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What if you have something, that is worth a million bucks?
Posted on 10/24/14 at 12:35 am
Posted on 10/24/14 at 12:35 am
You have already had offers, you wanted to hold on to it, but the big offers require you to give up all credit. It has consumed a huge part of your life, do you take the money, and give it up?
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Posted on 10/24/14 at 12:37 am to auggie
Take the money. Life is worth living. A million dollars helps you do that.
Posted on 10/24/14 at 12:41 am to TeLeFaWx
I sure wish I can keep some credit.
Posted on 10/24/14 at 12:41 am to TeLeFaWx
depends on how the value holds with the item. If its property you need to learn about the differences in hard and soft money, real estate markets etc.
This question is not answerable in its current form.
if its causing you a bunch of stress and consuming your life though...I'd probably sell it.
This question is not answerable in its current form.
if its causing you a bunch of stress and consuming your life though...I'd probably sell it.
Posted on 10/24/14 at 12:47 am to Ishmael
It is a unique piece of mental property, nobody knows all of it but me.
Posted on 10/24/14 at 12:50 am to auggie
ahhhh I've dealt with this recently. If it can't be monetized sell it because there's no guarantee that someone won't straight up find a way to steal it...or come up with it themselves.
try to get royalties if you can. even 2% is good depending on what it is.
try to get royalties if you can. even 2% is good depending on what it is.
Posted on 10/24/14 at 1:03 am to Ishmael
The royalties are actually what I want, but so far, just have offers to buy it outright. That tells me, that I have nailed it, and I shouldn't give it up altogether,but I need money for something really important.I mean REALLY IMPORTANT.
At least certain people will know it is really mine. Is that enough?
At least certain people will know it is really mine. Is that enough?
Posted on 10/24/14 at 1:09 am to auggie
quote:
It is a unique piece of mental property, nobody knows all of it but me.
Then take monetary value for it. IF you can leverage your unique position for future monetary value, do it, but otherwise, maximization and utilization of such things takes a third party. Take the money. Invest half of it. shite. Half a mil in a steady yielding stock for ten years is great. Play with the other half.
Posted on 10/24/14 at 1:19 am to TeLeFaWx
That's probably the most level headed advice I have so far.
My brother is telling me not to sell, because he has an idea how much work was involved.
My brother is telling me not to sell, because he has an idea how much work was involved.
Posted on 10/24/14 at 1:24 am to auggie
quote:
At least certain people will know it is really mine. Is that enough?
Make a wikipedia article about it. Then everyone will know.
Posted on 10/24/14 at 1:25 am to auggie
quote:
My brother is telling me not to sell, because he has an idea how much work was involved.
Value isn't actualized in the past. You don't pay Kobe $25 mil a year for winning a few titles ten years ago.
Posted on 10/24/14 at 3:12 am to TeLeFaWx
Or go on Shark Tank and pitch the idea, then sell it. That way everyone knows it was yours 
But seriously, what Fawx is saying is the same advice I'd give. The longer you sit on it, the more likely someone else will come up with the same or better idea. Cash out while you can. If royalties mean that much to you (so that your name is always associated with "it"), then cut out a chunk of the million offered for 1-2%. If they want it bad enough, they'll accept your counter.
If you do go on Shark Tank, kick Mark Cuban in the grundle.
ETA: Get some type of representation (lawyer or whatever) if you haven't already.
But seriously, what Fawx is saying is the same advice I'd give. The longer you sit on it, the more likely someone else will come up with the same or better idea. Cash out while you can. If royalties mean that much to you (so that your name is always associated with "it"), then cut out a chunk of the million offered for 1-2%. If they want it bad enough, they'll accept your counter.
If you do go on Shark Tank, kick Mark Cuban in the grundle.
ETA: Get some type of representation (lawyer or whatever) if you haven't already.
This post was edited on 10/24/14 at 3:14 am
Posted on 10/24/14 at 5:13 am to auggie
3 words... Patent fricking lawyer. Protect your intellectual property, whatever it may be. It'd be downright impossible to not get credit this way, it probably gives you bargaining leverage as well.
Posted on 10/24/14 at 8:12 am to auggie
You are mixing emotions with business. If it's the cure for cancer I could see why you want some credit. But if it's a new version of a shake weight, who cares?
In the end it's all about the numbers not the pat on the back.
Go watch the movie about the guy that invented the intermittent wiper. He needed a class in ROI vs Pat on the back.
In the end it's all about the numbers not the pat on the back.
Go watch the movie about the guy that invented the intermittent wiper. He needed a class in ROI vs Pat on the back.
Posted on 10/24/14 at 8:21 am to auggie
Just use the asset as collateral and borrow the money that you need and pay it back later.
Posted on 10/24/14 at 8:26 am to auggie
Go talk to a lawyer. Not a bunch of people on the Off Topic Board.
Posted on 10/24/14 at 8:27 am to auggie
Take it to a pawn shop. Theyll estimate the value at around a million then, offer you 2000 for it and convince you theyll have to restock it, and itll just sit there blah blah blah
Posted on 10/24/14 at 8:39 am to auggie
Royalties are the key. A million goes by quicker than you'll think. If you do take the million, play with 100,000 and bank the rest in the market on a high yield dividend fund; you can live off the monthly dividend.
Get a lawyer as well.
Credit is nice but it can't buy bread.
Get a lawyer as well.
Credit is nice but it can't buy bread.
This post was edited on 10/24/14 at 8:50 am
Posted on 10/24/14 at 9:35 am to TeLeFaWx
quote:Half is all he'll have after paying taxes.
Take the money. Invest half of it. shite. Half a mil in a steady yielding stock for ten years is great. Play with the other half.
Posted on 10/24/14 at 11:50 am to arcalades
quote:
Half is all he'll have after paying taxes.
if he's a moron. Pretty sure there are some legitimate ways to dodge capital gains tax.
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