The Lil' Sport Trainer invention was licensed to an off shore
manufacturing company out of Garden City Park New York. A
well 'above average' invention royalty was negotiated by Innovative
Licensing & Promotion, Inc. Here are a few of the details:
Upfront Fee:
No, Product Samples Supplied in Advance
Instead.
Royalty:
16.6% of distributor cost.
Right to Audit:
Yes
Right to Quality Control:
Yes
Term:
5 Year/Renewable
Performance Commitment:
Company will meet any orders created in
distribution.
The Tiki Board invention was licensed by Innovative Licensing &
Promotion, Inc. to an Eastern Canadian Manufacturing Company
who specializes in the production of 'Fun Products'
Upfront Fee:
No
Royalty:
$11.00/unit
Right to Audit:
Yes
Right to Quality Control:
Yes
Performance Commitment by Company:
45,000 units
over 5 years.
Term:
7 years
Changes:
Product name was
changed from Stealth Board to Tiki Board
Innovative Licensing &
Promotion, Inc. licensed the TP Lock to one of the
worlds largest manufacturers and distributors of
children's products. This product invention is featured on
Safety 1st website as
Toilet Paper
Guard.
The following is an outline of
the license arrangement:
Bow Kaddy is an Innovative Licensing & Promotion, Inc.
Patented invention. The invention has been developed and sold
into the Western Canada Market. Unique to most invention
ventures, the inventor himself has developed a company and
produced, promoted and marketed the product successfully.
