Patent Publication Number: US-7896158-B2

Title: Tool bit holder

Description:
BACKGROUND 
     This application relates to the field of tool bits and more particularly, to a tool bit holder utilized to securely store one or more tool bits for future use. The invention of this application has been found to work particularly well with screw driver type tool bits and will therefore be discussed with particular reference to these styles of bits. However, it is to be understood that this application has broader application and can be used in connection with a wide range of tool bits. 
     Tool bits are well known and have been used for many years for a wide range of applications. In particular, tool bits formed from an octagonal bar stock have been used for years to form a wide range of tool bits including, but not limited to, Phillips drive bits, flat bits, and other bit configurations used to drive fasteners of all styles. These tool bits predominantly come in two lengths wherein the long style drill bits are attached directly to a driver or a power driver and the short style drill bits are used in connection with a drill bit holder which is then used in the manual or powered driver. As is known in the art, special application drill bits are available which can be several inches long for use in connection with fasteners that are difficult to reach. In today&#39;s market, the vast majority of the tool bits produced for screwdriver type applications are the short style drill bits that are less than one inch in length. 
     In view of the extreme popularity in these style of drill bits, they are widely used and include working ends that can be used for virtually any type of fastener. Accordingly, there are many different configurations of drill bits that an end user would have in his or her toolbox. Further, these tool bits have a limited life span and eventually will need to be replaced. As can be appreciated, a user of these styles of tool bits could have several dozen of these tool bits that must be organized so that they can be easily found when needed. Maintaining differently configured tool bits in a random pouch style packaging is inefficient and leads to significant frustration when a particular tool bit is desired. 
     Over the years, tool bit holders have been designed to help overcome these problems. However, these holders are difficult to use and inefficient in their application. Many of these prior art tool bit holders used technology relating to other types of tools which do not work particularly well in connection with octagonal tool bits and other small sized tool bits. As can be appreciated, the small octagonal tool bits do not include a significant amount of surface area for gripping with one&#39;s fingers wherein it is difficult to remove a tool bit from a bit holder that utilizes high frictional loads. While these high frictional loads adequately prevent the tool bit from inadvertently falling from the holder, they make it difficult for the user to remove the bit from the holder. This is particularly true for users that have reduced hand strength such as elderly users or young users. Overcoming this condition with reducing the frictional engagement by the tool holder has had negative consequences in that the tool bit can easily fall from the holder which prevents the usefulness of the device. 
     STATEMENT OF INVENTION 
     In accordance with the present invention, a tool bit holder for releasably supporting a plurality of tool bits in a supported position is provided wherein this tool bit allows for the easy removal of a tool bit while allowing the tool bit to be stored in a supportive position during non-use. 
     In this respect, in one embodiment, provided is a tool bit holder for releasably supporting a plurality of tool bits in a supported position wherein each tool bit has an elongated bit body extending from a working end to a tool end. The tool end of the bit being shaped to be received by a tool and the working end being shaped to engage an object such as a fastener. The bit further including an elongated side wall extending between the working and tool ends. The holder includes a frame having a plurality of spaced bit receiving nests and each of these nests has a bit opening shaped to receive one tool bit. The nests further including a flexible member movable relative to the tool bit opening and movable between an engaged position and a disengaged position such that the nest engages the elongated wall of the tool bit when the flexible member is in the engaged position and the associated bit is in the supported position thereby preventing relative movement between the nest and the associated bit. Further, the nest allows the tool bit to move relative to the opening when in the disengaged position. 
     In another embodiment, the opening is formed by a pliable grommet in the nest and the grommet includes an inwardly facing grommet surface defining the opening. In this embodiment, the grommet surface is adjacent to the elongated side wall of the tool bit when the bit is in the supported position. The flexible member deforms the grommet surface when in the engaged position such that the grommet surface frictionally engages the elongated surface thereby preventing relative movement. 
     In a further embodiment, the grommet frictionally engages the tool bit when in the engaged position and in the disengaged position; however, the frictional engagement in the engaged position is greater than the frictional engagement in the disengaged position such that relative movement of tool bit is at least partially restricted even when in the disengaged position. 
