Aeronautics -- United States -- Biography; Wright, Orville, 1871-1948; Wright, Wilbur, 1867-1912
In 1914, Orville Wright had bought the stock of all other shareholders
in The Wright Co., except that of his friend, Robert J. Collier, who,
for sentimental reason, wished to retain his interest. Orville’s motive
in acquiring almost complete ownership of the company had been as a
step toward getting entirely out of business. Both he and Wilbur Wright
had agreed to stay with the company for a period of years, not yet
expired, and he could not honorably dispose of his own holdings so long
as those with whom he had made the agreement were still in the company.
But almost immediately after buying the shares of the others, he let it
be known that he might be willing to sell his entire interest. To this,
Collier, the only other shareholder, agreed. In 1915, Orville received
an offer and gave an option to a small group of eastern capitalists
that included William Boyce Thompson and Frank Manville, the latter
president of the Johns-Manville Co. The deal was closed in October,
1915.
Just after Orville had given his option to the eastern syndicate,
Robert J. Collier came to tell him an important piece of news, and to
urge him not to sell just yet.
Collier had been having some talks with his friend, the wealthy Harry
Payne Whitney, and had urged upon him the idea of doing what Collier
thought would be a wonderful piece of philanthropy that would mean
much for the future of aviation in the United States. What Collier
wanted him to do was to buy the stock of The Wright Co., thus gaining
ownership of the Wright patents, and then immediately make the patents
free to anyone in the United States who wished to manufacture airplanes.
Whitney was willing to carry out the Collier suggestion. To do so he
was also ready to pay more for the stock of The Wright Co. than the
syndicate had offered.
But Orville explained to Collier that the option already given was
legally drawn and the holders presumably wished to exercise it.
Collier’s daring idea and Whitney’s generous acceptance of it had come
just a little too late.
XVIII
PATENT SUITS
The Wrights had found that patents covering the basic features of
their invention were not enough protection against infringers. Indeed,
having the technical details on file in the Patent Office, where anyone
who desired might see them, was, in a way, to the advantage of those
who would help themselves to an inventor’s work and ideas. Only a
decision in the courts could determine the justice of an inventor’s
claims. But the courts work slowly and legal procedure is expensive.
Except for their good fortune--never contemplated when they started--in
realizing substantial sums from their invention, the brothers might
not have been financially able to carry on the fight that finally gave
them world-wide recognition as the first to contrive a successful
flying-machine.
Public-domain text, read in full here on John Shaqi.
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