ECONOMICS
PROPERTY RIGHTS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mr. Hunt
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Ms. Mary Anderson
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Ms. Miriam Benjamin
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Mr. John J Loud
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Detailed explanation-1: -The first patent for a ballpoint pen was issued on 30 October 1888 to John J. Loud, who was attempting to make a writing instrument that would be able to write “on rough surfaces-such as wood, coarse wrapping-paper, and other articles” which fountain pens could not.
Detailed explanation-2: -An American, John J Loud, received the first patent for a ballpoint pen back in 1888. Loud, a lawyer and occasional inventor, wanted an ink pen which would be able to write on rougher materials such as wood and leather as well as paper. His masterstroke was the revolving steel ball, which was held in place by a socket.
Detailed explanation-3: -John J. Loud was an American leather tanner and a Harvard graduate. After becoming frustrated with fountain pens’ inability to mark up leather, he decided to take the matter into his own hands. In October of 1888, Loud filed a patent with the U.S. Patent Office for a “pen” (pictured here).
Detailed explanation-4: -Loud invented and obtained a patent for what is considered to be the first ballpoint pen in 1888; however, his invention was not commercialized and the patent would eventually lapse. The modern ballpoint pen would be patented later in 1938 by László Bíró, 22 years after Loud’s death.
Detailed explanation-5: -The Hungarian brothers, Laszlo and George Biro, made the first ball point pen in 1894. It followed the first workable fountain pen which was invented by L.E. Waterman in 1884.