More thoughts on the invention convention

I am at the Minn airport waiting to head home after attending half of day 2 of the convention. Today was busier and I think we learned more and made more progress and connections today. We had 2 licensing agents that came by and wanted us to seriously consider submitting to them. One is Ron Docie, the guy who wrote "The Inventor's Bible". Paul doesn't like him so much because he would only look at Paul when speaking to both of us (thus seemingly minimizing my importance...and we know how important I am ;) ). But after the second or third time he tracked us down he was way more interactive with me. He has brought products to QVC, Walmart, etc, etc. Well known and respected celeb among these inventor types. He is friends with potential licensing agent #2 and when I tell him we're still deciding who to go with he tells me he has friends in "made for TV" which I don't know much about but I guess it's a big deal. He thinks the machine has real potential for
home gym market. He never pointed out any fatal flaws of our design. This concerns me a bit. His commission is 20% of our licensing award if he can get you one.

The second guy is a young professional and their firm is very highly successful and recommended as a "good guy" in this field (Lambert & Lambert). In fact I loved that he came by and instantly recognized some of the potential fatal flaws of the machine and talked with us about it. He knows people in the exercise machine commercial universe. He said good things and realistic things. Their firm does not accept all ideas pitched their way. They pick those submissions with the best potential because they have a team of creative brainiacs who take it and run with doing all it takes to bring it to a license agreement. Then they take 25-30% of your licensing up-front payment if they're successful in getting you one. But these guys do everything from industriL design concepts to protoypes to sales pitches. Basically polishing your concept, making it marketable, then making the phone calls for you.

Paul and I have lots to talk about but first step is gettin an updated market survey. Due dilligence.

But first our baby dances tomorrow! And I gotta get my head out of this invention stuff and get my NASA head back on. I have a presentation to write for the conference next Thursday.