Innovation Direct™ representative conducts conference call with manufacturer and inventor of bedding accessory already subject of exclusive developmental agreement…
Good evening, Juan C. Blanco, Innovation Direct™’s Director of Product Licensing, checking in with our update for Thursday. Earlier this afternoon, an Innovation Direct™ representative facilated a conference call between the principal of a Florida-based bedding manufacturer and an Innovation Direct™ inventor whose bedding accessory has been the subject of an exclusive developmental agreement with the company for several months.
The call take place primarily at the manufacturer’s request, as he had explained he had some updates to provide the inventor and Innovation Direct™ with regarding the due diligence he has been performing on this invention. The manufacturer went on to explain this afternoon that he had been waiting on some quotes from a factory in China that he would potentially use to mass produce the item were he to decide to license it, and that he had now obtained the numbers, which looked favorable.
He also emphasized that his next step over the next several weeks before making a decision was to have some of his company’s sales representatives canvass some existing distributors and retailers they did business with regarding the product idea to get a feel for how receptive they would be to carrying it. Additionally, the principal of the company himself plans to visit the owners of two high-end hotels that he knows personally in order to get their feelings on the item and gauge the interest they’d have in purchasing it in mass quantities for the thousands of guest rooms in their facilities.
All parties agreed to reconvene in early May on the telephone for a conference call that will likely be instrumental in the future of the invention with this particular manufacturer. Stay tuned to the Innovation Direct™ Blog for updates on this and many other potential licensing scenarios!