Innovation Direct™ negotiates licensing agreement for inventor’s personal health accessory…
Good day, Juan C. Blanco, Innovation Direct™’s Director of Product Licensing, checking in with a very positive update to kick off our week. Innovation Direct™ is very pleased to announce the signing of a licensing agreement between inventor Susan C. of Courtenay, British Columbia, Canada and a Canadian company for her personal health accessory, the Allergy Aware Disc.
In June 2007, Susan had approached Innovation Direct™ with the preliminary details on the Allergy Aware Disc. Essentially, the inventor was striving to create a foolproof way to insure that wait and kitchen staff at restaurants knew about each patron’s food allergies when applicable. This way, the chance of someone suffering an adverse and potentially life-threatening reaction to food they were not supposed to be exposed to could be eliminated. The inventor entered into her stint with Innovation Direct™ with a head of steam and deep belief in her idea, and her positive attitude seemed to pay dividends in record time. Only a few months into the invention assistance campaign for her product idea, Susan, through her diligent pursuit of opportunity, was integral in getting a licensing agreement secured. Susan began a dialogue with a company capable of assisting her with the manufacturing, marketing, and distribution of her invention and alerted Innovation Direct™ after discussions reached a certain point. Shortly thereafter, a licensing proposal was quickly put together and sent to the inventor and licensee for review. The document was then returned to the Innovation Direct™ offices fully executed a few days afterwards, making the agreement official.
The agreement is for multiple years and contains a royalty rate competitive with those currently being paid in the industry. We are certainly pleased to kick off our week with a report of this nature and invite you to join us Tuesday for more news!