Lambert & Lambert is Gearing Up For Trade Shows in 2013 - CES, PGA, Toy Fair and More!

Minneapolis, MN.  Lambert & Lambert (http://www.lambertinvent.com) is gearing up for the 2013 trade show season.  The major shows coming up in next couple months are listed below, but for a comprehensive list, visit our website at http://lambertinvent.com/tradeshows.php.



International Consumer Electronic Show

Dates:  January 8-11, 2013
Location:  Las Vegas, NV
Overview: The CES is put on by the Consumer Electronics Association, which is the preeminent trade association promoting growth in the $165 billion U.S. consumer electronics industry. It is the ultimate technology show with over 120,000 attendees last year.


PGA Merchandise Show

Dates:  January 23-26, 2013
Location: Orlando, FL
Overview:  The PGA Merchandise Show has evolved into comprehensive multi-purpose business platform since its roots in parking lots back in 1954. In addition to nearly 1000+ vendors representing every business sector of golf from market leaders to start-up companies.

 
International Toy Fair

Dates:  Feb 10-13, 2013
Location:  New York, NY
Overview:  Toy Fair is the largest international toy trade show in the Western Hemisphere where the newest and hottest products in the children's entertainment marketplace are exhibited.  It is the premier meeting place for manufacturers, retailers, importers, licensors and reps from around the world.


Have An Invention?

If you are an inventor and would like Lambert & Lambert to represent your product for marketing and licensing at one of these trade shows (or any others), visit our website or contact us to learn more. 


About Lambert & Lambert:
Lambert & Lambert is a contingency-fee based invention marketing and patent licensing firm that specializes in consumer products. Based in Minneapolis, Minnesota, Lambert & Lambert provides services to inventors, product developers and small companies throughout the world and currently has products selling in numerous retailers.

Contact:
Tim Sherman, Director of Customer Service
Tel: 651-552-0080   |   Fax: 651-552-7678
info@lambertinvent.com

Links:
Lambert & Lambert Homepage   Lambert & Lambert Invention Blog
Lambert & Lambert on Facebook   Lambert & Lambert on Twitter 

Snatching Defeat From the Jaws of Victory: Cautionary Stories For Inventors

Part 3 of 3
By: Trevor Lambert, President

Moral of the Stories

As I look back at these and many other heartbreaking stories it is difficult not to get depressed and frustrated all over again.  However, my goal is not to paint all inventors as unreasonable, greedy prima donnas.  Rather, my hope is that these extreme cases of inventor mistakes will provide guidance for budding inventors on what to avoid.

When looking at these three stories, you should notice that none of the mistakes the inventors made had anything to do with the development of the product.  The patents were filed or issued, the prototype was well designed and the marketing message was on target; but still the deal did not go through.  In each case the mistake was more mental or emotional during the interaction with the licensee.

Over the years, I’ve noticed the volumes of available instruction for inventors on how to develop their invention, but very little can be found on what the inventor can expect when they engage in talks with the licensee.  In an attempt to fill that void, let me make a few observations that may provide some insight.

First and foremost, an inventor needs to realize that licensing requires a level of synergy between the company, invention and inventor.  The invention should fit in with the company’s product line and areas of distribution, and the two parties need to have a positive working relationship.  The company is considering entering into a long-term relationship to develop and market your invention and wants to be reassured that the inventor is stable.  It may be tempting for inventors to think the company is trying to steal or knock-off their invention, but resist that urge.  In all my years of pitching products I have found that the companies behind the recognized brands in any industry are usually very trustworthy.  Of course you should protect yourself by filing the patent, etc., but do not question their intentions or let suspicious thoughts cloud your judgment.

Secondly, it is critical that inventors realize that they are not negotiating a used car purchase.  The company on the other side of the table is composed of sophisticated professionals and thus any demand, term or condition should be backed with solid supporting data.  In particular, carefully consider what you are hoping for related to the royalty rate, minimum sales volumes and the advance.  Do not pull numbers out of the sky; rather perform market research so that your offer is within the range for that industry. 

Finally, remember that putting together these deals usually takes time – months not weeks.  Depending on how developed your product is, the company will be investing a large amount in tooling, engineering, packaging, marketing, inventory, etc., and they will likely want to consider the product carefully from a number of different angles.  They may ask you if they can pitch the product to some of their larger customers (or retailers) before licensing, or perform other due diligence, such as a focus group or prior art search.  This is a good sign so be patient, yet at the same time follow up and try to get the company to provide you with a timeline and benchmarks for putting the deal together.

