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Colt's earlier venture, the Patent Arms Manufacturing Company, had declared bankruptcy in 1842 and was no longer producing firearms, but the efficiency of the revolver design had become apparent to the U.S. Army and they sought out the young entrepreneur to produce more.
Colt's stable of double action revolvers and single action pistols were seen as old fashioned by a marketplace that was captivated by the new generation of "wondernines" - high-capacity, 9 mm caliber handguns, as typified by the GLOCK 17.
Colt suffered a stinging legal defeat in court when it sued Bushmaster for copyright infringement claiming that the "M4" in M4 Carbine was a trademark that it owned.
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