Archive for August, 2006
Good day, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a quick early update. We have received an e-mail updating us on the status of the potential hunting accessory licensing agreement that we have reported on several times in this space over the last few months, most recently in a July 12th entry (”Invent-Tech successfully closes out Day 1 of ASI Show; potential licensing scenarios developing back in the office…“).
The manufacturer stated that their attorneys have proposed a couple of more changes to the licensing agreement draft we’d sent them, and we will have an opportunity to review these in a few days. We are not yet sure about the nature of the requested modifications, but we are certainly optimistic that they will not be problematic. As always, we will continue to update you on any developments with this situation here on the Invent-Tech Network.
This scenario continues to serve as a good example of how involved and deliberate a licensing negotiation can be. The decision to license a product is certainly a very important one for a company, and is treated as such. Having the experience and knowledge of Invent-Tech on one’s side as an inventor in these types of situations can certainly pay dividends when all is said and done!
August 31st, 2006
Good afternoon, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a Wednesday afternoon update. With Tropical Storm Ernesto thankfully turning out to be rather punchless, it allowed us to get back into the office by midday today to resume normal operations.
The Manufacturer Response Team hit the ground running with a previously scheduled conference call with the manufacturer that is very interested in potentially licensing a beverage accessory from the Invent-Tech roster, a situation that we reported on most recently in an August 24th entry (”Invent-Tech inches closer to potential licensing of beverage accessory…“). The call today was between the Manufacturer Response Team representative who has been managing the interest from this company, the manufacturer representative, and one of the artists from our Visual Design Department. Today’s call not only focused on the company’s continued interest in the product, but also on their various ideas for a design for the packaging of the item. In our ongoing quest to assist in whatever ways are possible to help products get licensed, the artist from our Visual Design Department will be producing some sample artwork for the manufacturer to consider for the packaging.
It is important to note that this request for assistance came directly from the manufacturer, and it is a very good example of Invent-Tech’s willingness and dedication to attempt to help all the inventions on our roster reach the ultimate goal of a licensing agreement.
Today’s conversation also included an update from the manufacturer’s representative on their progress toward making a final decision on the invention. They are now at the stage where they are apparently putting final touches on the tooling for the product in their overseas factory.
We hope to soon be able to report that this has all culminated in the signing of yet another licensing agreement. Stay tuned to the Invent-Tech Network for updates!
August 30th, 2006
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in on a wet and windy Tuesday evening in Southern Florida. Although we experienced an abbreviated workday today due to the impending threat of Tropical Storm Ernesto, the Manufacturer Response Team managed to secure an advanced level of interest in an interior auto accessory before heading for cover.
The seed for this company’s interest was actually planted earlier in the month. After having signed a non-disclosure agreement on the invention in early August, the manufacturer had discussed the product and Invent-Tech’s ultimate goal of a licensing agreement with one of our Manufacturer Response Team representatives on August 15th. After deriving a degree of confidence and comfort with Invent-Tech and the product, the company went ahead and opted to put their interest in writing this week.
They will now use the next several weeks to explore the product’s potential in depth. We certainly hope they will eventually reach a conclusion that they will want to enter into a licensing agreement, but only time will tell.
Join us tomorrow, as it appears we will be back in our offices at some point during the business day to resume our successful efforts on behalf of Invent-Tech clients!
August 29th, 2006
For those who do not know, Invent-Tech is located in Coral Gables, Florida, in the heart of Miami. Last year, Invent-Tech’s offices were closed for a week in the aftermath of category 3 storm, Hurricane Wilma, as were nearly all businesses in the area due to extensive power outages and debris-littered streets.
Although some had learned valuable lessons from the devastation of Hurricane Katrina, too many people still did not take the hurricane threat seriously. Many households were ill-prepared for the extended impact of the storm, resulting in huge lines for basics such as food, water, ice and gasoline. Hopefully, the active 2004 and 2005 hurricane seasons have now taught the importance of never underestimating the destructive potential of any hurricane, and preparing homes and supplies in the face of a hurricane threat.