In the end, remember the three-Ps.  Remain positive, professional and patient and you can avoid the self-inflicted heartbreaks that can happen to inventors.  If you do this the relationship with the licensee will be one of mutual-respect that will pave the way for a successful license deal.

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About Lambert & Lambert:
Lambert & Lambert is a contingency-fee based invention marketing and patent licensing firm that specializes in consumer products. Based in Minneapolis, Minnesota, Lambert & Lambert provides services to inventors, product developers and small companies throughout the world and currently has products selling in numerous retailers.
Contact:
Tim Sherman, Director of Customer Service
Tel: 651-552-0080   |   Fax: 651-552-7678
info@lambertinvent.com

Links:
Lambert & Lambert Homepage   Lambert & Lambert Invention Blog
Lambert & Lambert on Facebook   Lambert & Lambert on Twitter

Snatching Defeat From the Jaws of Victory: Cautionary Stories For Inventors

Part 2 of 3
By: Trevor Lambert, President

Story #2 – Greed

We were representing an inventor who had invested about $25,000 in his new product.  After a trade show, XYZ Company expressed keen interest in licensing and wanted to move forward.  They had an extensive product line in Home Depot, Lowes, Ace and many other retailers and invited us to visit to explore putting together a deal.  Prior to the meeting I outlined some reasonable expectations for our client and he never questioned them.  At the meeting, the CEO, VPs and others were prepared to move forward and we reached consensus on many aspects of the agreement.  For some reason though, during a break in the meeting my client tells me that he now wants an advance of $750,000!  I tell him that with only $25,000 in development and no sales history, there is absolutely no way we can reasonably ask for this without threatening the deal entirely.  In the end he would only reduce the asking advance amount to $400,000 and told me to make the presentation. 

As you might expect, XYZ Company passes without even providing a counter offer.  Just like if someone made a ridiculous offer on your house, you would simply ignore it – and if they come back with a reasonable offer you would play hardball because their initial offer was insulting.  This is exactly the environment this inventor created with the license deal.  Instead of establishing a sense of mutual collaboration wherein the two parties choose to forge ahead in teamwork, our client’s greed killed what could have been a very good opportunity.

Story #3 – Haste

In this last instance, we were representing a new patented product in the hardware industry.  Trade shows were attended, a prototype was developed and we entered into substantive discussions with Acme Products, who had a very well-recognized brand.  They were eager to enter into the specific market segment of our client’s product, yet since they had no experience with licensing there was a bit of a learning curve required, thus creating some delays.  We were working with their attorney to craft an acceptable contract; however our client was growing impatient.

A couple months into negotiations with Acme, on a Friday our client calls me with a ridiculous demand.  He told me that Acme Products has two more weeks otherwise he is withdrawing the offer to license his patent.  I pleaded with him and cited evidence that proved Acme Products was operating in good faith and that the inertia of the deal was moving forward.  In the end he agreed to think about it over the weekend, but on Monday his opinion on the matter had not changed.  I asked if he could provide more time than two weeks and proposed many other more palatable solutions to move the deal forward, but he rejected them all.  With no other options and knowing I had to represent the wishes of our client, I was forced to make the call.

As with the past two stories, Acme Products chose to pass.  The artificial timeline was viewed as completely absurd and the president told me he did not want to enter into a contract with someone who would make irrational demands.

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About Lambert & Lambert:
Lambert & Lambert is a contingency-fee based invention marketing and patent licensing firm that specializes in consumer products. Based in Minneapolis, Minnesota, Lambert & Lambert provides services to inventors, product developers and small companies throughout the world and currently has products selling in numerous retailers.
Contact:
Tim Sherman, Director of Customer Service
Tel: 651-552-0080   |   Fax: 651-552-7678
info@lambertinvent.com

Links:
Lambert & Lambert Homepage   Lambert & Lambert Invention Blog
Lambert & Lambert on Facebook   Lambert & Lambert on Twitter

Snatching Defeat From the Jaws of Victory: Cautionary Stories For Inventors

Part 1 of 3

By Trevor Lambert, President

In the last decade I have had the great privilege to work with many independent inventors as they seek to commercialize their inventions.  Our company, Lambert & Lambert, represents technology owners seeking to license or sell their intellectual property rights by collaborating with companies well-positioned to sell the product and pay royalties to the inventor.

