Invent-Tech’s latest potential licensing scenarios illustrate that deals come together at their own pace…

March 29th, 2006

Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with another update. We had a busy Wednesday, as it appears that two more licensing agreements may come to fruition within the next few days. It is important to note that no two licensing scenarios are usually the same, and these most recent examples illustrate that perfectly.

In one of these cases, the company has actually been reviewing the materials we’d sent them on our client’s invention for a few months. They have been busy with constructing prototypes of the item and conducting  their overall due diligence on what the product’s potential might be. One of our Manufacturer Response Team Licensing Representatives phoned them today as part of a regularly scheduled follow-up, and they indicated they were prepared to take the next step. Our representative promptly put together a draft of a licensing agreement and had it in their hands within the hour so that they could begin their review of it.

In the second situation, the company has just very recently become familiar with the design details of the invention being considered. The inventor was able to supplement the promotional material we’ve put together with his own unique insight into his product idea, and the manufacturer is interested to the extent that they have already made a preliminary licensing offer. We now begin the process of reviewing the terms of their offer and initiating the negotiation phase.

There is certainly never a guarantee of a licensing agreement being finalized until both the inventor and manufacturer have signed the document. However, these two potentially successful scenarios serve as examples of how widely timeframes can vary on a deal coming together.

Entry Filed under: Licensing News, Invent-Tech News