I would like some input on independent innovator friendly “hand tool companies”
I’ve checked into “SEARS/Craftsman” and there agreements are set at an unreasonable 1% royalty with no minimum performance guarantees and the so called “NDA” or Idea submission form reads more like a “Waiver” then an “NDA”
Also tried “Leslie” tool company and they to have an unfair idea submission/waiver agreement (even worse then Craftsman)…
Forums » Manufacturing » Topic
| mechanics tool companies | |
|---|---|
|
Ray ALphonse
rayalphonse |
|
|
|
|
|
Sherri .
funfam4
66,750
Insider Points
|
Snap-On, Matco, and Mac Tools Corporations and you might even check out Harbor Freight Tools? Stanley also has an invention and idea portal on their Stanley Works website. I would definetly try Snap-On first! Good Luck! |
|
Gizmo G
gizmo |
Not sure if you know it , the majority of mechanic’s tools at Sears are manufactured by different company’s then private labeled.. If you dig enough with your research you will figure out who they are……Two of there major manufacure’s are huge and private label for many retailers. Depending on your idea it would be tough to get to Snap-On for there proffessional tools. You maybe able to get there Kobalt Brand tool division to listen to you. Kobalt is exclusive to Lowes and owned by Snap-On. |
|
Bob Kochem
bobk
26,500
Insider Points
|
All Trade www.alltradetools.com has a process for submitting inventions. GreatNeck www.greatnecksaw.com might also be a candidate but they don’t post a submission process. |
|
Ray ALphonse
rayalphonse |
Thanks for the alltrade link I’m going to look into it. I would love to license my idea to a industry leader like Craftsman and the other big names but they are seemingly to unreasonable with how much they will give you in return. My invention comes with not only an idea/theory but a workable prototype made of plastic and a manufacturing process that in turn allows the lisensee to cut production cost while using existing tooling to produce my invention. I was a professional machinest for 1.5 years and I know what can and can’t be done in a machine shop. I know the manufacturing process down to the exact tools needed to make my tool/invention. I guess I just think that I’m worth a little more then the common inventor that say’s here’s my idea now you pay me for it! The type of inventor that knows nothing about if the product can be produced and sold at a profit. To Gizmo G- I know much about the industry, manufacturers, brands, who and where the actual tools are made. I own more hand tools then most mechanics. My question is which one of them offers a reasonable licensing contract and has been known to be good to independent inventors. |
|
John Larkin
icecreamman
90,000
Insider Points
|
sears agreements are VERY BAD ! |
|
David Tyers
prototyper1 |
Ray, Look at the Lisle Corporation site. They seem to be inventor friendly and they produce hand tools for the mechanic. All the Best.. |
|
Ken Somerby
reddawg |
1% = LOL you would be better off joining affiliate programs…… 1% is a ridiculous joke and not even worth the time it would take to write the submission, unless they sold 700 billion pieces of your tool. |
|
Gizmo G
gizmo |
Ray, if you know so much about the industry , why are you asking others which companys have resonable license agreements……Why cant you do the research on your own. I think you need to read up some more on license agreements and royalty’s. Just because Sear/Craftsman states 1% means nothing. Agreement’s can be modified just like any other contract. You better worry more about getting your foot in the door first before thinking about an agreement. I dont care how good you think your idea is…….. |
|
Ray ALphonse
rayalphonse |
gizmo G As far as my knowledge is concerned I’m a member of both the “Inventors assistance league” and “Inventright” and have hours of published audio and a dozen books on the topic. You can state you sat at the round table but it just paints you as a person who gave up on they’re dreams! By being Negative and saying I wont make it just because you couldn’t makes you seem like you shouldn’t be on this or any inventor based website to begin with! Just so you know I started this blog because unlike you I know that references to good companies can make a big difference in an inventors success or in your case failures! |
|
Gizmo G
gizmo |
Wow your way off base dude, where did you get I gave up. Just so happens I licensed a product to one of the Companys that supplys to Sears. In fact Sears has signed my NO-Compete NDA’s a couple times over the yrs. |
|
Ken Somerby
reddawg |
If a company comes to you or wants your product bad enough then any agreement can be modified………..If they say it is policy and that’s the deal, then you say it is time to change the policy! |
|
Ray ALphonse
rayalphonse |
again I state if you sign an “idea disclosure” contract that clearly states set numbers as the one from Craftsman then you sign away any negotiation ability. Think of it like you signing a contract to sell your car to me for 500 dollars but when you realize that the cars worth more and you want to negotiate on price then all I do is read to you the contract you signed to even get me to talk to you about the car in the 1st place! It’s all in the wording like the old saying “the devils always in the details” Go to the craftsman website and read the disclosure document. Keep in mind that no matter what a document says on the heading via “disclosure document” or “idea disclosure form” etc you may very well be signing either a “waiver” or even worse an “assignment” of your invention! I know you can argue that if they don’t want to negotiate the terms then you’ll say screw em. You’ll then take your idea elsewhere but then that would have just been a whole lot of wasted effort over your misunderstanding of how contracts work! If anyone thinks that you can agree to terms like set royalty rates etc under an “idea disclosure form” “NDA” etc and then attempt to negotiate the terms after the manufacturer becomes interested then your dead wrong! This would be the same as sending in your idea to Everyday Eddisons (which states clearly the royalty agreement etc upfront) getting them interested then trying to negotiate better terms after they’re legal department has done prior art searches etc…. Were completely off topic though. To get back to the original question of “Does anyone know of a handtool company that treats independent inventors with respect?” by this I mean I’m looking for someone whom has an active licensing agreement or knows someone personally with an active licensing agreement that was treated fair by a manufacturer and what manufacturer was it? I’m looking for solid information/references not just someone who reads somewhere that a tool company is looking for innovators. I already know the manufacturers that have licensed before but what I don’t know is an actual person that has licensed a tool to one of them. Good solid references no negative gizmo G’s |
