Invent-Tech receives exciting news on several product ideas…

July 19th, 2006

Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in after a very productive and exciting Wednesday for the Manufacturer Response Team. Not only did we make progress on product ideas that we are actively marketing for inventors, but we also received positive news on two previously licensed items.

To begin with, a Manufacturer Response Team representative who has been monitoring the advanced level of interest being shown by a company in a household decorative accessory received an e-mail update from the manufacturer today. They stated in their correspondence that they are going to be exploring production quotes overseas for the invention in conjunction with an importer they do business with. As always, this will be done under a confidentiality agreement. We certainly hope that their research into various aspects of the product idea proves to be positive and that we have this scenario culminate in a licensing agreement. As always, we will keep you updated on the Invent-Tech Network.

Additionally, this same Manufacturer Response Team representative also conducted a conference call today between an inventor and a manufacturer to discuss the company’s interest in the home furniture accessory the inventor has developed. We expect to secure the company’s advanced level of interest in this project over the next few days, and they will proceed with discussing the item under confidentiality with some of the buyers they frequently do business with. This is another potential licensing situation that we will certainly be following on an ongoing basis and reporting on here on the Invent-Tech Network.

Finally, another one of our Manufacturer Response Team representatives received a telephone update today from the licensee of the Bag Rack and Rear View Mirror. According to the licensee, he is expecting his first order for the Bag Rack, one which he is estimating will be for several thousand units. Additionally, he stated that he is negotiating a possible television infomercial opportunity for the Rear View Mirror invention. We are certainly encouraged by what appears to be very positive news regarding two of our most recently licensed items.

As the various examples described in today’s entry illustrate, licensing and product commercialization in general is never a “one size fits all” type of scenario. A variety of factors go into a company’s decision to license a product in the first place, and even more  play into how, if, and when a product actually makes it to the consumer market.

Entry Filed under: Licensing News, Invent-Tech News