The assignee for this patent, patent number 8955714, is The Boeing Company (Chicago, IL).
Reporters obtained the following quote from the background information supplied by the inventors: “In the aerospace manufacturing and repair industries there is a need to keep strict controls over fasteners, tools and other similar objects that are used in manufacturing and repair of aircraft, spacecraft, etc., but do not become a structural part of the craft being manufactured or repaired. Care must be taken that these objects are removed from the craft after use. Foreign objects left behind inside an aircraft or spacecraft have the potential for causing significant damage to that craft during flight. This type of damage has become so important in the aerospace manufacturing and repair industries that it has been given the particular designation of Foreign Object Damage (‘FOD’).(…)
via Boeing : Patent Issued for Portable Cleco Type Fastener Dispenser | 4-Traders.