     In yet another embodiment, the tool bit holder includes a first and a second flexible member extending toward one another and which have an overlapping region wherein the overlapping region of the first and second members slideably engage one another and the bit opening is positioned in the overlapping region. 
     In yet a further embodiment, the tool bit holder includes a bit opening in each of the nest that is sized to allow unrestricted axial movement of the tool bit in the nest. The holder further includes two flexible members each having a frictional surface facing one another to be engageable with the tool bit when in the engaged position and being spaced from the tool bit when in the disengaged position. 
    
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
       The foregoing, and more, will in part be obvious and in part be pointed out more fully hereinafter in conjunction with a written description of preferred embodiments of the present invention illustrated in the accompanying drawings in which: 
         FIG. 1  is a rear side top perspective view of a tool bit holder according to one aspect of the present invention; 
         FIG. 2  is a front side view of the tool bit holder shown in  FIG. 1 ; 
         FIG. 3  is a top view of the tool bit holder shown in  FIG. 1 ; 
         FIG. 4  is a front side perspective view of the tool holder shown in  FIG. 1 ; 
         FIG. 5  is a side top perspective view of another embodiment of the tool holder according to the present invention; 
         FIG. 6  is a side top perspective view of yet another embodiment of the present invention; 
         FIG. 7  is a rear perspective view of the tool holder shown in  FIG. 6 ; 
         FIG. 8  is a rear side view of the tool holder shown in  FIG. 6 ; 
         FIG. 9  is a perspective view of a further embodiment of the invention of this application; 
         FIG. 10  is a bottom perspective view of the tool holder shown in  FIG. 9 ; 
         FIG. 11  is a top side perspective view of yet a further embodiment of the invention of this application; 
         FIG. 12  is an end view of the tool holder shown in  FIG. 11 ; 
         FIG. 13  is a bottom perspective view of the tool holder shown in  FIG. 11 ; 
         FIG. 14  is a partially exploded perspective view of the tool holder shown in  FIG. 11 ; 
         FIG. 15  is a top side perspective view of yet another embodiment of the invention of this application; 
         FIG. 16  is an exploded perspective view of the tool holder shown in  FIG. 15 ; 
         FIG. 17  is a top side perspective view of yet a further embodiment of the invention of this application; 
         FIG. 18  is a top view of the tool holder shown in  FIG. 17 ; 
         FIG. 19  is a sectional view taken along line  19 - 19  in  FIG. 18 ; 
         FIG. 20  is a bottom perspective view of the tool holder shown in  FIG. 17 ; and, 
         FIG. 21  is a partially exploded perspective view of the tool holder shown in  FIG. 17 . 
     
    
    
     DESCRIPTION OF PREFERRED EMBODIMENTS 
     Referring now in greater detail to the drawings wherein the showings are for the purpose of illustrating preferred embodiments of the invention only and not for the purpose of limiting the invention,  FIGS. 1-4  show a tool bit holder  10  having a four nest configuration wherein holder  10  includes nests  15 - 18 . However, this embodiment and others should not be limited to the particular number of nests shown in the Figures of this application in that these are only representative of the invention and are not intended to be limiting. 
     Each of these nests are maintained relative to one another and supported by a frame  20  that runs the length of bit holder  10  and from a first end  22  to a second end  24 . However, it is to be appreciated that many structures of bit holder  10  have multiple purposes in that the structure described as frame  20  includes portions of the bit holder that are also structural elements of the nests and components of the nests. Frame  20  includes a base member  30  on backside  32  that extends between first and second ends  22  and  24 , respectively. Backside  32 , in connection with other elements, join nests  15 - 18  to one another wherein nests  15 - 18  are configured to releasably support one or more tool bits referenced in these figures as tool bits b 1 -b 4 . Again, this and other embodiments are not to be limited to the particular number of nests shown. 
