“Cool” Inventions

1. “Cool” Inventions By: Rachel Sevcik KourtneyRaby Ellie Colt

2. Hair Growing Lotion • Invented by: Madam C.J. Walker • Idea: When Walker was in her thirties she started suffering with hair loss. She started thinking about how she could grow it back. She thought of the formula in a dream. • “Coolness”: If you were struggling from hair loss, you could use this to help grow your hair back faster.

3. Hair Growing Lotion • Money: when she started by just selling things out of her house she was making ten dollars a day. • Her product become very popular with African American men and women. • Invented in 1905.

4. Permanent Waving Machine • The product was the first permanent hair curler invented by Marjorie Joyner. • Idea: she sought out a way to make hair curling faster and more efficient for Black women. • Invented in 1926 and patented in 1928 (she was the first Black woman to receive a patent).

5. Permanent Waving Machine • It is a cool invention because it allowed curls to stay in a women’s hair for days at a time. • Money: the curler was very successful, but Marjorie did not receive any of the proceeds of her inventions because the patents were created by Madame Walker's company.

6. Barbie • Invented by Ruth Handler in 1959 • Idea: She thought of it when her daughter was playing with little paper dolls to acting out the future. So instead, she made a doll of the present, so her daughter could use dolls appropriately.

7. Barbie • “Coolness”: little girls (and even boys) everywhere use it, also they are named after Ruth’s children. • How much money its made so far $1,000,000,000

8. Peanut Butter • Invented by George Washington Carver in 1898. • Idea: Carver had invented a way to harvest a big amount of peanuts. However, later on so many peanuts were harvested, that they began to rot in the overflowing warehouses. • So he began to experiment with the peanuts, and soon invented peanut butter.

9. Peanut Butter • Peanut butter is “cool” because it is delicious and you can eat it with many different foods. • Money: Peanut butter has made a lot of money with the multiple companies it is associated with such as: Jif, Smuckers, Skippy, and Reese’s.

10. Water Gun • Invented by Lonnie G. Johnson in 1988. • He got the idea by fooling around with the sink thinking of what he could do with water pressure. Then, he made a nozzle for the sink in and it shot water across the whole room

11. Water Gun • Money: It has been a very successful product. Kids everywhere use them in pools, at the beach, etc. • “Coolness”: It is cool because it’s a playful toy you can play with in the summer that can cool you down and be fun!

12. Velocipede • Invented by M.A. Cherry in 1888. • The riding device was very successful, and later evolved into the bicycle or the tricycle. • It was invented because people needed a quicker way to get around that wasn’t walking.

13. Blue Jeans • Invented by Levi Strauss in 1853. • Why the inventor thought of it because he was camping and didn’t have pants strong enough to wear so he made the very first pair of blue jeans • It’s cool because they match everything. • Money: Strauss created a huge and successful industry.

14. Colt Revolver • Invented by Samuel Colt in 1836. • Idea: Before the Colt revolver ; only one and two-barrel flintlock pistols had been invented for hand held use.

15. Colt Revolver • This is a “cool” invention because it revolutionized revolvers and guns from that era. Also, Samuel Colt is Ellie’s ancestor. • Money: After his death, Colt’s family received around 200,000 dollars a year.

16. Light Bulb • Invented by Thomas Edison in 1879. • Idea: He wanted to create a workable electric light system that would replace candles and gaslight. • It is cool because it offers light and warmth in the dark. • The money made for this invention is huge because people will always need to use the light bulb.

17. Crayola Crayons • Invented by Edwin Binney and C. Harold Smith in 1903. • Idea: They owned a company that began producing slate pencils for schools. Later inventing the more efficient Crayon. • It’s cool because it’s a great coloring device and easy to clean off.

18. The Almighty Tri-Vehicle Use: This vehicle transports people on water, in the air, and on the road. It is a combination of a boat, car, and plane. Cost: This new vehicle costs $1,000,000. Target market: The upper class, or big transporting companies such as Delta.

19. S Corporations • They are an ownership structure that limits its number of owners to 100. • They are only taxed once and they do not have to go through the double taxing. • They can take advantage of the legal advantages that are given to a business with a corporate structure.

20. Advantages to a S Corporation • No Corporate Tax • Reduce Taxable Gains • Write off Start-up Losses • Liability Protection

21. Disadvantages to a S Corporation • Limited to 35 shareholders • Can only use domestic capitalization • Shareholders pay taxes on all profits in the year earned, whether or not they are distributed. • Generally must operate on a calendar year

22. To become a S Corporation • They must be elected. • They must turn in a form to the Internal Revenue Service. • It has to be signed by all shareholders and turned it by the 15th of march of the tax year when the corporations are elected or chosen to have the benefits of an S corporation. • Must be a domestic company within any US state

23. Examples of an S Corporation • MERIDIAN DEVELOPMENT, INC • MILITARY WRAPS, INC. • SIGNET TECHNOLOGIES, INC.

24. Sources • http://www.blackinventor.com/pages/marjorie-joyner.html • http://inventors.about.com/od/bstartinventions/a/The-History-Of-Barbie-Dolls.htm • http://www.blackinventor.com/pages/george-washington-carver.html • http://www.blackinventor.com/pages/macherry.html • http://inventors.about.com/od/famousinventors/a/american_invent.htm • http://www.blackfacts.com/fact/31e4c115-d270-4b6a-b37c-3bc3227a2f3a • http://www.women-inventors.com/Women-Inventors.asp • http://www.150.si.edu/150trav/remember/amerinv.htm • http://inventors.about.com/od/sstartinventors/a/Levi_Strauss.htm • http://inventors.about.com/od/cstartinventions/a/crayons.htm • http://inventors.about.com/library/inventors/bledison.htm • http://inventors.about.com/gi/dynamic/offsite.htm?site=http://web.mit.edu/invent/iow/johnson.html • http://inventors.about.com/od/wstartinventors/a/MadameWalker.htm • http://inventors.about.com/library/inventors/blsoaker.htm • http://www.notablebiographies.com/Tu-We/Walker-Madame-C-J.html