FIRST: That the said William Franklin for and in consideration of the payment of $1000 by the said George Wilson will pay to the said George Wilson 5 per cent. of all net receipts accruing in any manner from the sale or working of the said invention and patent during the term of its life.
SECOND: That the said George Wilson shall pay to the said William Franklin the sum of $1000 which shall be applied to the making of a model of the said invention and to securing a letters patent of the United States for the same.
It is understood and agreed that this instrument shall bind the parties hereto, their heirs, executors, administrators, successor or successors or assigns.
IN WITNESS WHEREOF, the parties hereto have hereunto interchangedly set their hands and seals the day and year first above written.
IN THE PRESENCE OF
Charles Howard
as to the Inventor.
John D. Prentiss
as to George Wilson.
William Franklin [L. S.]
George Wilson [L. S.]
About an Interest in a Patent.—There is a big difference between assigning an interest in your invention and assigning an interest in your patent.