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Re: Add to the List of Terms That Inventors Should Know

Postby Roger Brown » Fri Jun 27, 2014 3:58 am

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RFID- RFID stands for Radio-frequency identification and is the wireless non-contact use of radio-frequency electromagnetic fields to transfer data.

Polypropylene – is referred to as PP for short and also called polypropene. It is a thermoplastic used in a wide array of products such as plastic containers, plastic parts, various packaging and more.

Polyethylene – is referred to as PE for short and also called polythene. It is one of the most commonly used plastics. It can be found in plastic bags, plastic containers, bottles and more.

Re: Add to the List of Terms That Inventors Should Know

Postby Roger Brown » Tue Aug 19, 2014 5:30 pm

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ID – Industrial Design- You will sometimes hear companies say “We will have our ID department look it over. Or “It is in review with ID”

COG – Cost of Goods is the total cost attributed to the production of the product sold by the company including the material and labor costs.

CADs – Computer Aided Designs- these are designs generated by the designer using computer software depicting the object so that it can be machined, tested, give specific dimensions, material specifications and more to aid in the production of the object.

Re: Add to the List of Terms That Inventors Should Know

Postby Roger Brown » Tue Nov 18, 2014 7:05 pm

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BOM – Bill of Materials- this is a comprehensive list of the various materials, components, sub-components, and quantities of each component needed to manufacture the finished product.

STEP and IGES - are neutral file formats used to transfer files between various CAD software. Editing these is normally not available because the history tree is unavailable in this format.

Due Diligence – period where the company interested in possibly licensing a product does their research into that products market share, cost, return on investment, profit margin, manufacturing process and more before deciding to make an offer on the product offered for licensing.

Re: Add to the List of Terms That Inventors Should Know

Postby Roger Brown » Sat Dec 27, 2014 8:32 pm

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Licensing Evaluation/Review – when a company takes the time to consider adding a new product to their product line. During this time the company evaluates the cost to bring the product to market and if it can be done at a profit.

Line Review – when a company is showing their product line to a retail chain in hopes of either establishing a line of products within that retail chain or expanding the current line they have within that chain already.

Product line – a collection of products produced by one company for sale for profit.

Re: Add to the List of Terms That Inventors Should Know

Postby Roger Brown » Sat Feb 07, 2015 5:34 pm

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Trademark is what consumers recognize as the brand/insignia of your product/goods.

A Service Mark and Trade Mark are very similar to each other. With the exception that a Service Mark doesn't apply to products/goods, it only applies to services

Clam Shell Packaging – is a container that can be clear or tinted that has two halves that come together to form the enclosure to hold the product.

Re: Add to the List of Terms That Inventors Should Know

Postby Roger Brown » Tue Apr 14, 2015 5:06 pm

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Here are some more to review.

Term Sheet - A document/framework that is used as a starting point in negotiations between two or more parties that can cover some of the following items, Licensing Fee, royalties, percentages, advances, payment schedule, milestones each party must meet, length of the proposed contract and more.
Each Term Sheet is specific to that particular situation and what each party brings to the table and is willing to accept. Based on the Term Sheet a contract can be structured more rapidly and all the legal terms can be added to make it official and ready for all parties to sign.

Prototype Molds - Are molds generally used to for prototyping shortrun manufacturing and used as a bridge tooling before moving to large-scale manufacturing. Doing short runs allows for proof of concept, testing the market, weeding out bugs before going to the final tooling and rapid production.

Different types of Forging:

Drop forging – Normally done by a very heavy specific shaped die dropping down hammering the hot metal into another die to get a uniform shape.

Press forging – using hydraulic pressure to force the hot metal into a die to get the desired shape.

Roll forging – You get the shape desired by running the hot metal between two rollers.

Cold forging – A process mainly used on small pieces where the metal is not heated but still pressed into a die to get the required shape.

Re: Add to the List of Terms That Inventors Should Know

Postby Roger Brown » Mon Jul 20, 2015 9:35 am

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OPP- Opening Price Point. This is typically the lowest price a supplier can offer to the merchant and can be the lowest priced item in that category. The merchant uses this item as a way to gain the consumer’s attention and create the illusion of value hoping the consumer will be more receptive to higher price pointed items in the store.

One Off item - is normally a single item for sale or a single item you add to a line of products or a single item that is totally different from all the other items the company may currently produce. This can be a challenge to get into a company or store because it is a single item and may not fit their current planogram. Or it is an item that would require its own space that affects the other products displayed in that area. Example : You have developed a unique new type of dog leash and want to get it into PetSmart. There are 7 other companies selling multiple dog leashes that takes up 8 feet of their shelf space from the floor to the top of the shelf. Are they willing to move, condense or remove any of the current leashes from this spot in order to place your one item?

GMP – Good Manufacturing Practices – is a set of guidelines used in the manufacturing industry to ensure they follow a set of standards giving them consistent quality in production. This can include employee training, the types of materials they use in production, testing of the product, procedures used to run and maintain equipment, standard and random testing of the product, and documentation giving a paper trail showing that compliance of standards. This is all done to ensure the first product and the last product manufactured are of the same quality.

(POP) display or Point of Presence Display – These are typically those mobile/portable displays you see in stores that focus on selling a particular item or themed products. They are easily moved from one location to another to gain consumer attention and prompt sales of those items.
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