Widget (law)
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Widgets is a term for a product that doesn't exist. It's a popular term used by businessmen, lawyers, educations and newspapermen when discussing marketing or manufacturing concepts. "Suppose you started a business which manufactured, say, widgets. The first thing your widget company would need is a..."
The term "widget" was created by George J.W. Goodman in his book (and later his film) "The Wheeler Dealers". A key plot point of the story revolved around business executive Molly Thatcher's desperate need to unload shares of an obscure company, Universal Widgets. The company hadn't manufactured anything of value in decades and was rightfully considered worthless. However, Molly's situation improved when a newspaper article declared that widgets were essential for the space race. The newspaper intended to write that midgets were needed (the limited work area inside rockets mandated small hands) but a typo turned the word into "widgets."
