Manufacturer and Invent-Tech strengthen relationship with 3rd licensing agreement

July 5th, 2006

A strengthening relationship between Invent-Tech and a manufacturer of a wide range of consumer goods, as well as an ingenious new product idea, have resulted in a licensing agreement for an Invent-Tech client team. This agreement is the third reached between Invent-Tech clients and this particular company, and the second successful negotiation with this company in June 2006.

Jeremy H. and Timothy H. of New Jersey invented the Um Pack to offer an array of convenient features for active individuals at an affordable price. Its unique design allows users to easily carry this device anywhere. It is capable of carrying multiple items and accommodates all consumers, especially those with a busy lifestyle. School-age consumers will find this product highly efficient and functional, and will soon turn it into a must-have accessory.

The manufacturer was impressed with the product concept upon first review. After researching the production costs involved and market potential of the Um Pack, they chose to pursue a potentially lucrative multi-year agreement that includes a competitive royalty rate compared to current rates being paid in the industry for the inventor.

As this licensee continues to receive regular updates through our Innovation Direct™ manufacturer subscription service, we expect their continued interest in our product roster. We are appreciative of their interest and efforts on our inventors’ behalf and wish them continued success in further product development.

Additional information about the Um Pack or any of our other licensed products may be obtained by contacting Invent-Tech® at (800) 940-9020, extension 2280 or at mrt@invent-tech.com.

Entry Filed under: Licensing News