The Life and Times of James Watt

In 1769, Bolton invested 1,000 pounds into the business in exchange for one-third of the rights to the patent. He convinced Watt to relocate to Birmingham and set up shop next to his own metalworks. They would only manufacture a few pieces of the steam engine and sell them in a kit with other necessary components. And they'd charge a royalty for using this patented technology. The firm would need until 1800 just to break even on all the investments so far.