Archive for October, 2007
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with our update for Day 2 of the AAPEX Show 2007. Regular readers of the Invent-Tech Network are aware that we customarily provide multiple intra-day updates during each day of a trade show event, but that plan was short-circuited today by some of the residual weather effects of Tropical Storm Noel in the South Florida region, where we are headquartered. With internet access unavailable for a considerable portion of the afternoon, we decided to put our Day 2 news into one end-of-day post for easy reading!
The Invent-Tech trade show representatives attending the AAPEX event informed us that they ventured up to the second floor of the proceedings this afternoon and began making some headway in terms of making solid contacts with fellow exhibitors. Companies specializing in a wide variety of aftermarket auto accessories were met, and our trade show contingent assures me that they have collected several business cards that may represent fruitful opportunities for some of the inventions on the Invent-Tech roster.
Tomorrow, members of our trade show team plan to venture much more extensively into the show’s second floor in anticipation of continuing today’s abbreviated but obvious success. Overall, the pace of the show certainly continues to be extremely brisk, and traffic at the Invent-Tech booth has reflected this level of activity overall. It is not surprising that the popularity of the AAPEX Show endures year after year, considering that the automotive aftermarket industry is responsbile for helping keep the approximately 230 million cars currently on U.S. roads running smoothly, according to statistics in the trade show’s official literature.
Join us tomorow as we expect to be back to our normal level of operation here on the Invent-Tech Network for the third and final day of AAPEX 2007!
October 31st, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a final update for Day 1 of AAPEX 2007. The first day of the event wrapped up in similar fashion to the onset, with another potentially valuable contact being made on the exhibit floor by a member of our trade show contingent.
Our trade show representative met the principal of a major automotive accessory distributor who had a variety of items on display at his booth. As the gentleman explained to my Invent-Tech colleague, he is officially a distributor but also has the ability to have products manufactured if he has a sufficient interest in them. This was an integral aspect to the conversation, as the ability to be able to manufacture, market, and distribute are essential for a company to be of potential value to Invent-Tech and the inventions it represents.
The gentleman was briefed on our Innovation Direct™ program and officially declared himself interested in beginning to receive new product ideas from the Invent-Tech roster on a regular basis. He also explained that he was interested in a very diverse group of accessories for automobiles, including anything from emergency-related products to ornamental items. We certainly are expecting to establish a strong relationship with this company given the fact that we likely have a considerable number of inventions that match his stated preferences. We will bring you all updates as the relationship develops, here on the Invent-Tech Network.
Thank you for joining us during Day 1 of what looks to be a very productive AAPEX Show 2007. Join us on Wednesday for all the latest from Day 2!
October 30th, 2007
Good afternoon, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, back with another update regarding Day 1 of the AAPEX Show 2007. The early afternoon hours (West Coast time) have arrived in positive fashion for the Invent-Tech trade show contingent, as another potentially significant contact has been made at the Invent-Tech exhibit booth.
One of the members of our trade show team was approached by the principal of a New York-based company that has specialized in bicycle and motorcycle cleaners and lubricants for close to 20 years. Additionally, as explained by the contact we made at the show and as stated on the company’s official website, the company is looking to expand into new areas and product lines. With a distribution network that already reaches into over 45 countries worldwide, this firm certainly has the potential and appealing resume that Invent-Tech and its inventors could benefit from over time!
After receiving a concise overview of Innovation Direct™, Invent-Tech’s dynamic new product idea subscription service for manufacturers, the company representative expressed his willingness to begin receiving invention information on a regular basis from us. We will naturally be following up on his request as soon as possible after the conclusion of the AAPEX Show.
The afternoon rolls on and we will have a wrap-up of Day 1 later this evening. Check back with us!
October 30th, 2007
Good afternoon, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with our first update from the AAPEX Show 2007. This marks the second year that Invent-Tech has participated in this signature event of the automotive aftermarket products industry, and as many other fellow exhibitors have already attested to, this year’s edition appears to have a certain upscale feel to it. It appears that many more decision-makers are walking the aisles of the exhibit floor, which bodes well for the show overall.
