Delaware’s First Intellectual Property Patent Agreement Signed

The State of Delaware, Jan 04, 2008 - Streamline Industries to commercialize patents for eco friendly automotive products. Delaware Economic Development Office Director Judy McKinney-Cherry and Streamline Industries Founder and CEO Eric Townsend signed the first patent agreement under the state of Delaware’s Intellectual Property Business Creation Program in Wilmington. With the agreement, Townsend and his father took ownership of two patents dealing with automotive coatings and finishes.

“We are thrilled the Townsend family is the first to take advantage of Delaware’s Intellectual Property Business Creation Program,” said Delaware Governor Ruth Ann Minner. “Our pioneering patent initiative provides a distinctive edge for technology-minded entrepreneurs in Delaware. By participating in this program, the Townsends have the opportunity to create and sustain a successful business with unlimited growth potential here in Delaware.”

Streamline is a start-up company that will manufacture high quality coatings for automotive original equipment manufacturers, as well as the refinish, electronic, plastics and appliance markets. The products are designed with improved resistance to weather, suitable resistance to abrasive chemicals, a uniform surface and are environmentally friendly.

Eric Townsend is a chemical engineer with DuPont in Southern N.J. His father, Gary Townsend has more than two decades of experience as an automotive engineer with the General Motors Corporation in Delaware.

“We would like to thank Governor Minner and the state of Delaware for developing the IP Business Creation Program for entrepreneurs,” said Eric Townsend. “Through the program, we were able to realize our business dreams. Securing these key patents will give our products the competitive edge to compete in this mature painting and coatings market. Additionally, the professionals at DEDO were a great resource throughout the process.”

For the rest of this article please visit dedo.delaware.gov.