Our community is currently responding the threat of Tropical Storm Ernesto, which is forecast to reach hurricane force wind speeds before it makes landfall somewhere on the Florida peninsula on the eve of the first anniversary of Hurricane Katrina. A few Invent-Tech clients, many of whom lived through hurricanes themselves, have created potentially lifesaving provisions to help individuals face an impending hurricane.
The Hurricane Survival Kit, invented by Robert G. of Florida, provides critical supplies for emergency situations. It ensures that consumers are prepared with survival needs during and after a hurricane, earthquake, tsunami, tornado, power outage or similar circumstance.
Any household, business or organization could benefit from the enhanced preparedness afforded by the Hurricane Survival Kit. Featuring a design that adapts to any consumer need, this product has the priceless potential to save lives once made available through safety product suppliers and retailers.
Hurricane/Security Blinds, invented by Tina C. of Florida, provide year-round security against building intrusion as well as extreme weather conditions like hurricanes. As opposed to existing weather protection methods, which are only used when necessary and, therefore, require repeated installation and removal, Hurricane/Security Blinds are always available, providing added protection in the case of a security threat.
This innovation will appeal to consumers of hurricane protection or security products for its dual-purpose benefits and incredible conveniences. With one-time installation and continual, effective function, Hurricane/Security Blinds should have no trouble tapping into new residential and commercial construction as well as safety and security improvement projects.
With any type of storm, there is always the potential for trees to become deadly weapons against both people and property. Many have found this out the hard way—after their homes or cars have been severely damaged or after having suffered personal injury or the death of a loved one.
The Tree Hugger has been developed by inventor Timothy R. of Florida as a simple yet effective solution to this dangerous problem. Timothy began to conceive the idea in 2004 while huddled in his laundry room, enduring the effects of Hurricane Jeanne. The invention’s unique design ensures that trees are adequately reinforced, thereby helping to prevent them from blowing over and causing significant damage. It provides peace of mind and is easy to install and use.
Timothy has developed a working prototype that is available for review under the appropriate terms and conditions of confidentiality.
Katrina’s Escape, invented by Phillip B. of North Carolina, enables individuals to escape their homes in the case of an emergency. The need for this product was made clear during the tragedy surrounding Hurricane Katrina in August of 2005.
Simple application of Katrina’s Escape could save lives, demonstrating undeniable value and advantages to every consumer. Whether they live in regions threatened by hurricanes and floods, or seek added security during a fire or home invasion, this innovation offers users safe escape.
Bentley has developed a prototype of Katrina’s Escape, which is available for review under the appropriate terms and conditions of confidentiality.
We have introduced just a few of the valuable innovations our clients have created to respond to dangerous weather conditions, such as hurricanes. Additional information about the Hurricane Survival Kit, Hurricane/Security Blinds, Tree Hugger, Katrina’s Escape or other products Invent-Tech represents may be obtained by contacting the Publicity/Press Department of Invent-Tech at (800) 940-9020 ext. 2285 or at products@invent-tech.com. Invent-Tech® is a Coral Gables, Florida-based firm that is handling the publicity and public relations for these innovations.
August 28th, 2006
Good afternoon, Invent-Tech’s Sr. Technical Writer back with our continuing series about Invent-Tech’s departments. In our last entries focusing on Invent-Tech’s Compliance & Quality Assurance department (posted June 7, 2006 and June 14, 2006), we discussed our company’s commitment to supporting individual inventors in their search for a company to license their product. Deeply ingrained in this commitment is our effort to ensure that all inventors fully understand what they can and cannot expect from Invent-Tech. These efforts are supported by the knowledgeable guidance of a client’s New Project Director (NPD), and reinforced by a series of checks and balances including our Affirmative Disclosure Statement, Inventor Assistance Authorization Form, and Inventor Assistance Quality Assurance Questionnaire.
