could have paid more into your pension. It would be so much more helpful if the system recognised the plight of the inventor. If your good year's payment could be taxed as relating to the preceding years of work and maybe providing an allowance for development of pending ideas, then the system would no longer be loaded against you. If you could back-pay money into pension as if it had been earned in those preceding years then this would in turn reduce the tax burden. I think it would be a good idea if special consideration was given to anybody whose line of work means that their income is not evenly spread but consists of occasional lump sums.
Do you get much financial support?
I think my biggest gripe is the lack of financial support for independent inventors. So many good ideas that originate in this country end up being produced abroad because, on the whole, British industry wants to be given finished product on a plate --- it has a problem in looking at the long term and investing in ideas. Government funds are available but it is practically a full time job applying for them, with no guarantee of success. Other funds are available for projects that are still in the conceptual stage where no development prototypes have been made. This strikes me as daft because no self-respecting inventor is going to apply for funding before doing some preliminary work to see if the idea can work. It's like Catch 22.
What do you think needs to be done to support independent inventors faced with litigating infringers?
There needs to be an organisation which would lend it's weight to the case so that it is no longer a David and Goliath situation, where the rich and powerful always win. If David were armed with a bazooka instead of catapult, he wouldn't have to rely on miracles. It is currently unfair that an independent inventor has to use his/her own money against a multi-national corporation. So much depends on the quality of legal representation, and big corporations employ the top people - it's not a fair fight. The multi-national corporation infringes with the certain knowledge that the independent inventor is unlikely to be able to afford to litigate. If infringement action is initiated, it is unlikely to reach the court - because of the high costs involved. Therefore, big corporations can confidently ride roughshod over intellectual property, with the foreknowledge that at worst they will have to take a license - which won't cost them very much.
How does being an inventor effect your relationships?
Family wise, everyone has been great. Nobody has ever suggested that I pack it all in and get a real job! My husband, Steven, has always had unquestioning faith in me (or, if he's had doubts he has kept them to himself! Even when I've been spending very large sums of money) I couldn't have done it without him. He has been the uncomplaining rock on which I have unloaded all my worries and insecurities. When you are working on your own, you do need to unload! Sometimes, I make a conscious effort to keep it to myself - but he always knows. Our three children have always taken great interest in my projects and I think they are quite proud of their Mum. Emily has a special involvement because she is responsible for path I have taken. However, recently when I have been going through very stressful times, I think they appreciate being away at university. My parents are the ones who have surprised me most. When the chips have been down - really down, they have been there for me with a strength that I never knew they possessed. Sometimes, I think that they do get a bit fed up with me working often at very odd hours. Their patience does wear thin when, for the third day in a row there is no food in the house. Even the dog has developed a profound, guilt-provoking look of quite resignation whilst he waits for me to finish work and take him out. |
|
|
|
|
|
