ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Hunt received a patent for his dress pins on April 10, 1849 and sold its rights for just $400 off his own volition. The money helped him repay his debt, even though it was only a minute fraction of the substantial fortune that his invention created.

Detailed explanation-2: -Mechanic and independent inventor Walter Hunt secured a place in American history when he invented the useful, everyday device known as the safety pin in 1849.

Detailed explanation-3: -Walter Hunt was pacing the floor, worried about how to pay a debt and put food on the family table. He went to his workshop, picked up an eight-inch-long brass wire and nervously twisted it around his finger when an idea struck. The idea became Patent No.

Detailed explanation-4: -For emergency clothing malfunctions, this handy invention is still unsurpassed. In 1849 US mechanic Walter Hunt filed a patent for ‘a pin made of one piece of wire or metal combining a spring, and clasp or catch’.