Each and every inventor inevitably holds high expectations for their ideas. Nearly all inventors operate under the belief that their product is undoubtedly destined for market success and manufacturers would be foolish not to create it. But the factors involved in a manufacturer’s decision to license and produce an invention are far more complex than simply seeing a great idea, producing it and putting it on the shelves.
Prior to investing the requisite time and resources into a project, manufacturers must carefully evaluate the product’s fit into their current product line; the existing consumer market; actual costs, which include overhead, materials, labor, etc.; profit potential; probable distribution channels; and numerous other considerations not always obvious to those unfamiliar with the process of commercializing new products. Moreover, the public must still then buy the product before anyone makes any profit. As common sense would dictate, it is impossible to tell whether a product will or will not “make it” in the marketplace. Who would have ever predicted success for the originator of the Pet Rock? Essentially, that product is a rock in a cardboard box! Ultimately, success for an invention is determined by many myriad factors besides just having a “great idea”.
For these reasons, Invent-Tech can never guarantee the success of a new product idea. This is communicated by the NPD, and the client demonstrates their understanding with documents like the Affirmative Disclosure Statement and Inventor Assistance Authorization Form.
Invent-Tech is in business to assist inventors in contacting industry with professionally produced marketing materials, and then facilitating the negotiation of licensing agreements with interested companies. We know that our comprehensive range of Inventor Assistance Services and our patent-pending licensing methodology are a valuable advantage to individual inventors.
This belief is confirmed by our clients themselves based upon their responses to their Inventor Assistance Quality Assurance Questionnaire, which enables us to monitor the effectiveness of our services and client satisfaction levels. It allows us to examine our strengths and weaknesses as perceived by the clients we serve, and guides our aim to constantly improve and adapt our services in a rapidly changing, global marketplace.
During the term of their contract, Invent-Tech’s inventors gain from the expertise and recognized industry presence of the nation’s preeminent Inventor Assistance Firm. With the combination of their determination and ours, we work together diligently towards the best possible outcome. Check back next week to learn more about an invention’s journey through the Invent-Tech office.
August 25th, 2006
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a Thursday evening update. As mentioned in this space yesterday, we are actively managing several potential licensing scenarios, and we added another one to the mix this afternoon.
One of our Manufacturer Response Team representatives received an e-mail update from a company that had expressed an advanced level of interest in a beverage accessory several months ago. In fact, we had initially secured their written confirmation of interest in the spring, and then met in person with one of their representatives during the National Hardware Show in May. We reported on this meeting in a May 10th entry, and things have been progressing significantly on the company’s end since then.
They explained in their e-mail today that they are at the stage of starting to think about the design of the packaging of the product, and they have already obtained manufacturing quotes that they feel positively about. They requested that our Manufacturer Response Team representative join them on a telephone call early next week to discuss matters directly. That phone call has indeed been scheduled, and the possible terms of a licensing agreement will be among the items discussed.
This is yet another example of how even product ideas that Invent-Tech eventually licenses can certainly take a long path to get to that goal. Patience and trust are priceless in cases like this for the inventor, who can potentially be rewarded in the end with licensing success.
Check back with us tomorrow as we wrap up our week!
August 24th, 2006
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a mid-week update. We have been busy working further on some potential licensing situations that have already been discussed previously in this space, but we also received positive news today on two additional products from the Invent-Tech roster.
The first is a kitchen accessory that has already been receiving interest from a company involved in our Innovation Direct™ program. In fact, we reported on this interest in an August 7th entry (”Invent-Tech and Innovation Direct™ experience a successful Monday…..“). We received word today that the product idea is also the subject of serious interest from a major infomercial company that we originally met at the ERA Show in Las Vegas last September and that has been reviewing information on the item for some time now. They are in the midst of obtaining production cost estimates overseas before making a final decision on the product. In the interim, the company originally interested in the product continues to review the licensing agreement draft that our Manufacturer Response Team representative sent them a couple of weeks ago. It could be a race to the finish for this particular invention! As always, we will keep you abreast of any developments with this situation right here on the Invent-Tech Network.