Over the years I’ve been able to see the inner workings of deals come to fruition, and others collapsing miserably.  No doubt we all know the path for inventors is an arduous one, paved with hurdles, set-backs and sometimes heartbreak.  However, sometimes those hurdles and set-backs are a product of the inventor’s own making.  By way of action, attitude or expectation, the inventor actually obstructs the deal from going through.  So in an effort to learn from past mistakes, let me share a few stories that may teach you what not to do.  The names, companies and products have been changed to protect the guilty.

Story #1 – Arrogance

A Fortune 500 (I’ll call ABC Corp) contacted us in search of technologies in fabric care.  Since we represent inventors, not companies in search of products, we performed a search and discovered a very unique technology developed by a small R&D firm on the east coast.  We convinced them to allow us to represent them and engaged ABC Corp to generate interest and set-up a meeting with all of their key staff and decision makers.

At the meeting our clients were asked to provide a technical overview of the product.  We prepped for the meeting extensively and so I was very comfortable with them making the presentation.  However, this is precisely when things began to unravel.  Rather than positioning their product as “highly complementary” to ABC Corp’s product line, they kept stating that their technology was “better” and went on to be outwardly negative toward ABC Corp’s technologies.  I was becoming embarrassed since the lead engineers were in attendance and visibly getting agitated by their comments.

The meeting went on for over two hours and we took a break to allow them to internally discuss what had been presented.  Not surprisingly they passed on the technology and the VP of the division mentioned to me afterward that he was surprised how arrogant they were.  They liked the technology but not the inventors.  Sadly, to this day the technology has not made it to the market.  Considering ABC Corp projected yearly sales of 250 million, the inventors are out a significant amount in royalties.

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About Lambert & Lambert:
Lambert & Lambert is a contingency-fee based invention marketing and patent licensing firm that specializes in consumer products. Based in Minneapolis, Minnesota, Lambert & Lambert provides services to inventors, product developers and small companies throughout the world and currently has products selling in numerous retailers.

Contact:
Tim Sherman, Director of Customer Service
Tel: 651-552-0080   |   Fax: 651-552-7678
info@lambertinvent.com

Links:
Lambert & Lambert Homepage   Lambert & Lambert Invention Blog
Lambert & Lambert on Facebook   Lambert & Lambert on Twitter

2012 PGA Merchandise Show Preview

The annual PGA Merchandise Show will be held on January 25 - 28, 2012 at the Orange County Convention Center in Orlando, FL. 

The show has a long and entrepreneurial history, dating back to 1954, where industry professionals gathered in parking lots to showcase their new equipment. This year, there will be over 1000 vendors representing a myriad of divisions within the golf industry. Ranging from start-up companies, Axis 2 Angle™ Golf, to industry titans, such as Titleist, there is a compendium of exhibitors both new and familiar for attendees to experience.

The show kicks off with the 10^th annual Demo Day on Wednesday, January 25. Just like the name suggests, the Demo Day offers participants a chance to test new equipment from top Golf companies like Ping, Calloway, and Taylor Made. The Demo Day will take place at Orlando’s Orange County National Golf Center and Lodge. Attendees can do more than test out the new putters, drivers, irons, balls, shafts, and grips. Club fitting, scoring clinics and instructional aides are also available for testing. However, the morning session is limited to PGA professionals and media only and the afternoon session is open for PGA professionals, media members and industry professionals. 

Among the many highlights of the merchandise show is the unveiling of new products such as equipment, apparel, teaching aids, travel accessories, and club management. The show has already revealed three new featured products in this year’s show. The first is the 2012 BB Putter Series by Bettinardi Golf. Bettinardi Golf has been producing One-Piece milled putters since 1991 and has been used by the likes of Vijay Singh, Jim Furyk, and Jesper Parnevik.

Standard Golf Company will feature their new line of customized flags. Each flag is embedded with maximum UV resistant material, which protects against the color fading of the flag. The consumer has two choices of fabrics, a white heavy-weave polyester textile, which feels like cotton and a nylon-like tight-weave polyester textile flag. To order, simply email your artwork to the email address provided on their website. 

