Update: Innovation Direct™ participates in informative phone call with ITW Space Bag representative as scheduled; company’s NDA reviewed, executed…
Good evening, Juan C. Blanco, Innovation Direct™’s Director of Product Licensing, checking in a report on a situation we’d last reported on in an entry yesterday (“Update: Innovation Direct™ receives response to Innovation Direct To Industry™ e-mail from ITW Space Bag; introductory phone call to take place tomorrow…“). Earlier Thursday, the Innovation Direct™ representative that will be managing the Innovation Direct To Industry™ account of ITW Space Bag participated in a phone call with the company contact as had been scheduled.
The conversation was certainly an informative one, as our colleague had the opportunity to provide Space Bag’s representative with an overview of the level of development the inventions we represent typically have, our confidentiality policies, and a general summary of our typical licensing agreement terms. In fact, after the conversation concluded, our colleague did sent the company contact a written synopsis of what some of those terms were.
In return, the Space Bag representative elaborated on their company business model and product category strategies going forward. The manufacturer also provided a copy of their non-disclosure agreement after the conclusion of the call, which our colleague reviewed, signed, and will return via fax shortly. This document is expected to serve as a “permanent” NDA between Space Bag and Innovation Direct™ that will allow us to provide them with access to the detailed design information on a product idea from the moment we designate it to be compatible to Space Bag’s specified product desires.
Check in with us on the Innovation Direct™ Blog for the latest news on our evolving relationship with this company!