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Updating a product under ILP

inventordesigner's Avatar

Hi all...!

I have a patent-pending product idea, ToastBaker, currently enrolled in the ILP, and the six-month exclusive right-to-license period expires soon, on 4/11/19. When placed under ILP, ToastBaker was protected by a provisional application. Within the last two weeks, I've uploaded a copy of my utility patent application, which includes expanded and significant new claims, and it’s imperative that these claims become part of any presentation/pitch. I emailed questions@edisonnation.com directly, informing EN of this new upload’s importance. However, I've gotten no email response, and there's no indication on my summary page that the upload has been reviewed; the page still shows August 2018 as most recent update.

Almost immediately upon enrolling in the ILP, ToastBaker had 40% interest from one potential licensee, and although the interest level has dropped to 10%, that same (I assume it’s the same…) party has maintained interest. I’m confident that the broadened scope of claims will make the ToastBaker patent more desireable and valuable, and so, with less than month left on our ILP agreement, it’s critical that the utility application be reviewed ASAP. I’m feeling urgent, and without any feedback from EN, I don’t know what’s going on.

Speaking for myself, and probably others as well, in the absence of regular feedback from EN, it’s lonely out here, especially for us ILP participants. Because a provisional or utility filing, and a fee, are required for joining ILP, we’re clearly very invested in our product idea. And once the ILP clock starts, we’re metaphorically pacing around the living room anxious for news…!

But for me, the current status display is insufficient; I could see the “percent of interest” wheel as part of a more detailed dashboard. For instance, develop and show a series of stages that the evaluation goes through with a potential licensee, similar to what’s done with initial idea submissions. I’d also really appreciate feedback from potential licensees during the evaluation period, so that design changes could be made to address any concerns, and make the product more attractive.

If ToastBaker is not selected for licensing, as of 4/12/19, the six-month ILP exclusive period expires, and all rights revert to me, correct? And ToastBaker could still be submitted to an appropriate future search?

I assume there’ll be feedback at the end of the, as per EN guidelines; will I also know who was pitched?

Eager for EN’s response…!

Thx

Steve Goldberg

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sgdromms's Avataren_staff_badge

Steve - Please know that submissions are reviewed on a regular basis for updates within our system. 

The system also does provide an Internal Feedback system that our team tries to use to communicate with innovator during the process (typically this is used if situations arise where additional information is needed, or questions arise from a party that is reviewing the concept for licensing).

You raise an interesting point that we will look at on the status report "percent of interest" wheel by mentioning the stages that evaluation is going through with potential licensee, The challenge that presents is that Edison Nation does not control the internal review process that various licensing partners may choose to use for their organization. The wheel was created as a way that could show a consistent process from the EN side of any product review, knowing that every client may have different timeline and steps they engage in on their side. We will look more into your comment and thoughts though to see if there is a way to evolve that moving forward.

IF the 6 month window does happen for any idea, the innovator is free to move forward in whatever manner they choose to for their concept. All rights revert back to do so. There is feedback provided and while we will provide information as to companies/ and any feedback that was provided, we do not provide specific names of a person/contact info that it was presented to. Hopefully you understand the reason that our partners request to not have individuals names shared.

Hope this provides some insight.     

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inventordesigner's Avatar

Great, thank you. I can understand EN's position, given the different review processes at different companies, as well as maintaining the confidentiality of your contracts there. I am pretty eager to hear who is being pitched, though.

As for the status display, I suggest, if possible, for EN to provide us inventors with ongoing feedback from pitchees, maybe bi-monthly, so we'd get two updates during the six-month ILP exclusive period? I'm constantly evaluating and refining the design and features of ToastBaker, and ongoing, real-world feedback like that would help guide the refinement process.

Here's hoping that the one interested party decides to move forward with ToastBaker...!

SG

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