The show is taking place at the Sands Exhibition Center in Las Vegas, so our trade show contingent is on Pacific time and therefore still have the majority of the business day ahead of them. They hit the ground running this morning with the customary photography session that Invent-Tech and a contracted photographer partake in in order to capture high quality visuals of all of the proceedings. Images were captured over the course of one hour, encompassing the entire event and a considerable number of exhibitors. As usual, we will make all of these photos available on our official website, www.invent-tech.com, shortly after the show’s final day.
Additionally, we are pleased to report that one of our trade show representatives has made a contact with a representative of one of the world’s largest auto makers. The gentleman explained to our representative that he could put us in touch with the point person for new product idea submissions after the show, which was something we were obviously enthused to hear.
We have certainly kicked things off to a momentous start and there is more to come. Check back with us!
October 30th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a very positive update to kick off our week. We are pleased to announce that we have secured an advanced level of interest and corresponding exclusive developmental agreement on two inventions from the Invent-Tech roster.
The first product is an electric and wiring-related accessory designed for both home and commercial use. The Florida-based manufacturer that has taken an interest in the invention first received preliminary, non-confidential information on it several weeks ago in a Manufacturer Introduction Package. After signing the prerequisite non-disclosure agreement, Invent-Tech was able to send them a package of detailed design information, which included access to the invention website.
The company representative responded earlier Monday with a telephone call informing the Manufacturer Response Team that they saw potential in the invention, and that they had plans to perform further research and development over the coming weeks on the item. Additionally, they agreed to put their intentions into writing in the form of an exclusive developmental agreement. We will continue to follow this situation closely and will bring you all relevant updates, here on the Invent-Tech Network.
The second product idea,an electrical accessory, followed a similar path. The inventor had presented us with the name of a company he wanted the invention information sent out to, and the Manufacturer Response Team complied with his request by sending them preliminary, non-confidential details along with a non-disclosure agreement. After they agreed to confidentiality, the manufacturer received access to the detailed design information on the item and likewise has opted to do further investigating into how it might fit into their existing product lines. This manufacturer will also be putting their advanced level of interest into writing in the form of an exclusive developmental agreement. We will likewise bring you news on this situation as it develops further, here on the Invent-Tech Network.
Join us Tuesday as we kick off our AAPEX Show 2007 coverage!
October 29th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with our Friday report. Updating a situation we had most recently reported on in an October 12th entry (”Update: Invent-Tech participates in productive conference call with sporting goods accessory inventor and prototype developer…“), Invent-Tech has received the detailed price quote on the creation of a prototype of the sporting goods accessory that is currently the subject of a developmental agreement with a company headquartered in India.
As we’d explained in our posting earlier this month, we had faciliated a conference call with the prototype developer and the inventor in order for the developer to obtain the necessary details to formulate an estimate on what it would take to make a prototype. The sample is being requested by the potential licensee in India, as they were not able to complete this phase of the development themselves.
The price quote was provided via e-mail, along with a detailed breakdown on what each portion of the funds would be alloted for. The final materials that would be used for the unit are still in question and would be determined in the research and development phase that the prototype developer would carry out. Invent-Tech’s senior management is already in receipt of the estimate and is in the process of giving it a final evaluation before an approval is granted. As soon as we have any further news on the next step with this scenario we will certainly bring it to you, here on the Invent-Tech Network.
We are pleased to wrap up another successful week here at the nation’s preeminent inventor assistance firm. Join us Monday for the kick-off of another week!
October 26th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, back with a Thursday update. Earlier today, we continued the dissemination of detailed design information to our West Coast-based industry partner of the kitchen and cooking items he had recently selected from a large batch of inventions we’d sent him through our Innovation Direct™ program. We had reported on the results of his review of the initial group of invention websites in our entry yesterday (”Update: Invent-Tech industry partner begins review of invention websites for kitchen and cooking items…“).