Lastly, The SkyCaddie® will also be featured at merchandise show. The SkyCaddie® is a series of wireless rangefinders helping golfers map distances and view layouts of different holes and the course as a whole. The SkyCaddie® not only maps yardages to the hole, but also to layup points, hazards, and various targets on the green for different shot selection purposes. 

In addition to the many products and companies highlighted at the show, there are many learning and networking opportunities available for attendees. According to the FAQ page on the show’s website, there will be at least 70 educational seminars presented by notable figures from both the PGA and AGM (Association of Golf Merchandisers). Other attractions that worth checking out are the interactive exhibits, fashion gallery, special events such as concerts, various presentations, celebrity appearances, career fair, the new product center, and the chance for extensive professional networking.

For attendee registration and further detailed information about the show, visit the PGA Merchandise show website or you can follow the show on Facebook and Twitter.

About Lambert & Lambert:
Lambert & Lambert is a contingency-fee based invention marketing and patent licensing firm that specializes in consumer products. Based in Minneapolis, Minnesota, Lambert & Lambert provides services to inventors, product developers and small companies throughout the world and currently has products selling in numerous retailers.

Contact:
Tim Sherman, Director of Customer Service
Tel: 651-552-0080   |   Fax: 651-552-7678
info@lambertinvent.com

Links:
Lambert & Lambert Homepage   Lambert & Lambert Invention Blog
Lambert & Lambert on Facebook   Lambert & Lambert on Twitter

Common Pitfalls of the Invention Process

Before we even jump into the list, Team Tesla needs to preface this post. We completely understand that inventing and creating a new product from scratch can be a time-consuming and exhausting endeavor. We also recognize how deeply personal producing a new invention is and how emotionally (and sometimes financially) invested you naturally become in the process. That being said, this list is meant as a gentle reminder and informative piece to help bring to light certain aspects of your invention you may not have thought of, or possibly certain issues you have trouble even admitting to yourself. Our aim is to help point out possible flaws for the betterment of everyone's creative pursuits. In addition to that. . .

Let's just get this out of the way right now. Some of these suggestions may seem obvious to us, they may seem obvious to you, but they aren't obvious to everyone. We receive an astounding array of invention ideas that come through the Tesla Team laboratory (la-bore-a-tory), and through the high volume a pattern of pitfalls and mistakes has emerged.

Seek a Broad Audience (or more honest criticism)

It's a common phrase that we hear a lot around here, or some variation of it. "All my friends think it's great." "My neighbors said they would buy it." And possibly the most cringe-worthy, "my mom said it was a great idea." Before you get unduly riled up and start a round of fisticuffs, we are not calling your sweet mother a liar. However, successfully marketing a new invention and negotiating a licensing deal is strictly business. Large amounts of money are invested and many people's careers can be affected by the failure or success of a new product. Your invention is going to be placed under serious scrutiny before anyone is willing to invest in it to any significant degree. Because of this, initial opinions and constructive criticism for your product need to be wide-ranging and as objective as possible. The more input you get the better. 

This doesn't necessitate said input's incorporation into your product, but a range of perspectives is always beneficial. People have a tendency to surround themselves with like-minded people, creating at times an insulated environment both intellectually and creatively. Soliciting advice and opinions from friends and family is a fine start, and truly their support is important to your efforts. But it cannot be the end, because no one is going to be more critical than the person dropping thousands of dollars to make your idea a reality.

Don't Make It Personal (Very specific problems)

This is good advice for any inventor who is seriously considering or pursuing a licensing deal, either through an intermediary or on their own. Investing so much time and effort into a product naturally develops a bond with that piece of intellectual property, so criticisms aimed at your product need to be separated from your own ego. This isn't what we are referring to here, however. As so many people have said in so many ways (I like to attribute it to Daffy Duck), necessity is the mother of invention. The problem arises in the universality of the necessity. 

Case in point: my refrigerator in my apartment is too close to my kitchen counter. There is barely enough space for me to fit between the two to get to my bathroom. True story. Solution: I invent an automatically self-greasing belt to allow me to slip past. True, this belt may have other applications that can be used, but the essential problem with the product is that it is in response to a personal problem that is either isolated to my own experience or environment, or applies to an insignificantly small population of renters. To be sure, there is something to be said for being an advocate for your own product and expanding the opportunities for its use. It's an essential part of successfully marketing yourself and your product, however, it is important to keep a perspective on the practical scope of your invention's usefulness and how applicable it really is to your target audience.

