Archive for September, 2007
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with our second and final update for Day 1 of the Puerto Rico Gift and Variety Merchandise Show 2007. As we’d expected, the pace of the event continued to be brisk throughout the afternoon and early evening hours, which resulted in a particularly interesting visitor to the Invent-Tech booth.
Our trade show staff met with an individual who is developing a burgeoning inventor assistance business in Puerto Rico, and is currently representing several individuals who have product ideas. The gentleman became intrigued about the possibility of working with Invent-Tech through a yet-to-be-determined method after becoming acquainted with our diverse array of proven services for inventors. We agreed to follow up after the event was over to further discuss any possibilities that may exist with regards to working with this individual and will post updates about any developments, here on the Invent-Tech Network.
Thank you for joining us for our coverage of Day 1. Join us tomorrow as we bring you all the latest from the show’s second day!
September 30th, 2007
Good afternoon, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with our first update from Day 1 of the Puerto Rico Gift and Variety Merchandise Show. The event’s first few hours were marked by consistent booth traffic at the Invent-Tech exhibit, as well as our customary successful photography session throughout the show floor.
The show features a wide variety of exhibitors displaying items in a diverse group of product categories. Our trade show contingent’s excursion through the event floor with the photographer revealed booths displaying everything from sunglasses to auto accessories. There has also been an eclectic group of visitors to the Invent-Tech booth that have had the usual inquiries about our services as they pertain to both inventors and manufacturers.
The rest of the afternoon should continue at a brisk pace, and the Invent-Tech Network will bring you all the details. Check back with us later this evening!
September 30th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a quick update on the eve of Day 1 of the Puerto Rico Gift and Variety Merchandise Show 2007. The event, which takes place between Sunday, September 30th and Tuesday, October 2nd, will unfold at the spacious and modern Puerto Rico Convention Center in San Juan.
As customary, Invent-Tech will bring the readers of the Invent-Tech Network multiple, intra-day updates direct from the show floor throughout all 3 days of the event. Our most recent experience in Puerto Rico, during the Hardware and Construction Products Show in February, was a very positive one, and we expect this event to be equally rewarding.
Check in with us beginning tomorrow for the latest from the show!
September 29th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, here with an update to wrap up another successful week at the nation’s preeminent inventor assistance firm. Updating a situation we had most recently reported on in a September 24th entry (”Update: Invent-Tech arranges for conference call between inventor of bedding product and manufacturer displaying advanced level of interest…”), the conference call alluded to actually took place earlier Friday and went very positively.
The manufacturer, which has signed an exclusive short-term developmental agreement for the invention, explained to the inventor and Invent-Tech that they were prepared to make three “mini” prototypes of the bedding product. The variances in the three versions would mainly be in the type of materials that would be utilized for a specific part of the product that is key to its functionality. As our contact at the company explained during the telephone call, their goal is to determine which material will work best and be most appealing to consumers.
Additional topics discussed during the call included the company’s distribution capabilities. As the manufacturer explained to Invent-Tech and the inventor, they deal and sell their products directly to many high-end designers and furniture stores, amongst other entities. With the rather unique angle that this bedding invention offers, their feeling is that it will potentially fit in extremely well with their customer base.
Overall, we are confident in stating that the call was very productive and cause for optimism. The next step will be for the company to complete the three samples and send them to Invent-Tech and the inventor for review, a process which our contact stated should be complete within a couple of weeks.
We will certainly continue to keep you updated on any and all developments with this situation, here on the Invent-Tech Network. Stay tuned for all the details!
September 28th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a Thursday update. Continuing our recent “hot” streak with our West Coast-based industry partner, there appears to be strong interest building in an Invent-Tech inventor tailgating accessory from one of the companies he regularly deals with. Incidentally, this is the same company that we had most recently reported on in a September 3rd entry (”Invent-Tech receives request for more sporting goods accessories from industry partner; searches to begin tomorrow…“).
As we’d explained in that posting, our industry partner had asked that we search the Invent-Tech database for potentially good matches in the tailgating accessory category for this company, which had recently secured the brand license of the sports division of a major broadcast television network.
