[The Age of Invention by Holland Thompson]@TWC D-Link book
The Age of Invention

CHAPTER IX
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He made a similar agreement for the same sum offered him for the patent of the electro-motograph.

He did not realize that these installments were only simple interest upon the sums due him.

These agreements are typical of Edison's commercial sense in the early years of his career as an inventor.

He worked only upon inventions for which there was a possible commercial demand and sold them for a trifle to get the money to meet the pay rolls of his different shops.

Later the inventor learned wisdom and associated with himself keen business men to their common profit.
* Hendrick, "The Age of Big Business".
Edison set up his laboratories and factories at Menlo Park, New Jersey, in 1876, and it was there that he invented the phonograph, for which he received the first patent in 1878.


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