Update: Innovation Direct™ receives feedback from Massachusetts-based Innovation Direct To Industry™ company…
Hello, Juan C. Blanco, Innovation Direct™’s Director of Product Licensing, checking in with our latest update regarding a situation we had most recently reported on in an October 2nd entry (“Update: Innovation Direct™ seeks update from Massachusetts-based Innovation Direct To Industry™ company on 3 inventions under review; exclusive developmental licensing agreements proposed…“). As we’d explained in that posting, we had sent an e-mail to our contact at the Massachusetts-based company that was reviewing detailed design information on 3 product ideas from their initial Innovation Direct To Industry™ package. Along with the correspondence, we had also sent an exclusive developmental licensing agreement proposal for the 3 items.
Earlier Monday, our contact at the company indicated in an e-mail response that the company continued to have an advanced level of interest in 2 of the 3 product ideas, but that for the time being the company was putting a moratorium on any new product launches due to the state of the overall economy. As a result, the gentleman explained they would not be signing the agreements granting them exclusivity, so as not to get in the way of other potential opportunities for the inventions.
We were pleased to see that our contact did emphasize at the conclusion of his e-mail that they would certainly be revisiting the inventions once they began looking for new products, and were hoping they were still available at that point. Although their overall response was certainly not the ideal one, we were encouraged by the openness the company expressed regarding the future.
Stay tuned to the Innovation Direct™ Blog for all updates regarding this business relationship!