Additionally, we also received positive word today in writing on a baking accessory from a major housewares company. The company has reviewed the detailed information on the product and is apparently in the process of making a final determination on their long-term interest.
We are genuinely excited about the potential that these scenarios appear to hold for the inventors involved. We will keep you up to date on the latest right here in this space. Check back frequently.
August 23rd, 2006
Good afternoon, Invent-Tech’s Sr. Technical Writer here to introduce a new series of blog entries where we will focus on the history of great inventors and inventions. Just as it is with the inventors we represent, who are still aspiring toward the recognition achieved by famous inventors such as Thomas Edison—most recognized for inventing the modern incandescent bulb, each and every inventor’s success is shaped by their experiences and determination.
Though there are many noted inventors who came before him and many inventions that have had a greater impact on society’s progress than his own, we will begin our series with a brief history about Thomas Edison, who was the first inventor inducted into the National Inventor Hall of Fame in 1973 and is claimed by some to be the most influential figure of the second millennium..
Born in 1847 in Milan, Ohio, Edison came from a working-class family where his mind, not his resources, was responsible for his achievements. As a child, his inquisitive nature hindered his formal education—his teacher could not handle his constant questions. His mother began to teach him at home, but Edison’s hyperactive mind was constantly seeking a deeper understanding of advanced topics that surpassed the knowledge base of his parents. He continued his education with a tutor.
In his mid-teens, Edison set out on his own to pursue a career as a telegraph operator in Boston. In his spare time, he experimented with inventing. The telegraph was a modern concept at the time, and his experience with it exposed him to an environment of advancing technology. Most of his early experiments related to improving the telegraph system, including his first invention—the automatic telegraph repeater.
Edison received his first patent for an electric vote-recording machine. However, the concept was ahead of its time and was rejected by legislators. From that point on, he determined himself to only invent things that people would want to buy.
Edison was motivated by a few lectures he attended at Boston Tech (currently known as the Massachusetts Institute of Technology) to pursue the theory that human voices could be transmitted via electrical impulses at different frequencies—the concept behind the modern telephone.
This pursuit continued when Edison moved to New York. Even as he worked on a new stock ticker invention that he eventually sold to a corporation for $40,000 and developed the first phonograph as well as other inventions, he continued to work on a voice transmitter device until, to his disappointment, a duplex transmitter that allowed for audible conversations over long distances was patented by Alexander Graham Bell.
Despite not being the first to patent the telephone, Edison improved upon Bell’s concept with a quadruplex transmitter and created a carbon transmitter that made Bell’s telephone more practical. In fact, most of the inventions that Edison developed were improvements to existing inventions. Even the first commercially practical light bulb he invented in 1879, for which he earns much of his notoriety, was an improvement on the ideas of numerous other inventors.
Edison started Edison Electric Light Company, which later merged with another company to create General Electric, and his inventions continued to make money. Edison had the means and vision to create the world’s first research and development center. It was from this laboratory that Edison worked on many of his inventions, such as the first practical Dictaphone, mimeograph and storage battery.
Throughout the remainder of his career, Edison invented the Vitascope and Kinetiscope that would lead to the introduction of motion pictures and many more innovations that still reverberate in our everyday lives. Edison received 1,097 U.S. patents in his lifetime.
As you can see, an inventor can have a great impact on society. Throughout this series, we will discuss other influential inventors and inventions that you may or may not be familiar with. Hopefully, these entries will give you a better understanding of the experiences of other inventors, and why or how an invention becomes invaluable in our lives.
Comments on inventors or inventions you feel are important and would like to be covered in this series are welcome. Someday, it may even be your invention!
