Invent-Tech secures advanced level of interest in diving accessory; positive news received on yet another previously licensed product…

July 20th, 2006

Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with an evening update. Today’s theme can be summed up as “more of the same” when compared to yesterday, which is actually quite a positive development. Much like on Wednesday, the Manufacturer Response Team was able to secure an advanced level of interest on another product idea, and also received what could be considered a very optimistic update from the licensee of a previously licensed invention.

For starters, the advanced level of interest in the diving accessory we allude to in today’s headline came about as a direct result of a Manufacturer Response Team representative carrying out an essential part of his job in textbook fashion. The representative had sent a company that specializes in diving products and accessories the detailed design information on the invention at the beginning of this week after they had signed a non-disclosure agreement. The company’s representative promptly called in the same day he received the package and had an extensive conversation with the Manufacturer Response Team representative about the invention, as well as the overall goal of licensing that both the inventor and Invent-Tech have for the item. As a result of the information and comfort level the company representative obtained from the conversation, he opted to put his interest in writing earlier today, even including a note thanking Invent-Tech for their detailed explanation of the entire licensing process yesterday.

The manufacturer now plans to produce some samples of the item and test them as the next step. As always, we will keep you posted on any developments with this situation, right here on the Invent-Tech Network.

This scenario clearly helps to illustrate the impact that the methods and materials utilized by Invent-Tech in presenting inventors’ design information have on companies. Additonally, it serves as an example of the leverage inventors gain when they contract Invent-Tech to represent them in all aspects of attempting to license their product idea.

The good news on a previously licensed product meanwhile, came in the form of an e-mail and telephone communication that we had with one of the principals of the company who licensed the IDDO Back Support invention back in September 2005. We actually reported on this item achieving patent pending status with the USPTO back in an April 13th entry (”Two previously licensed Invent-Tech client inventions achieve patent pending status with USPTO…“). The company reported that they are in the final stages of the initial product run of the item, and that they have also completed all of the artwork for the packaging of the product. They have obtained feedback from a mid-size chain of hardware stores on the West Coast that has been quite positive, so much so that they have come to an agreement with the retailer on a promotion to test market the item this fall in several of their locations.

As we’ve said on numerous occasions in this space, the path a licensed product takes to the consumer market can often be a very deliberate one, and one that doesn’t always result in commercial success for the product. Although the fate of a product idea is out of Invent-Tech’s hands once a licensing agreement is signed, we nevertheless always hold out hope for eventual commercial success for each and every one of the inventions that reach this highly coveted phase! 

Entry Filed under: Licensing News, The Invention Hub, Invent-Tech News