Update: Innovation Direct™ receives communication from India-based manufacturer regarding prototype of sports accessory; licensing proposal to be sent by Innovation Direct™ in coming days…
Hello, Juan C. Blanco, Innovation Direct™’s Director of Product Licensing, chiming in once again, this time with an update on a situation we had most recently reported on in a June 5th entry (“Update: Innovation Direct™ set to ship prototype of instructional sports accessory to potential licensee…“). As we’d explained in that posting, Innovation Direct™ was going to be shipping the professionally made prototype of a sports accessory from the Innovation Direct™ roster to the India-based sporting goods company that had signed an exclusive developmental agreement for the invention several months ago.
We are pleased to report that we received word from our contact at the company earlier this week that they had received the prototype and would be conducting several performance tests with it. Additionally, at the company’s request, Innovation Direct™ was able to forward them the technical drawings of the prototype that the developer has utilized in preparing the physical prototype.
In the interim, the representative indicated that he would be very receptive to reviewing a licensing proposal that the Innovation Direct™ representative suggested our company would want to put together at this stage, so as to begin familiarizing the potential licensee with the typical terms and conditions involved in such an arrangement. Accordingly, that document will be prepared and sent to the company for their review within the coming days.
Naturally, we will keep the readers of the Innovation Direct™ Blog updated every step of the way in this space with respect to any developments. Stay tuned!