We are pleased to report that this latest evaluation had more positive results. Our industry partner determined that five of the inventions were still of interest of him after he reviewed the websites, and he has plans to present these items to the companies that originally made the request for these categories. We are naturally enthused by this development and have hopes that this situation will eventually culminate in licensing success for some of these product ideas.
We also still have one more group of invention websites to share with our industry partner, which we will be doing by early next week. We will continue to report on any and all developments with this situation, here on the Invent-Tech Network.
Join us Friday for our end-of-week report!
October 25th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a Wednesday update. In an October 8th entry (”Invent-Tech sends information on hundreds of kitchen and cooking items to industry partner upon request…“), we had elaborated on the Manufacturer Response Team sending preliminary, non-confidential information via e-mail to our industry partner on all active kitchen and cooking inventions in our database at his request. As he’d explained to us, he was working with multiple companies that were searching for unique items in this category and wanted us to send him an extensive sample size for evaluation.
Our industry partner returned a list to us that specified all of the product ideas that he’d found to be of further interest after he reviewed their Press Release and Product Highlights, and earlier Wednesday, we began to provide him with access to the detailed invention websites for these items. By late Wednesday evening, our industry partner had already reviewed all of the sites and had determined he did not have further interest in any from that particular batch. Accordingly, the username and password for a new batch of websites will be sent to him Thursday, and we expect to receive equally prompt feedback!
We are pleased to be able to give such a large number of inventions from our database an opportunity to be considered simultaneously, and certainly expect that quite a few will benefit from this exercise. We will continue to update you as this situation develops, here on the Invent-Tech Network. Stay tuned!
October 24th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, chiming in with our Tuesday report. Updating a situation we had most recently reported on in a September 20th entry (”Invent-Tech inventor outdoor accessory receiving serious interest from Utah-based manufacturer…“), the Utah-based manufacturer that had been expressing an interest in an Invent-Tech inventor outdoor accessory has now officially declined any further interest in the product idea.
The company had actually reviewed a sample the inventor had sent them at their request in addition to looking over the invention website for the product. They had been deliberating the potential of the invention for several weeks and the Manufacturer Response Team member that has been following the situation had sent a request for an update via e-mail late Friday afternoon. The response received today from our contact at the company indicated that primarily because of their focus on other existing products at this time, they would not be going any further with our inventor’s item.
We will continue with our concerted efforts to further this invention and will keep you abreast of any developments, here on the Invent-Tech Network. Join us Wednesday for our mid-week report!
October 23rd, 2007
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with an update to get another week started here on the Invent-Tech Network. Earlier Monday, we received feedback from yet another Innovation Direct™ company that had been reviewing the detailed design information on four product ideas from the Invent-Tech roster for several months. This is the same multi-million dollar hardware products company we had most recently reported on in a July 31st entry (”Update: Invent-Tech receives word from multi-billion dollar tool company regarding review of multiple product ideas…“).
In spite of multiple attempts to follow up with our contact at this company, who is the Vice President of New Product Development, we were not able to obtain any closure throughout the last two-plus months. However, in response to yet another follow-up attempt late last week by the Manufacturer Response Team managing their Innovation Direct™ account, our contact at the company did let us know that there was no further interest in the four items they had been considering. However, in the same breath so to speak, he also requested that we put together a new batch of product ideas from the Invent-Tech database for his company’s review as soon as possible.
As we’ve said many times before in this space, temporary setbacks such as these are commonplace in the pursuit of inventions to market. We are encouraged by this company’s willingness to get right back to evaluating more items from the Invent-Tech roster and will begin preparing a new package for them immediately.
Join us Tuesday for more news!
