AbsolutelyNew Launches National Invention Competition

Winner to Receive $20,000 in Product Development & Marketing Expertise

AbsolutelyNew, Inc., the consumer goods company that partners with inventors to launch innovative products, has launched its first National Invention Competition with the not-for-profit United Inventors Association (UIA).

The competition gives current UIA members the opportunity to showcase their patent-protected ideas and become eligible to win professional product development and marketing-licensing services valued at $20,000.

The winner could potentially earn millions more in royalties if his or her invention is licensed and goes on to become a marketplace winner – a real possibility when companies are increasingly cutting their internal R&D spending in favor of seeking externally developed new products that they can license and quickly sell.

Additional competition facts:
Entries are 100% safeguarded—entrants will be protected under a strict agreement of confidentiality.
A panel of AbsolutelyNew experts will judge all ideas based on their originality, market potential and manufacturability.
Competition is open until May 31, 2009. The winner will be notified no later than June 15, 2009.

Entry forms, more details and official terms & conditions are available at www.AbsolutelyNew.com/uiacontest.

This marks AbsolutelyNew’s first sponsorship of a National Invention Competition. The company has previously sponsored local invention competitions among select high schools and universities, and also with New York’s Inventors Association of Manhattan.

“The United States has repeatedly innovated its way out of difficult times,” said Richard Donat, AbsolutelyNew’s CEO. “We hope this national invention competition will contribute to the broader national cause by fostering innovative thinking while helping our winner to launch his or her product into the marketplace.”

UIA membership information can be found on the organization’s website, at www.uiausa.org.

About AbsolutelyNew, Inc.

AbsolutelyNew is the consumer goods company that finds and drives to market the most innovative products from the world’s inventors. The company has helped thousands of inventors bring their ideas to life. Products in its portfolio span a wide range of categories, and can be purchased in stores, in catalogs, online, and on TV. Headquartered in San Francisco, AbsolutelyNew is privately held, with venture capital backing from Artiman Ventures. For more information, please visit www.AbsolutelyNew.com.
Contacts

AbsolutelyNew, Inc.
Jeremy Milk, 415-865-6200 ext. 1139
Director, Marketing Communications
jmilk {at} AbsolutelyNew(.)com