     Tool bit nests  15 - 18  each have similar characteristics even though that is not required. In this respect, while all nests can be virtually identical, one or more nests could be modified to receive a different shaped or configured tool bit without detracting from the invention of this application. As is known in the art, there are many types of drives used for tool bits wherein a portion of the nests could be configured to one particular drive while a second portion is configured to a different style drive which could necessitate modifications to the structural elements of one or more particular nests. With respect to the nests shown in these figures, nests  15 - 18  include flexible members  40 - 44  which each extend from a base  46  that is joined to base member  30  to a distal end  48  spaced from base member  30  that generally defines front edge  50 . As will be discussed in greater detail below, members  40 - 44  are configured such that distal end  48  flexes relative to its base to at least in part provide the releasable support feature of the invention of this application. 
     Flexible members  40  and  41  of nests  15  include inwardly facing grommet supports  60  and  62  to support a grommet  64  relative to nests  15 . In this respect, supports  60  and  62  include inwardly facing surfaces  66  and  68  and grommet  64  includes a central groove  70  shaped to receive curved inner surfaces  66  and  68  of supports  60  and  62 , respectively. This configuration supports grommet  64  relative to nest  15 . Grommet  64  can be a wide range of grommets including, but not limited to, a pliable rubber grommet or pliable synthetic grommet configured that is deformable to also in part provide the releasable supporting feature of the invention of this application. Grommet  64  further includes an inner opening  72  shaped to receive a tool bit such as tool bit b 1 . In this embodiment, nest  15  is in the disengaged position when it is at rest. However, when flexible members  40  and  41  are urged toward one another, nest  15  is transformed into an engaged position. More particularly, as flexible members  40  and  41  move toward one another, supports  60  and  62  are forced against the sides of grommet  64 . This action causes grommet  64  to deform wherein opening  72  deforms and provides a frictional force against a side wall SW of bit b 1 . 
     As is known in the art, tool bits include a working end such as working end WE which is configured to engage a tooling slot such as a Phillips drive to turn objects such as a fastener. Tool bits further include a tool end such as tool end TE of fastener b 1  configured to be received and driven by a tool such as a powered screwdriver. As is also known in the art, the working end and tool end of a tool bit can have a wide range of configurations based on the particular application of use for the tool bit and/or the particular tool that is intended to drive the tool bit. Again, this application is not limited to a particular style of tool bit; however, it has been found to work particularly well with standard hex drive or octagonal drive style tool bits configured for use in a power driver and is therefore being described for use with the same. However, it is not to be limited to any one style of tool bit. 
     Nests  16 - 18  also include grommets  64  supported by similar supports  60  and  62  as is discussed in relation to nest  15 . These components work similar to the nest  15  wherein each one will not be described in detail in the interest of brevity. However, not all of the flexible members are the same. In this respect, flexible member  40  includes only a single support  60  facing inwardly from first end  22 . Similarly, but opposite to, flexible member  44  includes a single support  62  facing inwardly from second end  24 . But, flexible members  41 - 43  include multiple support structures wherein these flexible members are used for both adjacent nests. In this respect, flexible member  41  is used to engage and disengage both nests  15  and  16  wherein flexible member  41  includes support  62  for nest  15  and support  60  or nest  16 . Similarly, flexible member  42  includes support  62  for nest  16  and support  60  for nest  17  wherein flexible member  42  is used for both engaging and disengaging nests  16  and  17 . In the same fashion, flexible member  43  includes support  62  for nest  17  and support  60  for nest  18  wherein flexible member  43  is used for both nests  17  and  18 . As a result of this shared configuration of the flexible members, the design of the tool bit holder  10  is simplified and minimized wherein the overall package configuration of this tool bit is compact and the overall structure of the holder requires less material to produce. 