October 22nd, 2007
Happy Friday, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with an update to wrap up our week. Earlier Friday, Invent-Tech finally received an e-mail response with feedback from our contact at an Innovation Direct™ company that we had most recently reported on in an April 25th entry (”Update: Invent-Tech receives preliminary feedback from Canadian tool manufacturer regarding Innovation Direct™ package…“).
As we’d explained in that posting, the company representative had mentioned to us at that time that after reviewing the preliminary, non-confidential information on the twelve product ideas that had been in their initial Innovation Direct™ package, they felt there were definitely “items of interest” in the group. However, we had made repeated attempts to obtain further updates from this company throughout the summer and early fall but had been unsuccessful.
Today’s communication revealed that the company has decided they would like to sign a non-disclosure agreement for two out of the twelve inventions from the group, so that they can review the detailed design information on each. Accordingly, the confidentiality agreement is already being forwarded to our contact for signature, and we expect that it will be fully executed by early next week. At that point, the Manufacturer Response Team member handling this situation will promptly forward them access to the detailed invention websites for the two product ideas.
We are pleased to wrap up our week with resolution on an issue we have been attempting to obtain closure on for quite some time. We will certainly bring you any and all updates regarding the interest this company retains in the aforementioned two items, here on the Invent-Tech Network.
Join us Monday as we kick off another great week!
October 19th, 2007
Good afternoon, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with an early Thursday update. Late Wednesday, we had sent an e-mail follow-up to the principal of an Ontario-based manufacturer that we had originally met at Licensing International 2007, and that we had most recently reported on in an August 7th entry (”Update: Invent-Tech receives communication, royalty questions from Licensing International 2007 lead…“). We were seeking their impressions on the preliminary, non-confidential information we’d sent them for 20 product ideas from the Invent-Tech roster.
The reply we received, which came earlier this afternoon, was that the company has changed their strategy towards category development and is not currently looking to license any intellectual property. Therefore, although this response does not indicate any particular rejection of the actual inventions the company had reviewed, it nevertheless produces an end result that is not ideal, even as it is very much representative of the reality of attempting to successfully commercialize a product idea.
The Manufacturer Response Team member managing this company’s account had spent considerable time earlier this summer putting together the information to send to the company, and then invested additional effort in conducting regular follow-ups and even answering the company’s detailed questions regarding royalties. However, in the end, the fact is that any company reserves the right to change their business model, and that is what has apparently transpired in this case.
Invent-Tech continues undeterred in its effort to find success for all of the inventions it represents however, so stay tuned to the Invent-Tech Network for the latest news!
October 18th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a Wednesday update. One of the benefits of the Innovation Direct™ program, our dynamic new product subscription service for manufacturers, is the long-term relationships that Invent-Tech is able to establish with manufacturers that are constantly searching for new product ideas. One such example is a company that we had originally met at the National Hardware Show’s 2006 edition, and to which we’ve been sending new product information to on a regular basis since.
The company is an Ohio-based outfit that has been in business over 35 years and specializes in a variety of household products, particuarly those in the cooking and baking categories. Although they have yet to display an advanced level of interest in any of the product ideas from the Invent-Tech roster that they’ve been sent details on previously, we are still committed to continuing to send them the information on items that match their categories of preference. Accordingly, a new package containing detailed information on 10 inventions was prepared and sent earlier Wednesday by the Manufacturer Response Team member managing their Innovation Direct™ account.
We will be eagerly awaiting this company’s feedback and will bring you all of the details as soon as we have them, here on the Invent-Tech Network. Check back with us!
October 17th, 2007
Good evening, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with our Tuesday update. In a September 17th entry (”Update: Invent-Tech set to receive modified prototype of previously licensed Tactical/EMS Leg Mate from manufacturer…“), we had reported that the Utah-based licensee of the Tactical/EMS Leg Mate, a professional medical accessory, had put together a new version of a prototype of the item that incorporated modifications requested by the inventor. As we also had noted in that posting, we were expecting to receive the unit within a few days so that we could review it first-hand and also obtain the inventor’s approval.
