In any event, the cost of producing the machine should not be a factor in determining the price, but the value of its product. And the cost of producing the same results by any other process, will give a very fair estimate, after taking into consideration the means of the people who have to buy it.
Generally a machine is sold outright to the consumer, but in some instances they are only rented for certain periods or volumes of production.
That has to be determined by the nature of the invention and the business to which it applies.
[ CHAPTER 6
Office Management and Business Policies]
If the inventor is unfortunate enough to be compelled to attend to his own office work, he will probably find it advantageous to observe the following rules:
Answer all letters promptly, briefly, and politely, and don't write what you feel like, as that will often get you into trouble. Don't forget to make a copy, and keep it, of every letter you send out, and file carefully all letters you receive.
If the inventor has to be his own purchasing agent, he should remember that the lowest price is not always the cheapest, and the highest price doesn't indicate that you couldn't get it any cheaper elsewhere, and as good, if not better.
Whenever possible, arrange for everything to be delivered at your place, as that throws the transit responsibility on the contractor until the goods are delivered, and your credit is also longer.
Order your goods as much ahead of time as possible as goods are very rarely delivered on the time they are promised.
Examine all goods delivered in your place as to quality and weight, and keep a careful memorandum of the same, and don't forget to check off the bills you receive for the same.