- Advancement means patent examiner will be assigned to review filing
- TAAT CEO notes that IP protection afforded by patent on Beyond Tobacco base material could improve company’s competitive position
- The filing intended to protect proprietary refinement technique that characterizes both TAAT and its Beyond Tobacco base material
TAAT(TM) Global Alternatives (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP2) is a step closer to being the patent owner of a game-changing process that causes Beyond Tobacco(TM) to taste and smell much like the real thing. The company’s patent filing with the United States Patent and Trademark Office has been advanced to nonprovisional status, with the assignment of a patent examiner currently pending (https://ibn.fm/YVHfh).
“The intellectual property protection afforded by a patent on the Beyond Tobacco base material of TAAT(TM) could improve our competitive position in the tobacco industry,” said TAAT CEO Setti Coscarella. “Aside from the fact that it would be more difficult for competitors to imitate our product, it would be more practical for us to manufacture Beyond Tobacco using third-party producers instead of producing only in-house, which we currently do because the process is a trade secret. We are pleased to have advanced this process in line with standard timeframes for U.S. patent applications, and we look forward to undertaking the steps to finalize this patent, which we believe can strengthen TAAT as a competitive product and a uniquely better choice for smokers aged 21+.”
TAAT filed the original provisional patent in September 2020. The filing is intended to protect the company’s proprietary refinement technique that characterizes both TAAT and its Beyond Tobacco base material. The technique is at the center of the company’s ability to offer its flagship product. Available in Original, Smooth and Menthol, TAAT the product provides smokers with a tobacco-free and nicotine-free alternative that still offers the sensation of smoking.
TAAT was initially made available for retail sale throughout Ohio in October 2020; the innovative product was offered through TAAT’s online portal beginning in February 2021. Response to the product has been impressive with purchase orders steadily increasing and users reporting satisfaction with the product’s experiential similarity to that of smoking a tobacco cigarette.
“As the company continues its efforts to build market share in the $814 billion global tobacco industry, patents can play an important role in its ability to establish a market position and preserve the competitive advantages that can be had from patent protection,” the announcement noted. “Incumbent firms in the tobacco industry are among the world’s top patent filers, with Philip Morris International and Japan Tobacco International having been listed in the 100 Top Patent Filers by the European Patent Office in 2016 and 2019, respectively.
The next step for the company’s patent filing involves an examiner reviewing TAAT’s claims and potentially granting a United States patent based on the findings.
TAAT Lifestyle and Wellness has developed TAAT, a tobacco-free and nicotine-free alternative to traditional cigarettes available in Original, Smooth and Menthol varieties. TAAT’s base material is Beyond Tobacco(TM), a proprietary blend that undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with Big Tobacco pedigree, TAAT was launched first in the United States in Q4 2020 as the company seeks to position itself in the $814 billion global tobacco industry.
NOTE TO INVESTORS: The latest news and updates relating to TOBAF are available in the company’s newsroom at https://ibn.fm/TOBAF
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.
With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.
Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.
For more information, please visit https://www.InvestorWire.com
InvestorWire is part of the InvestorBrandNetwork.