Human Powered Vehicle Design Contest

The Mission of MIDLTD

Mission Vision

The Limitede Partnership

A New Idea

A new idea to facilitate product development for today’s inventors and entrepreneurs, a structure to compensate for the failure of the venture capitalists, to create enterprises worthy of the time an effort of the participants whereby creating a sustaining, enduring, value that can be past on to future generations. A failure that questions not just the values and goals of venture capitalists but the structure as a whole.

I don’t pretend to know what responsibilities that venture capitalist have to society. But they are afforded privileges that are somewhat exclusively restricted from the general investment community. These rights with other business and government entities were established in the 1930’s as a response to the stock market crash and the resultant depression. These realities with other business needs are what help formed the new business an economic structures that became the backbone of economic development for the United States.

These privileges were granted with the understanding that venture capitalists held a more sophisticated comprehension of startups and the associated risks involved thereby removing part of the risk to the general investor protecting the investment community from unscrupulous business ventures.

Unfortunately the evidence in the recent dot com bubble diabolical indicates that these privileges don’t guarantee proper capital management. Or investment decisions that create sustaining employment and value to society. It begs the question of relying on the VC’s historical role in guiding and nurturing the economic growth of societies investment future.

Add to that the recent undermining of patient law protections perpetrated by Ron Brown and the secretary of the patient office under the Clinton administration. The constant tweaking of tax laws, the mountains of regulations, the wholesale exporting of American jobs out of the country and the need for a new economic structure to facilitate product and job development become painfully evident. Although everyone may not observe a totally clear and coherent picture of our current situation it seems obvious just on face value that the process of job creation and product development have been shortchanged. Resulting in a devaluation of the investment of time and resources that we have allocated for the growth of wealth and prosperity for the future of our society.

Today’s entrepreneur needs a new economic structure to deal with the risks and inertia inherent in the business environment. A structure that can protect the inventor’s ideas and the small investor, at the same time open the door for small investors to the huge rewards that have been excusive to VC’s. This new relationship will protect the small investor while circumventing VC’s monopoly on risk management of start up ventures.

This new structure should facilitate several main goals for society.

• Maximize idea development to a marketable product
• Create new jobs thus increasing tax revenue
• Sharing the tremendous royalties of the inventors and entrepreneur with the small risk takers in society supporting these concerns

Likewise the opportunities develop by the Limitede Partnerships will create new demand for VC’s still playing their historical role encouraging and supporting sustainable value relationships in the new industrial and economic revolution.

In conclusion the goals of the Limitede Partnership are to redefine the relationship between the investor, the inventor/entrepreneur and the venture capitalist. With this new relationship established the Limitede Partnership would open up resources to a previously disenfranchised segment of society. It will bring together like-minded small investors and inventors into a partnership that will shares 90% of the royalties with the partnership and afford access to the product development resources of the partnership. Creating a network of individuals that can share the work and the rewards of product development and marketing.

One might think that there are plenty of entities to enable the development of ideas to the market place. The truth is the state and federal money earmark for product development goes to large companies that have the expertise to apply for technological development funding. Also the funding is governed by current government policy. For example if you were working on a device that helps facilitate home land security your odds of finding funding would improve because your project would be in line with current government guide lines. If your project doesn’t fall into the current guide lines or you don’t have the resources or expertise to apply for these funds your odds move into the next to zero category. The other options offered through private development sources are more focused on financing their own efforts to take an inventors idea to a patentable stage. Where the inventor is still responsible for patient and attorney expenses. With no guarantee of patient ability or if there is even a market for the idea. All the inventor gets for ten thousand dollars is a disclosure statement some art work the promise of exposure at trade shows and a monthly payment plan.

Fortunately the limited partnership of Middleton Industrial Design hasn’t waited for business or government to address these issues. By incorporating the appropriate set of by laws for the partnership the founder, Randall B Middleton established a self-sustaining entity whose soul purpose is bring new ideas to the market place. This is accomplished by limiting ownership to one share per member and share 90 percent of the royalties of Mr. Middleton’s intellectual property with the partnership. This unique approach will establish a new era in product development by coupling creative individuals to the cutting edge of product and market research.

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