Facts gathered from Wikipedia, the free encyclopedia, and www.thomasedison.com
August 22nd, 2006
As students across the country return to school, the retail market is focused on school supplies to prepare them for a year of learning and growth. The school supply list has not changed much over the years. Pencils, folders and notebooks fill every back-to-school shopper’s cart, ready to load into backpacks and lockers alongside numerous textbooks.
The basic classroom needs may not have changed, but modern students have. They expect improvements such as enhanced comfort, convenience and organization from their school supplies. Whether they complain about the discomfort of a heavy backpack or that a disorganized locker makes them late for class, Invent-Tech clients’ innovations could surpass their high expectations and improve a child’s academic experience.
Penny H. grew concerned when her young son complained of back pain. She realized that the discomfort was attributed to the weight of his backpack and later learned that other parents shared the same concern. Eager to solve this problem and provide some relief to her child, the Virginia resident invented the Aero Bag.
The Aero Bag is specially created to provide comfort to students who carry heavy backpacks. It eliminates back pain and allows children to conveniently carry a bag on their back. This device is versatile and enables individuals to manipulate the contents of their bag. With an affordable price and a selection of colors and designs, it can be expected to appeal to a wide market of consumers.
At the close of the 2004-2005 school year, teacher and band director, David M. walked through the halls of his school, toward the office. Along the way, he noticed several open lockers that had been emptied. Recalling a conversation with his band students where he learned that most students’ lockers are extremely disorganized, the Texas resident was inspired with a solution.
After discussing the idea with his wife, B. Adele, the pair collaborated to create the ‘ultimate locker organization aid’, the Locker Caddy. This breakthrough innovation organizes items typically kept in a locker, allowing more items to be stored by fully utilizing the available space. In addition to working as a caddy while in the locker, the Locker Caddy can be used when out of the locker as well. This practical, versatile and inexpensive accessory will surely be well received by students.
Many people, especially high school students, use combination locks to keep their belongings safe. Amika M. conceived the idea for an improved security lock she calls Digi Guard. This uniquely designed product saves users time and makes it nearly impossible for others to break the personal code. Digi Guard is battery operated and offers a sleek design, making it ideal for use at school, the gym or the office.
Additional information about the Aero Bag, Locker Caddy, Digi Guard or other products Invent-Tech represents may be obtained by contacting the Publicity/Press Department of Invent-Tech at (800) 940-9020 ext. 2285 or at products@invent-tech.com. Invent-Tech® is a Coral Gables, Florida-based firm that is handling the publicity and public relations for these innovations.
August 21st, 2006
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with an end-of-week update. We wrapped up what has been a very fruitful week with some good news regarding the Christ Is Alive invention, a religious jewelry item that was licensed in early 2006.
The licensee informed us that they are almost ready to go into full production on the invention, and they plan to go forward with a marketing plan that includes placement of the item on multiple websites as well as attempts to distribute it through religious bookstores and similar outlets.
The licensee had been waiting on the product to reach patent pending status with U.S. Patent and Trademark Office, which was achieved on June 30th, 2006.
Continue to check in next week, as we hope to bring you more positive news on Invent-Tech client inventions.
August 18th, 2006
Tuan D. of Arizona has reached a licensing agreement with regards to his baseball training aid, the Batting Buddy, with a leading manufacturer of unique sports products. The Batting Buddy is the second invention licensed through Invent-Tech by this company, which also licensed the Tennis Pro Power Server in 2005.
While playing baseball with his two sons, Tuan conceived the idea for a product that could help any baseball player improve their game. He created the Batting Buddy in order to eliminate chasing after balls or having to retrieve them in a neighbor’s yard during batting practice. It is ideal for players of any age, size or skill level, whether right or left handed. Additionally, the Batting Buddy greatly enhances a user’s batting skill and can be used alone or with a partner.