The prototype was indeed modified to perfection as far as the inventor and Invent-Tech were concerned, and we are now set to ship it off to the independent patent attorney that will be preparing the application for intellectual property protection for the invention. Pursuant to our contractual agreement with the inventor, Invent-Tech will cover all of the expenses related to the patent process.
Once the Tactical/EMS Leg Mate has achieved patent pending status with the United States Patent and Trademark Office, we will bring you visuals here on the Invent-Tech Network Blog. In the interim, we are pleased to be able to report that yet another product that Invent-Tech has assisted in licensing has taken a very important step towards what we hope will be successful commercialization.
Join us Wednesday for our mid-week report!
October 16th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, here to kick off another great week with an update on a potential licensing situation. The tailgating accessory from the Invent-Tech roster that we had most recently reported on in an October 5th entry (”Update: Invent-Tech facilitates successful conference call regarding tailgating accessory on Friday…“) is in the news again, as the Hong Kong manufacturing contact for the potential licensee of the product has already begun evaluating the possible manufacturing costs for the item.
We received a chain of e-mail correspondence earlier Monday from the potential licensee that included his manufacturing contact’s request for some additional dimensions from the inventor. As we had reported in the aforementioned entry, the inventor was to provide the exact measurements of his prototype, which he had done early in the week last week. However, the factory is requesting additional specific measurements on certain portions of the unit, and the inventor will be providing these shortly.
We expect that the factory will soon provide a final cost estimate to the potential licensee, which will in turn give us a much better idea of whether or not the product will be the subject of a licensing agreement. We are certainly keeping our hopes high and will bring you all the news as it transpires, here on the Invent-Tech Network. Check back with us frequently!
October 15th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, here with our Friday update. Updating a situation we had most recently reported on in a October 9th entry (”Update: Invent-Tech to faciliate conference call this Friday with prototype developer and inventor of sports accessory…”), Invent-Tech hosted a successful conference call Friday morning with the inventor of a sporting goods accessory from the Invent-Tech roster and a prototype developer that will be assisting in the further development of the concept at the request of a potential licensee.
As we’d explained in the aforementioned entry, the idea for the conference call had come about as a result of a series of questions that the prototype developer had come up with after reviewing the invention website for the product idea. The inventor was able to provide his perspective to the developer on matters related to the material and potential design of a prototype of his concept. It was certainly helpful that the inventor is a former football coach at the collegiate level and had originally devised a rough sample of the product during his tenure that he utilized with considerable success.
Once the call was concluded, the prototype developer agreed to get back to us by early next week with an idea of the steps and the costs involved in making a working model of the unit. Eventually, the goal is to provide the potential licensee of the invention, which is located in India, with the sample for their review and final decision.
Today’s events were a great way to wrap up another succesful week at the nation’s preeminent inventor assistance firm. Join us Monday as we do it all over again!
October 12th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, chiming in with our Thursday update. We have received an update via e-mail from the principal of an overseas manufacturer that has already licensed the Multi-Pack Maxi from the Invent-Tech roster, and that has also maintained an advanced level of interest in another feminine hygiene product, a situation that we originally reported on way back on March 8th (”Update: Invent-Tech secures written advanced level of interest from overseas company in feminine hygiene product…“).
We had requested the latest news on the company’s work with this second product idea since we had not heard anything concrete for quite some time. We were pleased to learn through our contact’s correspondence that he has researched and identified a material currently being used only in the medical field, but that would work well in the capacity he plans to use it in for the inventor’s product. The material, which is reportedly inpenetrable, would be intergral to the functionality that both the inventor and the company would ideally want to achieve with the item.
Our contact went on to inform us that he is currently relocating his office space and therefore has the machinery he would need to test the material on already stored away for the move. According to his e-mail, our contact expects to be able to perform the work necessary early in 2008 and update us from that point on his long-term plans for the product.
