Process and procedure for Inventions process

Apex Tool Group has a cross functional team dedicated to executing inventor ideas in the marketplace for both Hand and Power Tools. The process begins with your idea submission and proceeds to our team for evaluation. We meet monthly to evaluate all new submissions. If your idea is compatible with our product roadmap and strategic vision, we will approve the project for further resourcing. This includes design and prototyping, Voice of the Customer research, product performance testing, intellectual property evaluation, and manufacturability studies. Upon favorable results, we will then develop a licensing arrangement with you to compensate you for your idea. This process varies in duration based upon the idea, but it is possible to complete the Idea to Execution process in less than 12 months. Some of our inventors submit multiple ideas, we look forward to receiving yours!

Our policy is that we only accept idea submissions for which a patent application has been filed or a patent is granted.

 

Step 1 Review the submission form Fill out your information Include your Patent or Patent Application Number Step 2 Product Review Committee makes a decision Proceed Not interested Consider further development Step 3 Build model for testing and verification Conduct voice of customer research Performance testing Manufacturing cost Step 4 Prepare worldwide license agreement