product samples

For a member:

When a licensing rep likes a product and then asks for multiple samples, instead of just one prototype, why is this?
Do they generally send out to more than one company at the same time?

Thank You!

Sally Hopkins wrote:

For a member:

When a licensing rep likes a product and then asks for multiple samples, instead of just one prototype, why is this?
Do they generally send out to more than one company at the same time?

Thank You!

Sally, I think what happens is the Licensing Rep probably keeps one to evaluate for marketing etc, and sends the others to Manuracturing Company's for pricing and Retailer's to possibly supply to. Companys also send products out to be evaluated by focus groups.

Thanks for that question and answer, I was wondering that, myself. Do these licensing reps also approach more than one company at a time, to see who can produce the better deal?

Thanx!

Typically, when an agent thinks a product could secure a good licensing deal, they will want to "shop it around." A good, well connected, agent will have multiple contacts in the industry and can negotiate the best deal he or she can with those contacts. Sometimes it is difficult to get more than one prototype sample from a new product design. You will want to try and secure at least 3 to give to an agent to get some good solid interested parties. If this is not possible, and only one is available, be prepared for the process to take more time.

Good Luck!
Kim Babjak

Thanks for these answers Gizmo and Kim! They sure can get an inventor excited!