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My Patent & Product Experience
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Posted by Charlie Wolters on April 26, 2002 at 17:28:21:
Spring 1992 -- Conceived way to make pocket coin dispenser, and machined a prototype.
Fall 1992 -- Lost my job, bought injection molding machine.
1993 -- Started making molds and fixtures to mass produce products.
Summer 1994 -- Bought David Pressman’s book, “PATENT IT YOURSELF” and spent four months writing patent application.
Oct. 1994 -- Filed patent application for “Pocket Portable Coin Dispenser."
Jul. 1995 -- Filed company name "Chawly Products Company" in state of Missouri.
Aug, 1995 -- All patent drawings and all 12 claims were rejected. I called examiner, who said drawings (done by hand) should pass as they were, and he accepted my arguments after I agreed to miner technical changes in the claims.
Feb 1996 -- Patent 5,492,504 "Pocket Portable Coin Dispenser" issued with original drawings, and all 12 claims (slightly modified).
Summer1996 -- Made inventory of coin dispensers after completing molds and fixtures, and preparing my shop for production.
Fall 1996 -- Paid Kessler Corporation $700 to try to sell my patent -- they failed.
Dec. 1996 -- Bought $800 of direct mail advertising (Money Mailer) which sold $60 worth of product.
1997 -- Bought used computer, learned Windows and HTML, wrote and started Web site: http://coindispenser.com
Since then, I've learned that the only advertising I can afford is the free kind. Word-of-mouth helps a lot. One customer liked my product enough to post one free ad for me. That sold as much as Money Mailer did.
At the beginning of 2002, I got emails from four European companies who were interested in selling coin dispensers made for the new Euro coins. I never filed for patent coverage in Europe, so all I could do is sell a few dispensers to them. I guess they want to copy my product.
Media Corporation Worldwide called me two days ago, April 25, wanting to advertise my product on TV. They only want $20,000 and half the take. HA! HA! HA! I'm not that stupid (or wealthy). The only TV deal I would accept would be a commission only deal, because I was offered that once (at only 13%). The problem with that was that I'm not set up to produce products fast enough to satisfy the estimated demand.
I guess the big problem is that I'm not much of a salesman. David Pressman says that every inventor must be a salesperson. But, I have no reason to end my company, and emails like the one I got Friday, April 26, sure make me feel good about my invention. Here is what it read (except I have corrected the spelling):
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Just received two Chawly Changers yesterday. Fantastic little invention!!!!!!---- Been checking the Web ---- looks like yours is the best design of them all --- I Fancy myself a pretty clever amateur inventor and machinist, and just love to see products on the market that are really well thought out, and quality manufactured, using the right materials. Most are not. I am a gadget nut, and usually, after having received something, decide that it needs reworking to perform to my satisfaction. Not your "changer". Congratulations on a great product. The U.S. Mint should be pushing your product (they wouldn't have to punch out so many new coins every year). People usually don't want to deal with coins when they buy something (you could include me in that group also). The "Chawly Changer" could "change" that. The "Changer" has changed ME... Now if you could only come up with a similar product to hold my antacid tablets.---In awe-struck admiration, John
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So, in conclusion, if anybody out there wants one of these rare, unique dispensers, just go to
http://coindispenser.com
to order a Chawly Changer. Thanks, M Arthur Auslander for allowing me this shameful personal plug! Charlie Wolters
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