E-Pen:Write on paper & Store on drive

About: When I note done some of my important meetings notes on a piece of paper or notepad, I always think of some miracle device that will convert/move the hard copy of my notes on paper to an electronic file, so that I can save that file in my laptop/desktop for further use.
You would think of an idea to scan it and store it as an image in my pc/laptop, right? or you might be thinking that am too lazy to type this notes directly on my laptop notepad/wordpad later?

I know you are in touch with latest technologies so you will suggest for "Stylus" pen, but wait it works only over another supporting device a Specific Mouse Pad like device.

I think about a device "Pen", which I can use to write on a paper having "ball-point or Ink" in it, meanwhile it should have some internal mechanism that will store the character while writing on a paper or normal notepad.

How: This pen should have a "compass" like device to sense the direction & distance in which it moves, and store this data in pieces say "a char", then this char should be stored multiple times as I writes a whole sentences.
We can use some memory chip to store this data and finally it could be copied from this pen device to my laptop/pc as a stream of data into a file(.txt).

Internal: Say for example to type/draw A now assuming that your compass is showing north to your sitting position, then when you write A, the pen direction goes toward North-East then South-East (remember don't pick the pen point else you will reset the information) go half back in the Nouth-West direction and then West. See your Char "A" is ready now.
Procedure to write would be very straight if you are writing a char like S,L,I,O etc, however for other you would need little practice, thats it you are master in "E-Pen"
The direction as well as distance information will work on mathematical "X,Y" coordinate system transforming user perspective to a device coordinate system with the help of built in compass. This information could be stored for every character you type/write on a paper, and finally when you want to import it in to your laptop/pc file this data will be processed to form a useful word then to sentence and into a electronic file.

Continued......