After conducting thorough research into the feasibility and marketability of Tuan’s design, the manufacturer chose to pursue a potentially lucrative, multi-year agreement that includes an extremely competitive royalty rate compared to current rates being paid in the industry. Having successfully promoted numerous sports products for over 30 years, the licensee feels that the Batting Buddy is a perfect fit for their company and expects it to do well in the marketplace for its unique advantages.
Additional information about the Batting Buddy or any of our other licensed products may be obtained by contacting Invent-Tech® at (800) 940-9020, extension 2280 or at mrt@invent-tech.com.
August 17th, 2006
Persistence and determination were crucial in the negotiation of a licensing agreement between Invent-Tech client, Rex C. of Indiana and an electronics manufacturer, which concluded with the receipt of the finalized agreement signed by both the inventor and licensee in August 2006.
Rex began developing the Radio Thermos in January of 2003, crediting divine inspiration for blessing him with this idea, which provides a convenient way to listen to the radio anywhere. The Radio Thermos is a dual-purpose product that allows the user to listen to news, weather, sports and enjoy some tunes on their coffee break, during lunchtime or while they work.
The Radio Thermos is also ideal to take to sporting events or on outdoor excursions, including hunting and fishing trips, because it is cordless and completely portable. This innovation has a feature to be discreet and not bother anyone else if needed. It fits perfectly onto a thermos and into a lunchbox.
The manufacturer indicated the potential for long-term interest in the Radio Thermos soon after signing a non-disclosure agreement and reviewing detailed product information; however, research into the production considerations and prospective market was a long process. Rex’s patience with the process was rewarded when he signed a potentially lucrative multi-year licensing agreement that includes a modest upfront acquisition fee and an extremely competitive royalty rate compared to current rates being paid in the industry.
Additional information about the Radio Thermos or any of our other licensed products may be obtained by contacting Invent-Tech® at (800) 940-9020, extension 2280 or at mrt@invent-tech.com.
August 16th, 2006
Good afternoon, Juan C. Blanco checking in with the second update of an extremely productive day for Invent-Tech. We have successfully secured an advanced level of interest in writing for three product ideas.
The inventions are a personal consumer electronics accessory, a specialized dispensing item, and a household organizational item. The three companies that expressed an interest had all received the detailed package of information on the respective inventions recently and made a decision to delve into further research on these items in order to determine their potential long-term interest in them.
As always, we will keep you posted if and when any positive developments occur with these products, right here on the Invent-Tech Network!
August 15th, 2006
Good afternoon, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with an update on what has been a momentous day for Invent-Tech and its licensing efforts. We have received a signed licensing agreement via fax this afternoon already signed by both licensor and licensee, and have also received confirmation from a manufacturer of the mailing of a signed agreement on a separate item.
The faxed agreement we received today is for a personal consumer electronics accessory, the Radio Thermos, that has been the subject of the licensee’s interest for several months now. Like many other instances that we’ve cited here in this space, this was a case of a company taking its time to perform its due diligence on the long-term potential of a product. They have also had several conversations with the inventor as part of their research, and recently reached the conclusion that they wanted to commit to the production, marketing, and distribution of the product. We will have more details on the product and the agreement in a press release here on the Invent-Tech Network tomorrow, but we can say that the inventor will be receiving a very competitive royalty rate if and when the product sells to consumers.
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 today 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.
Additionally, we have also secured an advanced level of interest in writing on three more Invent-Tech client product ideas today. We will have more details on these shortly!
Invent-Tech continues to solidify its position as the nation’s preeminent inventor assistance firm on a daily basis by obtaining results like these for its clients. Check back frequently for more exciting news!
August 15th, 2006
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a Monday update. We received news today on two items that were originally licensed in April 2005 by the same licensee, and which are still in the process of being prepared to be introduced to the consumer marketplace.