After having reviewed several items that we had sent our industry partner in conjunction with this request, the company has taken a particular interest in the aforementioned invention. The idea, which does have a fully developed prototype, has also caught the eye of the Manager of Brand Licensing of the television network. At this point, our industry partner is requesting that Invent-Tech assist by developing some additional digital renditions showing different design options at potentially different price points. Consequently, we will be meeting with members of our Visual Design Team to begin this process.
We are happy to provide yet another example of Invent-Tech’s willingness to go above and beyond in attempting to secure licensing success for the products that we represent. Although this situation is definitely still very fluid, we are optimistic by the interest being shown so far!
Stay tuned to the Invent-Tech Network for the latest!
September 27th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a mid-week update. Our West Coast-based industry partner, which has been mentioned often in this space and has been instrumental in the licensing of multiple Invent-Tech inventor products in the past, has presented us with a request for Hispanic-oriented kitchen and cooking ideas. The request stems from his dealings with a multi-million dollar company that has extensive manufacturing capabilities and a substantial relationship with one of the world’s largest retailers.
As per our industry partner’s explanation to us, this company is preparing a category of these types of inventions to present to the buyers of their retail client in the near future. He would like for as many Invent-Tech inventor products to be a part of that meeting, so the Manufacturer Response Team will naturally be performing searches through the our database as soon as possible to comply with this request.
We are certainly hopeful that this is the beginning of a potentially rewarding opportunity for several Invent-Tech inventor products! As always, we will keep you posted on any and all developments with this situation, here on the Invent-Tech Network. Check back with us frequently!
September 26th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a Tuesday update. Updating a situation that we had most recently reported on in an August 29th entry (”Update: Invent-Tech discussing royalty percentanges with Canadian manufacturer in connection with industrial accessory…“), we have received further communication from our contact at a Canadian manufacturer that has been displaying an advanced level of interest in an industrial accessory from the Invent-Tech roster. The company has made the inventor a firm offer of a royalty percentage, and it appears, according to their correspondence, that they are prepared to make a significant investment in the tooling, manufacturing, and marketing of the product.
As per the correspondence, the only pending matters before an agreement is signed are the inventor’s acceptance of the terms being offered and our contact having a final discussion with some of his colleagues regarding the product. Our contact has also expressed an interest in having his company’s patent attorneys handle the patent application on the product, as they have already begun strategizing the best possible methods of protecting it.
We are naturally very excited to hear about these latest developments, and are in the midst of requesting a written proposal from the company for the review of the inventor and Invent-Tech. We certainly are hoping to soon be able to report that this scenario has culminated in licensing success, but only the coming days and weeks will tell!
Join us Wednesday for our mid-week report!
September 25th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with an update to kick off our week. Earlier Monday, the Manufacturer Response Team member handling the advanced level of interest being displayed in a bedding accessory from the Invent-Tech roster was able to schedule a conference call between the inventor, the manufacturer, and Invent-Tech that the manufacturer had requested.
As we had reported in our September 19th entry (”Update: Invent-Tech secures written advanced level of interest in bedding product…“), the principal of the interested company had requested the call as a means to be able to discuss modifications to the design of the concept they had in mind, as well as to garner any additional insight from the inventor that they might have had about the invention. After conferring with all parties, it was determined that the call will take place this coming Wednesday afternoon.
We are certainly hopeful that the conversation between all parties will result in yet another positive step being taken toward the licensing of this invention, but only time will tell. As always, we will bring you any and all pertinent updates to this situation, here on the Invent-Tech Network.
Join us Tuesday for more news!
September 24th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with our end-of-week update. Updating a situation we originally reported on in a September 12th entry (”Update: Invent-Tech set to begin licensing discussions in conjunction with industry partner on consumer electronics accessory…“), Invent-Tech, in conjunction with our West Coast-based industry partner, took another step Friday towards the potential licensing of a consumer electronics accessory from our invention roster.
Our West Coast-based industry partner had provided us with a draft of the licensing proposal for the product late Thursday afternoon, and we had promptly sent it via e-mail to the inventor for review. Earlier Friday, we received communciation via e-mail from the inventor that they approved all of the terms of the proposal and had no further questions. The Manufacturer Response Team member that has been handling this situation since the onset promptly communicated this to our industry partner, who will now approach the potential licensee with the agreement.
