Products USA: Declined Pipe Wrench

Declined "Quick-Adjust" Pipe Wrench :

Quick-Adjust Pipe Wrench

Details about the "Quick-Adjust" Pipe Wrench and why we rejected it!

This product came to our attention when we noticed an ad in the Business Opportunities Section of the Wall Street Journal seeking financing for a newly-invented, revolutionary hand tool. We contacted the inventor of the Quick-Adjusting Pipe Wrench, and his terms were over a million dollars up front to license the product.

This response is always a good indication that we needed to wait before acting. We made a future call to this same inventor one year later; by then the up-front money had dropped to $100,000. We again made ourselves a reminder to make a future call. On our next call, one year later, we were told that tooling problems had developed. And, now, no up-front money would be needed.

When we met with the inventor, no "up-front" money was needed but the minimum amount necessary to maintain the exclusive was unrealistically high, so we declined to proceed.

Lesson learned: If the inventor still has "inventoritis," we keep our distance. The inventor needs to realize that in 99.9% of all cases, the hardest work to be done comes after the product is invented.

General Notes:
*We only work with a very few, highly selected products at one time.
*There is no cost to the inventor unless we produce results!