We are encouraged by what appears to be a potential licensing situation, even if matters are in somewhat of a holding pattern at this time. As soon as further developments occur we will certainly bring you all the details, here on the Invent-Tech Network!
Join us Friday for end-of-week report!
October 11th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with our Wednesday update. It has been some time since our Innovation Direct™ program has been “in the news” so to speak, but a package has recently been put together and sent out to a company that has already been with us for several months.
The firm is one that we had originally met at the Hardware Show and Construction Products Expo in Puerto Rico last February, and that we had most recently reported on in an April 19th entry (”Update: Feedback received by Invent-Tech from Puerto Rico trade show lead regarding latest Innovation Direct™ package…“). As we’d explained in that posting, we had been perservering in our efforts to have this company review as many products as possible, and had already sent them two Innovation Direct™ packages at that point. They were not interested in any of the items in those first two batches and had been out of touch with us for some time, but had recently responded to an inquiry of ours regarding whether they were prepared to review a new group of items from the Invent-Tech roster.
Accordingly, the Manufacturer Response Team member that has handled their Innovation Direct™ account from the onset put together the access to the detailed design information on a group of new lawn and garden-related inventions as per their request. Incidentally, it is possible for Invent-Tech to supply this company with confidential details on the product ideas directly because of the fact that the company has already signed a non-disclosure agreement that remains on file and covers any material exchanged between them and Invent-Tech at any time.
Our contact at this company did explain to us that she was going out of town for the next several days and would review the information in detail when she returned. We are hoping that the third time will be the charm with this company and will keep you posted on their impressions, here on the Invent-Tech Network.
Check back with us on Thursday!
October 10th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with a Tuesday update. Earlier Tuesday, it was determined that Invent-Tech will be hosting yet another conference call designed to further a product idea from our roster that is already the subject of an advanced level of interest from a potential licensee. The call will involve an invention that we had most recently reported on in a September 18th entry (”Update: Invent-Tech set to contribute toward further development of sporting goods invention…“).
As we’d mentioned in that posting, Invent-Tech was going to explore the possibility of contracting a prototype developer to assist in the creation of detailed drawings and possibly a physical prototype for a sporting goods product from the Invent-Tech roster that an overseas company had signed an exclusive developmental agreement for. Accordingly, we have made contact and shared detailed design information regarding the product with a New York-based firm that had contacted Invent-Tech several months ago regarding their services. After reviewing the invention website on Tuesday, the developer informed us that they feel a prototype of the item would be very simple and cost-effective to put together. They also explained that they had a multitude of questions for the inventor regarding materials and design, and so all parties agreed that a conference call would be the best manner in which to address these.
The call is scheduled for this coming Friday in the morning hours, and we are certainly hopeful that it will be a major step in the positive progress of this product idea towards eventual licensing. As always, we will bring you all of the details regarding the call here on the Invent-Tech Network as soon as it transpires. Stay tuned!
October 9th, 2007
Hello, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with an update to kick off our week. Earlier Monday, we received feedback from our West Coast-based industry partner on preliminary, non-confidential information we had sent him on hundreds of kitchen and cooking items from the Invent-Tech roster at his request.
Our industry partner had explained to us that several companies he was working with were actively seeking inventions in this category, and asked the Manufacturer Response Team to round up as many product ideas as possible. We complied with his request by sending him the Press Release and Product Highlights for all active items in our database that were labeled as either kitchen or more specifically, cooking-related. Our industry partner took the weekend to look over the material and already had a list for us by Monday of which ones he would be interested in reviewing the design details of!
It is prompt turnaround time like this that can greatly benefit a considerable number of inventions on our roster. Naturally, we are already beginning the process of preparing to send our industry partner the access to the invention websites for the items he selected, and eagerly await his impressions of the information he reviews on them. As soon as we have further feedback from him we will bring it to you, here on the Invent-Tech Network.
Join us Tuesday for another great day!
October 8th, 2007
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