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Wayfair Group was approached by an inventor with a wooden toy which he had been unable to licence through his own efforts.
We researched the market and identified a UK company, a leader in the relevant sector of educational toys, and through our extensive network obtained a personal introduction.
A difficulty was that the inventor had only a GB Patent for cost reasons, but together with the toy company and a Patent Attorney, we were able to identify additional novelty in the construction of the toy for which we filed an additional Patent Application which had full international potential. The toy is manufactured in the Far East and marketed world wide by the UK based licencee.
By the time Wayfair Group was contacted to assist with the project, the inventor team had all but exhausted their resources and had failed to negotiate an agreement with a major Defence Contractor.
Following discussions we had with the Defence Contractor concerned we were able restart the negotiations. Simultaneously we got their bankers to agree to extend their facilities to allow time for agreement to be reached.
We disentangled the historical financial investors in the technology, which were a mix of academic institutions and other financial investors, in order that a licence agreement, including a technology transfer and a joint venture development contract, could be successfully completed.
The mobile phone accessory was well developed and a Patent Application filed when Wayfair Group was engaged to seek a licencee.
Using research and through using our extensive list of contacts we were able to make presentations that led to interest from a Taiwanese manufacturer who set about work on tooling. It became apparent that the design could be improved, both for user benefits, and also for manufacturing cost reasons, with the result that the Patent as filed was no longer effective. Under the licence agreement, a new Patent Application was filed giving full protection and the product is available world wide.