ership shall exist between the patentee and the
assignee of an undivided interest, and that the profits arising from the
invention shall be equitable, for their joint benefit, there must be an
express agreement between them to that effect, otherwise the assignee
will have a decided advantage over the inventor, if he is inclined to be
dishonorable, and there are numerous cases on record where patentees
have virtually lost their patents by such assignments. Patentees should
especially guard against strangers who offer to purchase an undivided
interest in their patents.

[Sidenote: A Better Plan.]

A better procedure to secure means necessary for the development,
introduction, and sale of an invention is to borrow the money from a
friend contingent on the sale of the patent, sell a State or county
right, or enter into a contract with a party willing to furnish the
means for a certain proportion of the proceeds derived from the
invention. Generally speaking, it will not be hard to find a party
willing to advance sufficient means to promote an invention which is
protected by a patent for a certain percentage of the net receipts
arising from its manufacture, sale, or territorial grants, and the
patentee will probably find a person among his own acquaintances who
will not only be glad to furnish the means necessary, but also be of
value to the patentee in realizing from his invention. In any case,
whatever is agreed upon should be put in the form of a contract, or an
agreement, couched in such terms as will leave no doubt as to the
understanding between the parties. The following form secures both
parties, and will be suggestive of others:

[Sidenote: Form of Agreement.]

_Whereas_ I, Richard Doe, of Philadelphia, County of
Philadelphia, and State of Pennsylvania, have invented
certain new and useful improvements in Telegraph Keys, for
which I have obtained Letters Patent of the United States,
bearing date January 1, 1901, and number 000,000, and
whereas John Roe, of Camden, County of Camden, and State of
New Jersey, is desirous of obtaining an interest in the net
profits arising from the sale or working of the said
invention covered by the said Letters Patent.

Now, therefore, this indenture witnesseth, that for and in
consideration of one dollar by each of the parties hereto
paid to the other, the receipt of which is hereby
acknowledged, it is stipulated and agreed as follows:

First, T