In November 2000, Kenneth Herring received a patent for an Attachable and Folding Instrument Case Stand for Stringed Instruments. After developing prototypes of the invention and a pictorial portfolio, he began contacting companies that might be interested in licensing his product. By mid-2003, he was having little success in finding a licensee. Technology Outreach at Nussbaum assisted Kenneth in commercializing his product by increasing his odds of finding a company to license his product. TON researched the market and conducted a prior art search to determine whether competitive products had been developed in the years since Kenneth received his patent. Research also included an interview with a university professor in charge of the “strings” program at UNCG’s School of Music, and with industry personnel regarding channels of distribution. A “Technology Opportunity” piece was prepared describing the unique features and benefits of the invention, including detailed pictures, and was sent to an extensive list of prospective licensees. Armed with knowledge about his product’s market, a database of prospects, and a professional promotional piece, Kenneth is busy pursuing a targeted search for a licensee. When one is found, TON will tap university technology transfer and commercialization resources to advise Kenneth regarding licensing agreements. |