TAAT completes filing of its FIRST U.S. PATENT for BEYOND TOBACCO(TM)
381TAAT completes filing of its FIRST U.S. PATENT for BEYOND TOBACCO(TM) - TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTC: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “Taat”) is pleased to announce that it has completed and filed a patent application with the United States Patent and Trademark Office (“USPTO”) for the proprietary refinement process of the base material for Beyond Tobacco™ cigarettes. This process contributes to the tobacco flavour and aroma of Beyond Tobacco™ cigarettes, which is the product’s hallmark feature as a tobacco-free and nicotine-free alternative to tobacco cigarettes. To date, even before officially launching Beyond Tobacco™ cigarettes to the public, the Company has multiple potential sales channels in order. In the course of Q3 2020, Taat appointed a former commercialization executive and a recently-resigned lead strategist from Philip Morris International to its Chief Revenue Officer and Chief Executive Officer roles, respectively. On September 2, 2020, Taat announced it had successfully negotiated favourable pricing terms for production of Beyond Tobacco™ cigarettes with a commercial-scale North American cigarette manufacturer that also produces for global and regional brands of tobacco cigarettes. With the launch of Beyond Tobacco™ cigarettes set to take place in Q4 2020, the Company’s management has elected to pursue patent protection of the proprietary attributes of its flagship product. Upon granting of the patent for which the Company recently applied, Taat would stand to benefit from this protection of its base material refinement process for a period of 20 years in the United States.
Taat has developed the Beyond Tobacco™ cigarette as a tobacco-free and nicotine-free alternative for current tobacco smokers who wish to continue the “ritual” of smoking tobacco cigarettes, while leaving nicotine behind. Based on data from the World Health Organization, there are currently 1.3 billion tobacco users worldwide1. Attempts to quit smoking tobacco are frequent, with CDC data indicating 55.1% of adult smokers had attempted to quit in the past year, though only 7.5% successfully quit smoking in that timeframe2. Despite the fact that mass-market tobacco cigarette alternatives such as gums, lozenges, and vaping deliver nicotine to users, quitting attempts made by using such alternatives tend to result in relatively frequent abandonment, which suggests tobacco smokers are attracted to attributes other than nicotine, such as the sensory elements of smoking a combustible product. To address this, the Company has sought to closely replicate the experience of smoking a tobacco cigarette with meticulous engineering of the experience of smoking Beyond Tobacco™. Feedback from early-stage user testing of Beyond Tobacco™ cigarettes has generally shown a consensus that Beyond Tobacco™ does not have any significant experiential differences from a tobacco cigarette. Many respondents commented on the scent and flavour of Beyond Tobacco™ cigarettes, expressing disbelief that the product does not contain any tobacco. As the refinement technique that contributes to these sensations has been lauded as the “secret sauce” of Beyond Tobacco™ cigarettes, the Company has recognized the importance of patent protection for this proprietary method.
#taat #trademark #patent
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