(1888PressRelease)
April 26, 2008 - ITT Licensing™, a South Florida-based leader of product licensing services for a decade, is proud to announce it has secured a licensing agreement for the Tailor's Bow Tie, a fashion accessory that it has represented for over 3 years.
Andy and Sara M., the Miami, Florida-based husband-and-wife co-inventors of the Tailor’s Bow Tie, had actively been pursuing the successful commercialization of their invention since late July 2004. With ITT's assistance, they had contacted close to 150 manufacturers in the apparel industry about their concept, which is a specialized design of a belt to be used by women.
The licensee of the product, a Florida-based manufacturer that produces a variety of women’s apparel, first took an interest in the Tailor’s Bow Tie back in early September of 2007 when they reviewed the preliminary, non-confidential information on the product idea. After having signed a non-disclosure agreement, they were provided access to the detailed design information for the concept in October 2007. Their interest enhanced after having reviewed this information, the company agreed to enter into a short-term exclusive developmental agreement for the item in mid-November 2007.
In late February 2008, the gentleman that serves as ITT’s contact with the company agreed to review a licensing proposal for the product idea, and one was promptly prepared and sent by the ITT representative that has been handling the company’s interest since its onset. This led to the full execution of the agreement by licensee and licensor after both parties reviewed and were satisfied with the agreement terms.
The licensing agreement is for multiple years and will pay an extremely competitive royalty rate, marking yet another successful licensing negotiation for ITT Licensing™ on behalf of one of its inventor clients.
About ITT Licensing™: ITT Licensing™ is the trade name for International Technology Transfer, Inc., a South Florida based leader in the field of new product licensing and intellectual property transfer for more than a decade.
Contact:
Juan C. Blanco, Director of Product Licensing
International Technology Transfer, Inc.
(786) 232-6133 Voice
(305) 238-5647 Fax
press ( @ ) ittlicensing dot com
www.ITTLicensing.com
