I would be a serial entrepreneur except:
- I generate too many great business concepts and create new devices at such a quick rate that I wouldn’t do justice to the business. Position as the Founder / Chair I could do. Limited to strictly one idea / concept for 3 years? Eeeee I would be dead before I could work my way through my innovations!
- Taxes – The IRS’s IRC Title 26 Section 1235 allows royalties or the payment for assignment of a patent to be taxed at the same rate as capital gains. For those who only claim income from such their effective Federal tax rate is ZERO.
- Hum work 80 hours a week as the CEO to generate $8mil in income or receive $5mil in royalties for the equivalent $ in the bank after taxes? Even better is when you have 3 such royalty streams. $8mil working or $15mil from licensing/assignments and have time for more innovation? What if the revenue streams kept coming?