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"Henry Woodward of Toronto, who along with Matthew Evans patented a light bulb in 1875. Unfortunately, the two entrepreneurs could not raise the financing to commercialize their invention. The enterprising American Thomas Edison, who had been working on the same idea, bought the rights to their patent. Capital was not a problem for Edison: he had the backing of a syndicate of industrial interests with $50,000 to invest - a sizable sum at the time.