Update: Innovation Direct™ receives signed exclusive developmental agreement on tool invention from New Hampshire-based Innovation Direct To Industry™ company…
Good afternoon, Juan C. Blanco, Innovation Direct™’s Director of Product Licensing, checking in with the first of several updates on a busy Thursday. We begin with very positive news, as the New Hampshire-based Innovation Direct To Industry™ company we had just reported on in an April 29th entry (“Update: Innovation Direct™ receives feedback from newest Innovation Direct To Industry™ company on 10 inventions reviewed…“) has opted to sign an exclusive developmental agreement on the one tool product idea from the group they reviewed that they retained an interest in.
As we’d mentioned in the aforementioned posting, our contact at the company, while certainly intrigued by the potential of the invention, had expressed concern that the current design could be in conflict with an existing patent. Innovation Direct™ had already responded by offering to have an independent registered patent attorney conduct an analysis of the existing patent’s claims and the product idea’s current design to determine whether the inventor would need to make some changes in order to avoid violating existing patent rights.
Earlier Thursday, our contact at the company decided to take Innovation Direct™ up on the offer and returned the exclusive developmental agreement they’d been sent with the detailed design information. The inventor has already been informed of the developments via e-mail by the Innovation Direct™ representative managing this situation, and was sent the agreement for signature in today’s mail. In the meantime, the independent registered patent attorney that will be performing the requested analysis has been given the go-ahead by Innovation Direct™ to initiate the process, and has informed us that he will have his conclusions completed and in writing by the end of next week.
We are certainly enthused by this invention taking the next step toward potential licensing. As soon as we have any further developments with this ongoing situation we will bring you the details, here on the Innovation Direct™ Blog. Check in with us often!