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Putting the ITM Pieces Together

Ideas To Market / Guide Book / Putting the ITM Pieces Together

ITM is designed to develop revenue generation mechanisms by bringing together idea and design people, makers and manufacturers, and marketers and advisors, with the specific aim of bringing products to online and other retail markets.

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What is an ITM “Idea”?

Ideas can be new or a refinement of what is already in the marketplace. Some ideas could be a product made a bit sturdier, a new farm implement that makes a farming operation easier, a new piece of recreational equipment, new designs for home products, textiles and furniture products, or any other product that can create commercial viability. Members that forward ideas, and that partner with other ITM members, with the result that product sales are made, will earn royalty revenues from those product sales. The amount of royalty may vary with each individual partnership and will be defined in the ITM Exclusive Business Cooperation Agreement.

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What is an ITM “Maker”?

Maker is a term used to describe a person or group who has the tools, abilities, space and passion to make things. Makers could use the Ideas To Market process to fill workbooks during slack periods, decide on purchasing new production equipment based on the flow of ideas, or participate however they wish or wherever they see an opportunity.

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What is an ITM “Marketer?”

A marketer will bring the product to online and/or retail sales outlets. This activity is more than sales as in most cases the marketer would be involved in the development of distribution channels, market plans and branding campaigns relating to the product. Marketers can be full-time product sales developers or part-time depending on the individual’s situation. People who are interested in the gig economy may become a marketer as a first step into entrepreneurship.

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What is an ITM Partner?

An ITM partner is an ITM member with an idea, or an ITM member with manufacturing capability, or an ITM member with marketing capability, that has<br /> entered into an ITM Exclusive Business Cooperation Agreement with other ITM members.

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What is an ITM Exclusive Business Cooperation Agreement?

An ITM Exclusive Business Cooperation Agreement (EBCA) is a document that is completed by a group of ITM members that have partnered together to work to<br /> bring a product to market. The EBCA was drafted by securities lawyers i) to create a “formal handshake” between ITM members that have agreed to work together on a specific product and ii) to ensure legal compliance by all agreement partners. The agreement describes the roles and responsibilities of each partner and defines how much revenue each will earn from the sales of the product. Additionally, the EBCA will be helpful for engaging financing options as the agreement becomes a value proposition that explains to potential lenders and/or investors the arrangements that are in place that will work to bring a product to market. A confidentiality agreement is also a part of the business cooperation agreement.