|
Ken Somerby
reddawg |
Then don’t sign the agreement as this seems to be your hangup? Give Sears a vague description about your product with enough info without full disclosure and if they contact you then you have them sign your agreement!!!!! |
|
Gizmo G
gizmo |
Ray, Do you think any inventors going to give you specific info on there license agreement. If they do then they break confidentiality with there licensing company. Ever heard of Craftsman Speed-Lok Drill & Drive. It was licensed to Sears/Craftman by a young man (Matt Jore) out of Montana that worked for a telephone utilitys company. He gave Sears/Craftsman a limited time exclusive with his product when it first was introduced. The standard agreement from Sears ended up getting modified because they new Matt’s product was going to be a winner. Most tool manufacture have there own version using Jore’s technology, he get royalties from all the companys. Mario Salazar, Licensed one of his ideas to Craftman also. Its a Digital Miter Gauge (Pro Miter 100). Al Kennar,has a product Sears sells. Al went about his licensing possibilitys a little different tha Jore, Al came through the back door and licensed his Grip-N-Drive tool to a small company that licensed the product to Sears/Craftsman. Contact these inventors and pick there brains, I would be willing to bet you wont get any specifics about there license agreement. If you do they broke confidentiality. A couple months ago I was talking with Roger about this same subject. Roger asked me for tool manufacture companys contacts I had. I gave him some and asked please dont pass them around, he agreed not to. I dont just give them to anyone and neither does Roger. |
|
Ray ALphonse
rayalphonse |
Gizmo g I wasn’t asking for contract details! I strictly was asking for someone with personal experience with a manufacturer that treated them fair. My question is meant to sway away from any potential company that’s known to screw independent inventors. I know all to much about confidentiality and disclosure of what could be called “trade secrets” etc. My questions are never based on the release of private or what could be called private information. You did recite a strategy that I was actually considering in your above message so thanks for the reminder. |
|
Alberto Contreras
quantummechanics |
Wow what a spirited and informative exchange. |
|
invisible avatar
amiiam |
Malco is a great company. If you work with them and reach a desirable negotiation they also have an established path to market. They sell to pro comercial companies as well as Home Depot. |
|
Ray ALphonse
rayalphonse |
Thanks invisible avatar I just finished up my PPA application and am getting my lawyer to take a look over it before sending it in. I’ll soon be submitting my New Advertising system/Label design to various manufacturers. After the dust settles from the the label then I’ll jump back into the mechanics tool and onto the other 15 or so ideas that need tending to. I have 3 notebooks filled with good ideas and tons of improvements on those ideas. For me it’s just getting that 1st break with one of them and then hitting the ground full speed ahead with all the others! “once you open the door to your imagination all you can do is just sit back and enjoy the ride” |
|
invisible avatar
amiiam |
Ray, I urge you to look into Malco further. They have spoken at our Inventors Network and remain available for consultation. They have access- design to forge to market. They are not HVAC only! They are one of the companies that actively seek outside submission. If they do not see your product in their possible distribution, they are still available at your option (and cost) to produce your project. Yet they could license your product if negotiation is beneficial to all. |
|
Tim Montgomery
tjm
38,250
Insider Points
|
If you think it’s hard to talk to anybody about a new small hand tool ,it’s almost impossible if you have a new large power tool like my avatar!!! tool industries very tight circle to crack good luck! cause i didn’t have much success’’’
|
|
Ken Somerby
reddawg |
Sears is bad but 1% is better than zero |
|
Bob Kochem
bobk
26,500
Insider Points
|
You might also look at the site for the American Hardware Manufacturers Association, or AHMA, at http://www.ahma.org/ You can scan their membership list there for target comapnies. It’s a bit tedious – you have to do it state-by-state and many are empty. |
|
Bob Kochem
bobk
26,500
Insider Points
|
RE:; Craftsman; Following is a link to a page of who actually makes the things Sears sells under the Craftsman brand. http://www.owwm.com/Craftsman/manufacturers.asp... It may be possible to approach some of these directly rather than thru the “1% solution”. RE: “Sears is bad but 1% is better than zero” Nitpick – I’m not positive but it looks like that’s 1% of gross sales. Many royalties are based on manufacturer’s sale price, or wholesale, so getting 1% of gross at Craftsman may be something like 2% of the usual wholesale. |
|
Bob Kochem
bobk
26,500
Insider Points
|
Malco is now offering fee-based products development services at www.malcod2group.com I received a letter from them about it in followup to an idea I had submitted sometime back that they had politely declined to pursue. |
|
Roger Brown
rogerbrown
∞
Insider Points
|
You might also want to try looking through this list http://www.edisonnation.com/forums/market-resea... |
« Return to the forums index page