We are certainly hopeful of being able to eventually report that this invention has reached licensing success, but only time will tell. In the meantime, we are certainly enthused that for all practical purposes, we are already halfway there. Join us Monday for the beginning of another great week!
September 21st, 2007
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with our Thursday update. We are pleased to report that a Utah-based manufacturer that had recently been reviewing detailed design information on an outdoor personal accessory from the Invent-Tech roster has informed us that they have a potentially serious interest in moving forward to the next step with this invention.
What that next step will be is what remains in question at this point. The principal of the company, who is serving as our contact in this situation, informed the Manufacturer Response Team member he has been dealing with that after reviewing the detailed design information on the invention website, his company definitely had an interest in seeing a sample of the item. A follow-up phone call to the inventor placed by the Manufacturer Response Team revealed that he had the ability to put together a sample for the manufacturer’s review within a day. Accordingly, our contact at the company has been informed that a prototype will be provided to them shortly for their first-hand review.
Our contact informed us that in the meantime, they will be deliberating the potential of the invention further within a company meeting on Friday morning. Once they receive the sample unit from the inventor, they will also review it as a group and then ostensibly provide us with their additional impressions on the opportunities the product may have within their company.
We are certainly encouraged by how quickly this situation appears to have come together and are hopeful that it will continue to unfold positively, but only time will tell. Join us on Friday as we wrap up our week!
September 20th, 2007
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a positive update to a situation we had most recently reported on in a September 10th entry (”Update: Invent-Tech receives detailed inquiries from manufacturer regarding bedding accessory…“). As we’d stated in that posting, a Florida-based company that had received detailed information on a bedding invention from the Invent-Tech roster had written back to us with some considerably detailed questions recently that indicated that they were potentially very serious about taking on the product. As we’d also explained, we had been able to respond to all of their inquiries promptly and were now awaiting an indication of what next step they would take, if any.
That indication came earlier today, when they agreed to put their advanced level of interest in writing, and also let us know that they would immediately begin with the creation of a prototype of the item. A possible conference call between the inventor, the manufacturer, and Invent-Tech may take place in the coming days as well, as the potential licensee has some modifications in mind that they would like to obtain the inventor’s feedback about.
We are certainly pleased to be able to bring you another tangible example of the efficacy and effectiveness of Invent-Tech’s processes with regards to the inventions we represent. Stay tuned to the Invent-Tech Network for further updates to this situation, and check back in with us on Thursday for more news as well!
September 19th, 2007
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with our Tuesday report. Updating a situation that we had initially reported on in a June 21st entry (”Invent-Tech secures advanced level of interest in sporting goods product…“), Invent-Tech management has made a decision in regards to a request that had been recently made by the principal of the India-based company that had expressed an advanced level of interest in the sporting goods product that was the subject of that posting.
A few weeks ago, our contact at the company had stated that he and his staff would need detailed drawings with product schematics, and possibly a prototype, in order to make a final decision on whether or not they were willing to commit long-term to the invention. After deliberating the matter, Invent-Tech senior management gave the go-ahead for Invent-Tech to participate in a limited degree in the further development being requested.
As has been stated before here on the Invent-Tech Network, Invent-Tech often goes above and beyond in attempting to position the product ideas it represents for optimal success. In large part due to the fact that this company appears to have considerable marketing and distribution capabilities in the sporting goods industry, thereby making them a potentially ideal licensing candidate, it was determined that this was a prudent opportunity for all parties.
We will bring you all future updates regarding this situation here on the Invent-Tech Network. In the interim, join us on Wednesday for the latest!
September 18th, 2007
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, here with an update to get our week started off. We have received notification from our contact at the licensee of the Tactical/ EMS Leg Mate, a medical accessory from the Invent-Tech roster, that they have completed the modified prototype of the item and have sent it to us for review.
