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Invention and Product Development Support Services

   Sphere What The Mat King can do to help.
   Sphere Cant' you just send us some samples? 
   Sphere What's this going to cost us any way? 
   Sphere How long does a thing like this take? 
   Sphere We actually have a few projects. How do we handle that?
   Sphere Are there any other fees or costs involved? 
   Sphere What kind of guarantee do we have that this will be successful? 
   Sphere What do we have to do besides pay you?
   Sphere What do I need to do to get one of these Agreements started?

 

Please Note: Fee structures are tailored to each project.

Financial figures presented in this prototypical agreement are offered as "place holders" to demonstrate the nature of the working agreement.

Click HERE for details of the compensation structure and procedure.

A custom agreement will be presented for review by potential clients on receipt of a detailed written requirement for their particular project.

Invention and Product Development Support Services Retainer Agreement

AGREEMENT TO PROVIDE CONSULTING SERVICES FOR PRODUCT SPECIFICATION

THIS AGREEMENT, dated  , is made

BETWEEN   Your Company, Inc. herein after called "Client", whose address is:

AND The Mat King (a d/b/a of Jandru Mats, Inc.) herein after called "Consultant", whose address is: 3000 Hempstead Turnpike; Suite 305, Levittown, NY 11756 USA

1. Services To Be Provided: Client and Consultant agree that Consultant will provide product specification services and assist Client in determining an application plan for [project description to be filled in - click HERE to review typical project descriptions], herein after called "the Project".

2. Additional Services: If Client desires other services, which may or may not be related to the above matter, Client and Consultant must make a new agreement to provide specifically for those other services.

3. Compensation:

A.  Retainer:  Fees are due and payable upon presentation of Consultant's invoice to Client. Client has a 30 day grace period, beginning on the invoice date, to pay any remaining balance in full before an Account Management Fee (finance charge) is imposed at a rate of 18% per annum computed daily or $20.00 per 30 day period, whichever is greater.  An initial retainer of $1,500.00 is required before commencement of work on the Project.  At the culmination of services connected with the project, the final invoice will be applied to the retainer and the balance, if any, will be returned to Client.

B.  Minimum Fee: Client understands and agrees to pay a minimum of $400.00 for services regardless of time actually spent on the Project.

C. Hourly Rate: Client agrees to pay Consultant at the rate of $115.00 per hour.

D. Additional Charges to Client: In addition to the hourly rate described above, Client will be responsible to pay for all costs and expenses such as: Travel expenses, Service Fees, Messenger Services, Art charges, Logo Development Charges, prototypes, tooling, photocopying charges, telephone calls, postage and any other reasonable expenses related to the Project.

4. Client Acknowledgment: Client must fully cooperate with Consultant and provide all information relevant to the issues involved in the Project upon request.  Client must pay all bills as required by this Agreement.  If Client does not comply with these requirements, Consultant may, at Consultant's sole discretion, choose to withdraw from assisting Client upon written notice submitted to Client by Facsimile, hand delivery or certified mail.

5.  >No Guarantee: Consultant agrees to provide conscientious, competent and diligent services but in no way does Consultant guarantee results to the satisfaction of Client.

The parties below have read this document. They fully understand its contents and agree to same.

 

X  ___________________________________ Date: _____________________

Authorized Contact for Your Company, Inc.: Benjamin Franklin, President

 

X  ___________________________________ Date: _____________________

Authorized Contact for The Mat King:

 

 How long does a thing like this usually take? - There is no easy answer to this question. Is there a chance that an existing product will do what you need it to do. Sure. In situations like that, having the client supply the most detailed product application requirements will go a long way to reducing the time it takes for us to zero in on appropriate product candidates for evaluation. On the other end of the spectrum would be the need to develop custom tooling and product formulations for field testing. How far along the development trail of such protracted projects a client would want The Mat King to accompany it would be determined by interim result evaluations and time and budgetary constrictions.

What The Mat King can do for Inventors and Project Development Teams - Hopefully, given the best possible understanding of what a client needs a mat or related item to do, The Mat King can save that client time and resources, both in terms of man hours invested and monies expended in finding or making the right mat for their application.

Can't you just send us some samples?  - Sometimes we get wooed into thinking that that actually might work. We send out samples and, after some evaluation by our our potential client, the client reports back to us what was good and what was still needed in the mat that will work for them. We send out some more samples that meet the new product parameters as well as the former requirements that the first batch of samples met. The client comes back with still other needs and, at this juncture, explains the importance of the project and how much everyone will gain from it if they are successful.

That is supposed to make us feel better about the time it takes for our staff to cull through thousands of products, to select ones that might suite the client's needs, needs we might add that are still a mystery, and to send them, often via special currier, in hopes of becoming the solver of the problem and the recipient a huge order that will make it all worthwhile.

Having done this work since 1988, we have learned the tell tale signs of the "product development" and the "product search" scenarios. We know them to be both frustrating for and non-remunerative for us and perhaps equally frustrating and wasteful of time and effort on the part of our clients as well.

We feel it is better for both our clients and for The Mat King to work in the manner outlined by the terms of the prototypical retainer agreement provided above than to allow our selves to get caught up in trying to save potential clients money by "sending samples" willy-nilly with no clearly understood goals and objectives and no fair compensation arrangement for efforts expended and knowledge shared.

Some Typical Project Descriptions -

1) the development of a processes to manufacture a portable mat to melt snow and ice for residential and commercial applications.

2) identify a product that will enable workers to transverse the delicate surface of a certain part of a certain aircraft during servicing of that aircraft without resulting in the foam-like structure of that part to be at all compressed by the weight of the workers.

3) develop or identify a mat that will be used in a children's game.

4) identify or develop a non-skid surface for use over exiting ceramic flooring for use in hotel shower stalls and shower rooms that will be ADA compliant, address certain risk management concerns and be cost effective with regard to installation and maintenance.

What do I need to do to get one of these Agreements started?   - Send us a description of your project with all its requirements, applications, cost constraints, quantities needed, time considerations, product dimensions, where this needed product fits in to the overall project or situation and your role in the project. Include company name, address, phone and fax numbers, e-mail address and identify who can approve; i.e. sign, an agreement on behalf of your company and to where our agreement and invoice should be directed.

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THE MAT KING
3000 Hempstead Turnpike; Suite 305
Levittown, Long Island, NY 11756 USA

Phone: 516-501-0744
Fax: 516-501-0753
Phone: 800-442-6544
Fax: 800-Mats-Fax (628-7329)

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