Invent-Tech receives positive news from company evaluating kitchen accessory; advanced level of interest secured on tool invention…
November 28th, 2006
Greetings, Juan C. Blanco, Invent-Tech’s Director of Product Licensing, checking in with our Tuesday evening update. We received an update today from the company who has been further evaluating and working with a kitchen accessory from our roster and also were able to take the next step with a company that has been expressing interest in a tool invention for some time now.
The scenario involving the kitchen invention is the one that we initially reported on in a November 6th entry (”Invent-Tech secures advanced level of interest in kitchen, cigar accessories; Manufacturer Response Team staff returns to office following AAPEX 2006…“). As we had mentioned in that posting, the company was considering creating some prototypes as the next step in their evaluation of the idea as a possible long-term fit for their company’s product line. We now have received e-mail confirmation from them that they indeed have created several prototypes and are still doing some important research on what the best material might be to utilize for mass production. This of course is a vital consideration for any manufacturer considering a product for possible licensing, as the type of material used carries an enormous amount of weight with regards to manufacturing cost and subsequently, profit margins.
We will continue to bring you the latest on what appears to be a very positive and potentially successful licensing situation, here on the Invent-Tech Network.
The news regarding the tool product from the Invent-Tech roster is equally uplifting. We had initially reported on this situation back in a November 14th entry (“Invent-Tech secures advanced level of interest in writing on fan accessory; serious dialogue taking place with company over tool invention as well…”). We are pleased to report that we received e-mail confirmation from the company’s representative today that they have put their interest and intent to research and possibly develop the product further in writing. We are certainly hopeful that they will eventually reach the conclusion of wanting to sign the draft of the licensing agreement they have already been sent by Invent-Tech, but only time will tell. We will keep you posted on any and all positive developments with this situation here on the Invent-Tech Network.
Join us tomorrow for more exciting news!