As we’d reported in an August 21st entry (”Update: Invent-Tech receives photos of modified prototype of Tactical/EMS Leg Mate from licensee…“), the inventor had been extremely pleased with the original prototype of the item, except for the fact that it was not able to completely accommodate one of the most essential tools that an emergency medical technician would need for his day-to-day work in the field. The manufacturer had assured both Invent-Tech and the inventor that modifying the item to address this problem and by the time of the aforementioned entry, had already provided us with photos as well. They are now taking the step of sending us the revised model for our first-hand review.
After we do receive the new unit and photograph it for our records, we will be shipping it off the independent patent attorney that will be processing the patent application on the Tactical/EMS Leg Mate. Pursuant to our agreement with the inventor, Invent-Tech will cover all expenses related to this process.
Join us tomorrow for more news!
September 17th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with an update for what was an eventful Friday at the nation’s preeminent inventor assistance firm. In yet another vivid example of how our Innovation Direct™ program lends itself to very prompt feedback from manufacturers, we have already received an e-mail response from our contact at the New York-based company that we had just sent a package to yesterday (”Update: Invent-Tech sends off Innovation Direct™package to New York-based company…“).
As we’d explained in that entry, we had began by sending the preliminary, non-confidential information on several product ideas from the Invent-Tech database and expected to hear something back regarding the company’s initial impressions fairly soon. That communication came earlier today from the company’s Director of Merchandising, who informed us that there were 4 items of the 12 in the group they wanted to obtain detailed design information for.
As is customary in our dealings with this company, both parties will sign a version of the manufacturer’s proprietary non-disclosure agreement that will encompass all 4 of the product ideas. Once this has been accomplished, which should be during the business day on Monday, we will provide our contact access to all of the detailed information available for each invention.
We hope to have some positive updates regarding this situation at some point next week. Join us Monday as we kick things off!
September 14th, 2007
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a quick Thursday evening report. Updating a situation we had initially reported on in a September 7th entry (”Update: Invent-Tech making progress on latest Innovation Direct™ package for New York-based company…“), the Manufacturer Response Team member managing the account of a New York-based Innovation Direct™ company put the finishing touches on their latest package and sent it off to our contact earlier today.
The batch of preliminary, non-confidential information, which pertained to inventions in multiple categories, has already been confirmed as received by the company’s Director of Merchandising. Given this company’s history in displaying advanced levels of interest in various Invent-Tech inventor products in the past, we are certainly hopeful that they will do the same with several from this latest group. As customary, we will keep you abreast of all developments with this situation, here on the Invent-Tech Network.
Join us tomorrow for our end-of-week wrap-up!
September 13th, 2007
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with our Wednesday evening update. Earlier today, we received a telephone call from our West Coast-based industry partner bearing what could potentially be very good news. Our colleague explained that a New Jersey-based company that had expressed an advanced level of interest in a consumer electronics accessory from the Invent-Tech roster earlier this past summer has now decided to enter into the licensing negotiation phase for the idea! This is the same invention and company that we initially reported on in a July 27th entry (”Breaking news: Invent-Tech secures written advanced level of interest in 2 consumer electronics accessories…“).
As our industry partner explained to us during his phone call, the company principal that serves as his contact notified him that they had just acquired the brand license for a new cartoon series that will soon be airing on one of the leading cable television networks devoted to children’s programming. The gentleman apparently sees this product idea as an ideal fit to bear the image of the characters of this series that they now have the right to place on their products, and therefore wants to proceed with securing the exclusive rights to this particular item.
General royalty rate ranges have already been discussed, and pursuant to a conversation that I personally had with the inventor this afternoon that served to update her on the latest with this situation, our industry partner is now in the process of putting together a licensing agreement draft for the review of all parties. We are hoping to be able to receive the full proposal in the coming days.
We are very enthused about the prospects this scenario brings, as a brand license often has the power to catapult the sales of a product to the next level of volume. As customary, we will keep you posted on all developments with what we hope will eventually be another Invent-Tech licensing success.
Join us tomorrow for the latest!
September 12th, 2007
Good Tuesday evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a quick update. Earlier today, we attempted to obtain an update via e-mail from our contact at the Las Vegas-based Innovation Direct™ company that we had sent a 21-item batch of product ideas to on July 30th (”Update: Invent-Tech sends second Innovation Direct™package to Las Vegas-based company…“).
