Invent-Tech successfully closes out Day 1 of ASI Show; potential licensing scenarios developing back in the office…

July 12th, 2006

Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with our final update from the first day of the ASI Show Chicago 2006. We experienced an eventful and productive first day of this exhibit. Traffic at the Invent-Tech booth was strong until the final minutes of today’s show, and we hope that the momentum will carry over into tomorrow.

We were able to garner positive results in Chicago even as we kept close tabs through our colleagues back in the office in Coral Gables on a couple of potential licensing scenarios.

The first is a situation that we have reported on previously here on the Invent-Tech Network regarding the possible licensing of a hunting accessory, most recently in a June 1st entry (”Invent-Tech secures advanced level of interest in holiday accessory; licensing discussions continue on hunting product“). A Manufacturer’s Response Team representative back at our offices received an e-mail today from the manufacturer stating that their attorneys had accepted the majority of changes we had proposed to their draft of a licensing agreement. While a couple of more points of negotation still remain to be resolved, it appears that we are inching closer to the successful culmination of this potential licensing scenario.

The second case began to develop today, when we heard back through e-mail from a manufacturer of sporting goods products that has already licensed one previous item from Invent-Tech, the Tennis Pro Power Server, in 2005. They had just received the detailed package of information we’d sent them on a baseball accessory, and they appear to be very interested in potentially taking the item on. However, they will be performing some research over the next several weeks that will allow them to eventually reach a long-term decision on the invention.

Check back with the Invent-Tech Network tomorrow as we bring you all of the news on developments from Day 2 of the ASI Show, as well as any information on potential licensing scenarios being worked on by Manufacturer Response Team representatives back at the office.

Entry Filed under: Licensing News, Trade Show Buzz, Invent-Tech News