Update: Innovation Direct™ receives feedback on detailed design information for industrial lifting accessory from Illinois-based manufacturer…
Hello, Juan C. Blanco, Innovation Direct™’s Director of Product Licensing, checking in once again with an update regarding a situation we had reported on most recently just yesterday (“Update: Innovation Direct™ receives signed non-disclosure agreement from Illinois-based manufacturer for industrial lifting accessory; access to detailed design information sent…“). We have received feedback from the Illinois-based manufacturer that was the subject of that entry regarding the detailed design information they’d reviewed on an industrial lifting accessory from our roster.
As per the e-mail communication received from the company’s vice president, they will opt not to go any further with the invention. The main reason cited for the decision was the feeling that the invention’s target market was already saturated with too many items that performed very similar functions and as such, made taking it on a considerable risk for the company.
We certainly appreciate this individual’s opinion but of course, will continue undeterred in our quest to achieve licensing success for the invention. If and when any developments occur with the product idea we will certainly report on them here on the Innovation Direct™ Blog. Check back with us often!