As we’d detailed in that entry, the information sent was spread across a variety of categories. Our contact responded by letting us know that although the information has been in their hands for almost 6 weeks at this point, they have been too busy to review it and still need more time. We explained to him that we appreciated the update and also informed him that we would be following up again before the end of the month.
We continue to make an effort to follow up with the many Innovation Direct™ companies we’ve been sending packages out to to over the last few weeks, and will keep you posted as to any updates regarding these situations, here on the Invent-Tech Network. Stay tuned!
September 11th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with an update to kick off our week. Early Monday evening, we received a detailed series of questions from the principal of a manufacturer that has recently been reviewing the detailed design information of a bedding accessory from the Invent-Tech roster.
The company had originally expressed an interest in learning more about the product back in June after reviewing the preliminary, non-confidential information on it that was contained in an Invent-Tech Manufacturer Introduction Package they had been sent. After agreeing to sign the requisite non-disclosure agreement in July, they were sent access to all of the detailed design information available for the invention in mid-August. They had let us know in late August that they would be in touch with us soon with questions, which was accomplished by Monday evening’s e-mail.
The company’s questions mainly centered around the rights they would have if they were to license the product, the royalty range that Invent-Tech typically expected to negotiate, and some of the modifications they were considering implementing should they take the product on. Naturally, we are very enthused about the nature of these inquiries, as they plainly reflect a high degree of serious interest from the company asking them. We promptly responded with an e-mail that addressed all of their questions and now await their response.
As always, we will certainly keep you abreast of this developing situation here on the Invent-Tech Network. Check back with us!
September 10th, 2007
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with an update to wrap up our week. Appropriately enough given the trend over the last few days, we closed out our week by focusing on the creaton of the latest package for the New York-based Innovation Direct™ company that we’d most recently reported on in a September 4th entry (”Update: Invent-Tech receives feedback from Innovation Direct™ company regarding 3 inventions that were subjects of advanced level of interest…“).
As we’d mentioned in that posting, our contact at the company had encouraged us to put together a new selection of ideas for their review as soon as possible, since we had obtained closure on the latest three items they’d taken an advanced level of interest in. Accordingly, two Manufacturer Response Team members, including the company’s official Innovation Direct™ account manager, made significant strides earlier today in identifying various product ideas from the Invent-Tech roster that will be included in the next batch. The goal is to have this group of items in our contact’s hands by Monday in order to begin the process of narrowing down which ones they will want to sign a non-disclosure agreement for.
As customary, we will bring you all relevant updates regarding this situation as they happen. Join us on Monday as we continue our successful September!
September 7th, 2007
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a Thursday evening update. The subject of today’s post, like so many others this week, is our Innovation Direct™ program, which has been on a torrid pace of success as of late. Earlier this afternoon, we did receive confirmation from our contact at a California-based Innovation Direct™ company that we had most recently reported on in an August 30th entry (”Invent-Tech prepares to send initial Innovation Direct™ package to California-based automotive acessories manufacturer…“).
As we’d stated in that entry, this particular company is especially interested in automotive tools due to their extremely strong distribution network in that area, and has also agreed to sign a non-disclosure agreement that will be kept in file and will allow Invent-Tech to automatically share detailed design information on any items that we choose to send them through Innovation Direct™. As such, the Manufacturer Response Team member handling this company’s account sent a 10 item batch of inventions to them earlier this week, and an acknowledgement of receipt was received almost immediately from our contact.
In that reply, our contact explained that he would be traveling out of the country and would likely not get a chance to review the information until after September 19th but earlier this evening, we received automated notifications that revealed that the company had already visited the invention websites of several of the product ideas from the group. We are certainly pleased by the fact that the manufacturer is giving this initial sampling of Invent-Tech inventor products such prompt attention in the midst of what appears to be a very busy month, and hope that there will be some successes in conjunction with this company in the future.
As customary, we pledge to keep you abreast of any and all developments with this situation, here on the Invent-Tech Network. Join us tomorrow as we wrap up our abbreviated but very fruitful week!
September 6th, 2007
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