Invent-Tech’s assistance in the licensing of trademark shows that product commercialization can take different forms…

March 9th, 2006

Good afternoon, Juan C. Blanco checking in once again with the details regarding the very latest licensing news from Invent-Tech. We received copies of a signed licensing agreement just yesterday afternoon from a manufacturer in the hardware products industry for an invention, but this particular situation was a bit different than what we are accustomed to.

In this particular scenario, the manufacturer was interested in the name that the inventor had given his design instead of the design itself. Discussions were conducted between Invent-Tech, the inventor, and the company regarding their interest. A consensus was finally reached that the company would  pay a royalty to the inventor for the sale of each unit of a product of their own design bearing the name the inventor had given his product.

This is a perfect illustration of how both Invent-Tech and inventors have to keep an open and flexible mind when it comes to the ultimate goal of achieving a level of commercial success with a product idea. In this case the inventor was not deterred by the fact that the company was only interested in the name, and as a result, he can potentially profit for the next several years by granting these rights to them.

Entry Filed under: Licensing News, Invent-Tech News