Just found this tidbit in the biography of the first patent commissioner Henry Ellsworth:
“Acting as Patent Commissioner, Ellsworth made a decision that profoundly affected the future of Hartford and Connecticut. The young Samuel Colt was struggling to establish a firm to manufacture his new revolver. Ellsworth became interested in Colt’s invention, and in 1836 made the decision to issue Colt U.S. Patent No. 138. On the basis of Ellsworth’s decision, Colt was able to raise some $200,000 from investors to incorporate the Patent Arms Manufacturing Company of Paterson, New Jersey, the forerunner of the mighty Colt arms manufacturing empire.”
Just found this tidbit in the biography of the first patent commissioner Henry Ellsworth:
“Acting as Patent Commissioner, Ellsworth made a decision that profoundly affected the future of Hartford and Connecticut. The young Samuel Colt was struggling to establish a firm to manufacture his new revolver. Ellsworth became interested in Colt’s invention, and in 1836 made the decision to issue Colt U.S. Patent No. 138. On the basis of Ellsworth’s decision, Colt was able to raise some $200,000 from investors to incorporate the Patent Arms Manufacturing Company of Paterson, New Jersey, the forerunner of the mighty Colt arms manufacturing empire.”
https://en.m.wikipedia.org/wiki/Henry_Leavitt_Ellsworth
+1 for the primacy of the role of patents as an institution for attracting capital that would otherwise be impossible to attract