No matter what you call them—RFQs, RFPs, online auctions, reverse auctions or bids—they all spell bad news for the adhesives and sealants industry. These exercises will ultimately do irreparable harm to the industry as a whole.
On a daily basis, television, newspaper, and radio fill their programming with “experts” who are all too eager to prognosticate where the stock market will be in 12 months, how quickly the sea will rise in the next 100 years, or who will win the Super Bowl and why.
In August 2013, the U.S. Patent and Trademark Office (USPTO) reported a backlog of 591,665 patent applications waiting to be examined and an average total pendency (time from filing to end of examination) of 29.4 months.