The first, the Directional Hose Guide, is a medical accessory. While prototypes that the inventor had were relatively well-made and had worked for the inventor’s personal use, the licensee decided to suggest some redesigns after they test marketed the item to a few medical products distributors and processed the feedback they received. After conferring with the inventor and Invent-Tech on these changes and receiving unanimous approval to implement the modifications, the licensee went ahead and completed a new model of the product. We were notified via e-mail today that they are shipping the prototype to Invent-Tech for review, after which we will be sending it to the inventor for the same purpose.
The second item, the Turf Sweep 60-DD, is a sporting goods/lawn maintenance accessory. This product also has undergone somewhat of a facelift that was mainly inspired by feedback received from a couple of leading distributors in the field that the licensee test marketed the inventor’s original prototype to. While the inventor’s version has certainly served him well–he has used his prototype with great success at work for several years–the licensee found that there were certain changes that would be required to make the product marketable on a wide scale. We also are expecting the new version of the product to arrive at the Invent-Tech offices this week for our review and approval, after which we will be having the inventor take a look at it as well.
Both of these scenarios are a testament to the amount of time and patience that is often required to see a product to the market. Contrary to popular belief, the signing of a licensing agreement, while certainly a noteworthy and crucial step, does not guarantee a product will make it to market within a certain period of time. In fact, the stark reality is that a licensed product sometimes does not make it to a store shelf at all. However, it is important to note that licensees such as the one cited in this example, who take the time to test market an item and suggest changes or improvements based on the feedback they receive, greatly enhance the opportunity for a product to be well received by the consumers it is intended to target.
Just as importantly, inventors that are receptive to having their original design modified for the greater good of the product also help to greatly increase the chances of their invention being successfully commercialized.
August 14th, 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!
August 11th, 2006
Some of the most common questions we receive when a new inventor submits their invention, or is considering doing so, typically go something like this, “So, do you think my idea will make it?”, or “I know you probably can’t say, but what do YOU think about my idea, personally?”. Questions such as these, though they are natural to novice inventors, reflect a fundamental lack of understanding on the part of the inventor. It doesn’t matter what Invent-Tech thinks about the invention. The only thing that matters is what the INVENTOR thinks of their OWN invention.
Then, of course, there are the many inventors who are “encouraged” to ask about Invent-Tech’s relative acceptance and rejection rates, even though such a statistic provides little meaningful insight into whether or not Invent-Tech is a smart choice for any given inventor’s highly personal and individual situation, not to mention the completely subjective circumstances surrounding their particular idea.
Regretfully, such questions are rarely intended to better inform the inventor. Rather, they are bandied about and parroted frequently on the internet for the sole purpose of creating doubt in the mind of the inventor.
To be clear, Invent-Tech does not express any assessment, opinion or judgment regarding the quality, technical merit, or likelihood of success or failure of the ideas submitted to it. We are in business to assist serious inventors who already have confidence in their own concept and are seeking help in moving it forward.
We do not selectively choose inventions to work on, but we do reject inventions that we CANNOT work with based upon criterion such as: previously licensed inventions, military weapons, products based on others’ intellectual property (ie; trademarked terms, celebrity likenesses, etc), pornographic or otherwise objectionable content, as well as inventions that defy conventionally accepted technology such as spacecraft, time-travel, perpetual motion devices, etc. Some common restricted categories are listed on the back of the Invent-Tech Confidential Submission Document under Ideas That Cannot Be Reviewed.
It may be instructive to better understand how our submission process works. When an idea is submitted, it goes through a categorization and logging process known as a Product Review. This involves reviewing the submission to ensure that it is legible, properly completed, and determine whether or not the submission falls into an acceptable category for further assistance, or if it falls into a restricted category and will be rejected automatically.
As Invent-Tech does not offer any positive or negative assessments or evaluations of inventions, the usefulness of our relative acceptance and rejection rate is questionable at best. However, in the interest of open discussion and clarity, year to date, Invent-Tech has rejected approximately 17.5% of the submissions received. Approximately 82.5% of the submissions did not fall into a restricted category, and accordingly, Invent-Tech has provided the inventors with proposals for the assistance that they were seeking when contacting us.
