Innovation Direct™ inventor’s tool invention receiving interest from overseas manufacturer…
Good day, Juan C. Blanco, Innovation Direct™’s Director of Product Licensing, set to kick off another terrific week with a report on an Innovation Direct™ inventor’s tool idea and the interest it is receiving from a China-based manufacturer. Late Sunday evening, the inventor and the manufacturer both communicated with Innovation Direct™ via e-mail regarding the company’s interest in learning more details about the concept.
The Innovation Direct™ representative managing this situation has already replied to the manufacturer and clarified that the inventor is ultimately seeking a product licensing agreement for his invention, as opposed to any type of contract manufacturing arrangement wherein he would have to pay to have his product made. We have found it effective to offer these types of detailed explanations with overseas companies, as the reality is that many of them are unfamiliar with the investment on their part that a licensing agreement entails, and often misinterpret an inventor’s purpose in contacting them .
We now await the company’s reply and will proceed with disseminating further information about the product idea if they do confirm they understand that a licensing agreement is the goal with the invention. We will have all updates to this situation for you here on the Innovation Direct™ Blog. Check back with us!