Invent-Tech receiving serious interest in sporting goods accessory…
August 11th, 2006
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with an update to wrap up what has been a very busy and productive week.
We have been communicating with a leading sporting goods manufacturer regarding a baseball instructional accessory for a couple of weeks now, and their interest appears to be advancing to an even more serious level. In fact, we had already reported on this same situation during a July 12th entry (”Invent-Tech successfully closes out Day 1 of ASI Show; potential licensing scenarios developing back in the office”…). The Manufacturer Response Team representative that is handling the situation, along with the inventor himself, have been answering questions for the manufacturer regarding various aspects of the product and the company has also been doing its own independent research.
Within the last 24 hours, they have reached the point of proposing a royalty percentage to the inventor, and we have also been ironing out other terms of a potential licensing agreement. While we certainly do not know whether this will culminate in another successful licensing situation for Invent-Tech and the inventor, we are encouraged by the progress that seems to be taking place.
We also are encouraged by the previous history we have with this company, as they are the same manufacturer that licensed the Tennis Pro Power Server from the Invent-Tech roster back in 2005.
Join us next week, as we continue to work on multiple licensing scenarios on behalf of Invent-Tech clients. Check back frequently for updates!
Entry Filed under: Licensing News, The Invention Hub, Invent-Tech News
1 Comment Add your own
1. The Invent-Tech Network &&hellip | August 15th, 2006 at 2:22 pm
[…] The second licensing scenario today involves a product that we have discussed in this space on several occasions, most recently in an August 11th entry (” Invent-Tech receiving serious interest in sporting goods accessory…“). As we had reported in that day’s posting, we appeared to be in an advanced stage of negotiation with the prospective licensee, as even a royalty rate had been proposed. The Manufacturer Response Team representative handling the situation checked in with his contact at the company and was informed that he had already sent off the signed agreement draft in the mail a couple of days ago. Because we do not yet have a fully executed agreement we are not at liberty to reveal additional details, but we will be doing so as soon as the formality of obtaining the inventor’s signature is completed. […]
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