Don't Overthink It (complicated solutions for simple problems)

This and the previous piece of advice are somewhat related, in that they both have to do with becoming insulated inside your own creativity and thought processes. Honestly, this can also be one of the harder mistakes to avoid, simply because it often has to do with whether or not your solution to a problem is even necessary. It's entirely a judgment call, and not everyone will agree. 

Again, it's important to believe in your product, but it's also important to step back and honestly attempt to determine if your solution is far more complicated than any previous product, or if your product is superfluous next to traditional methods. I'm loathe to try and come up with an illustrative example lest I offend someone working on my made up product, but let's try anyway. Let's say I make a product that is a gripper which holds silverware while you wash it, and it also has a mirror so no one can startle you while you wash dishes. I have a provisional patent and a working prototype. The question now becomes, is anyone going to buy it? What portion of the consumer population needs a hand surrogate to hold silverware even though to use the gripper you need a fully functioning hand? 

Now that example is a little ridiculous (I am so sorry if you have one of these on your workbench), and going back through consumer products history shows quite a number of things which on their face just look pointless and stupid. And yet they were successful. It really is a subjective determination and everyone makes mistakes, but it remains an important aspect of product development to keep in mind. How necessary is it, or better yet, how necessary will the target consumer see it?

Fantasy Invention/Wish list

To some people this last entry may seem pretty obvious, to others ridiculous, but believe me, there are others that need to hear this. You need to actually have an invention to bring that invention to market. Let me elaborate. Not all inventions need a working, polished prototype. Design changes especially can and will happen during the course of product development. Issues will arise with efficiency, functionality, aesthetics, etc., but in the end something needs to be presented that you have developed to a degree that you know can be made and will work, and even how it will work. That last point especially is important. 

Which brings me back to the title of this entry. I use the terms "fantasy" and "wish list" for a very good reason. The kernel of a notion for something that would be revolutionary if it existed, is not in and of itself an invention. The most egregious offenders tend to be in the realm of advanced technology, and again, I'll attempt to use an exaggerated example. I have a fantastic idea, for a human teleportation machine, and it should be small enough to fit into your pocket so that you can carry it with you when you do want to walk around. The device will unfold into a little pad which will have preset destinations on it that are customizable, like a speed dial. It will also have a warning signal in case you are going to teleport to where someone else is already standing. There will also be an emergency setting that will detect fire or bad weather conditions that will then teleport you to a nearby hospital in case you need medical attention. Alright, I'm going to stop there. I've just listed a number of secondary features to a fantastical device, without once addressing the unimaginably complex issue of human teleportation. I suppose we can call this invention in the broadest sense of the term, but legally and financially speaking, I cannot claim credit for inventing the teleporter. If that were the case, there is a host of science fiction authors with the rights to almost every piece of technology we use today. Yes, it would be amazing if we had virtual reality simulation machines that projected video games to such a real extent that they were indistinguishable from real life, but how do you propose we do that? What would the software look like? How much processing power would that take? To sum it up, your invention needs to be more than a vague idea for something that you wish existed. 
 

Inventing a successful commercial or technological product is a long, difficult and arduous journey, and we admire anyone willing to see it through. These entries are just a few of the challenges that inventors face, but we hope this discussion helps to point out how important it is to keep an open mind about your invention, to be willing to take a step back and look hard at your product, and above all to be realistic and push yourself to make a truly great invention. 

About Lambert & Lambert:
Lambert & Lambert is a contingency-fee based invention marketing and patent licensing firm that specializes in consumer products. Based in Minneapolis, Minnesota, Lambert & Lambert provides services to inventors, product developers and small companies throughout the world and currently has products selling in numerous retailers.

Contact:
Tim Sherman, Director of Customer Service
Tel: 651-552-0080   |   Fax: 651-552-7678
info@lambertinvent.com

Links:
Lambert & Lambert Homepage   Lambert & Lambert Invention Blog
Lambert & Lambert on Facebook   Lambert & Lambert on Twitter