Update: Innovation Direct™ receives indication of further interest in cleaning accessory from Florida-based company; signing of exclusive developmental licensing agreement appears imminent…
Good afternoon, Juan C. Blanco, Innovation Direct™’s Director of Product Licensing, back once more with another intra-day update on a quickly developing situation. Earlier in the day today, we had reported on a Florida-based manufacturer gaining access to the detailed design information on a cleaning accessory after having signed a non-disclosure agreement for it (“Update: International Technology Transfer receives signed non-disclosure agreement for cleaning accessory from Florida-based manufacturer; access to detailed design information sent…“). We are pleased to report that subsequent to that development, the Innovation Direct™ representative managing the company’s interest engaged in a telephone conversation with his contact regarding the continued interest the manufacturer retains in the product idea after having reviewed the detailed design information contained on its website.
The manufacturer had specific questions about royalties and licensing agreements that were promptly answered by our aforementioned colleague. Additionally, the company representative requested more information on the terms and conditions surrounding the exclusive developmental licensing agreement that we had included along with the access to the detailed design information about the invention. After having all of their inquiries answered to their satisfaction, the manufacturer requested that we confirm that the inventor would be willing to send them a physical prototype before deciding to sign the agreement.
Accordingly, we have already reached out to the inventor and left a message for him requesting a return call, so that we can go over the latest developments. As soon as we have another update to this situation we will bring it to you, here on the Innovation Direct™ Blog. Check back often!