August 10th, 2006
Good morning, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a very quick and early Wednesday morning update. A product that Invent-Tech helped license in September 2005 and that we have reported on in this space on several occasions, the IDDO Back Support, recently was discussed in a newspaper article in the inventor’s hometown of Las Vegas. We are extremely pleased to read about the product’s continued progression towards the consumer market as described in the article, and very proud of the mention of Invent-Tech’s prominent role in the licensing of the IDDO Back Support as well.
You can read the article by clicking on the following link:
http://www.viewnews.com/2006/VIEW-Jul-18-Tue-2006/North/8440050.html
August 9th, 2006
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a Tuesday evening update. We are happy to report that our recent string of successes continued today with the securing of an advanced level of interest in writing on an auto accessory.
The interested manufacturer had recently received a detailed package of information on the product idea after signing a non-disclosure agreement. After taking some time to consider the design details of the invention, they opted to put their interest in writing and will spend the next several weeks evaluating several aspects surrounding it. We are certainly hopeful that this will eventually result in a licensing agreement, and will keep you posted on any developments right here in this space.
Additionally, we also received word back from our contact at a leading household products company regarding a recent Innovation Direct™ package they’d received from us. We had originally met this company at this year’s International Home and Housewares Show back in March, and had alluded to their visit to the Invent-Tech booth in a March 14th entry (”Two major household products companies approach the Invent-Tech booth as Day 3 kicks off…“) They had received preliminary information on 10 product ideas from the Invent-Tech roster in their latest Innovation Direct™ package, and opted to sign non-disclosure agreements for 3 of those inventions. After reviewing the detailed design information on each one, they let us know via e-mail today that they will be discussing two of them further with their engineers before making a final decision.
As always, we appear to have multiple potential licensing opportunities developing for our clients. Check back in to the Invent-Tech Network daily to be kept abreast of the latest!
August 9th, 2006
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a Monday update. As a review of recent entries here on the Invent-Tech Network will attest, Invent-Tech certainly experienced a flurry of positive activity last week. We are happy to report that the momentum has been maintained, as the Manufacturer Response Team began the week with good news from two of the newest companies to have joined our monthly manufacturer new product subscription service, Innovation Direct™.
To begin with, we received an e-mail response over the weekend from a company that we initially met at this year’s International Home and Housewares Show in March. They were replying to a recent Innovation Direct™ package of preliminary information on 15 ideas that we’d sent them. The contact informed us that they were very pleased with the potential relevance that many of the product ideas seem to have to their product line, and that she would be discussing which ones they wanted to request more information on with the company president over the next few days. The company is a Canadian-based firm that manufacturers and markets hardware products and accessories and promotes them through television, among other distribution channels. We are certainly pleased about the potential that this scenario may hold, and we will update you on any developments right here on the Invent-Tech Network.
Additionally, we also received feedback via e-mail today from a company in our Innovation Direct™ program that we most recently reported on in an August 1st entry. The contact at this household products company, which we originally met at Licensing International 2006 in June, informed us that they had reviewed the terms of the licensing agreements we’d sent them for the two product ideas they had taken a strong interest in from their most recent Innovation Direct™ package. We are at the stage of negotiating royalty rates with them on both product ideas, so we are increasingly hopeful that this situation will culiminate in two more licensing agreements for Invent-Tech clients. As always, check in to this space for updates as this scenario unfolds further!
Invent-Tech is certainly pleased to see such tangible positive results emanating from a licensing initiative such as Innovation Direct™, one which has really only been fully functioning for a relatively short period of time. We feel it is another example of our commitment to seeking out the most effective methods of delivering new product information to manufacturers and marketers that can potentially license our clientele’s product ideas.
Check back with us throughout the week, as Invent-Tech continues its red-hot summer streak!
August 7th, 2006
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