     Tool bit holder  10  can further include bit pockets  70 - 73  for nests  15 - 18 , respectively. These bit pockets can form a portion of frame  20  or can be independent of the support frame and merely a recess for receiving the working end of the respective tool bit. As with all embodiments of the invention of this application, the bit pockets can include a viewing port hole to allow the user of holder  10  to see the working end of the bit. As is discussed throughout this application, tool bits can have a wide range of working ends depending on the particular fastener or other object in which the working end is configured to engage. In this embodiment, nests  15 - 18  include openings  80 - 83  that are a form of port hole used to allow the user to view the working end of the respective tool bit. In addition, bit pockets  70 - 73  can include a tool bit stop  86  configured to limit the axial movement of the respective tool bit through opening  72  of the respective nest. As can be appreciated, if axial movement is unrestricted, a sufficient amount of tool end TE may not protrude out of opening  72  to allow for the tool bit to be grasped and removed from the holder. Similarly, a sufficient amount of tool end TE must protrude from opening  72  if the user is to be able to engage a tool such as a power driver directly to the tool bit when it is positioned in the nest. This allows the user to directly connect to the tool bit while it is in the nest and use the tool to pull the tool bit from the nest. 
     To help facilitate direct engagement by the tool on the tool bit while in the nest, nests  15 - 18  can further include a pilot opening  90  facing the tool end of the bit which includes an inner opening shape to partially receive the gripping portion of the tool designed for use in connection with the tool bit. Again, while nests  15 - 18  are described to be similar to one another, including the components described in connection with each nest being similar to one another, this is not required and the invention of this application is not to be limited to nests having identical or substantially similar configurations. 
     As a result of this operational configuration, the tool bit holder works as follows. To remove a tool bit from the holder, the user can grasp the tool end of the bit with their fingers (depending on the embodiment) or with the chuck of the tool and simply pull the tool bit from the particular nest. The light frictional engagement or generally zero frictional engagement between the nest of some embodiments and the tool bit of some embodiments allows for the easy removal of the tool bit from the holder. The flexible members are maintained in the released position, as is shown, when the bit is removed. The tool bit can be repositioned within a nest by urging the tool bit through the particular opening until it is positioned in the supportive position as is shown in the figures. Then, the flexible members of the particular nest are squeezed together which increases the frictional engagement between the grommet and the tool bit. Once the frictional engagement is increased by this squeezing, the tool can be easily removed from the tool end of the bit thereby releasing the interengagement between the tool and the bit wherein the bit remains within the holder. 
     Tool bit holder  10  and other embodiments of the invention of this application can be manufactured using any known techniques. This includes injection molding at least frame  20  of the tool bit holder. More particularly, frame  20  can be a molded product including, but not limited to, an injection molded product formed by any one of, or a mixture of, polymers, rubbers, natural, and/or synthetic flexible materials or even metallic materials that allow for the flexing action for the releasable supporting feature of the invention of this application. Further, the invention of this application can be a unified component formed by a single material. Yet even further, the invention of this application can utilize multiple stage molding techniques designed to mold multiple materials into a unified product such as multiple cavity molds that mold materials over top of other materials. In this particular embodiment, tool bit holder  10  includes a pliable grommet configuration wherein grommets  64  are separate components from frame  20 . Further, bit stops  86  can also be co-molded with frame  20  or can be separate components attached to the respective bit pockets. 
     With reference to  FIG. 5 , shown is tool bit holder  100  which is an eight nest tool bit holder which includes a front side or first side set of nests  110  and a backside set of nests  112 . In that tool bit holder  100  includes the same nest arrangements as tool bit holder  10 , each particular nest will not be described in detail in the interest of brevity. Tool bit holder  100  includes nests  120 - 123  in front side set  110  and nests  130 - 133  in backside set  112 . However, tool bit holder  110  includes a frame  140  that has a base member  142  that is shared by both front set  110  and back set  112 . Further, the respective bit pockets can also include shared components from the front side and the backside as is shown in  FIG. 5 . In that each of the nest sets includes four nests, bit holder  100  is configured to releasably support tool bit b 1 -b 8 . Again, more or less nests could be included in bit holder  100  without detracting from the invention of this application. 
     With reference to  FIGS. 6-8 , shown is tool bit holder  200  which is a nine nest tool bit holder including nests  210 - 218 . These nests are configured to support tool bits b 1 -b 9 , respectively, and extend from a first end  220  to a second end  222 . Bit holder  200  has a frame  226  that extends between ends  220  and  222  with a base member  230  that is structurally different from the previously discussed tool bit holders. In this respect, frame  226  of holder  200  is a box-like structure including a top member  240  extending between ends  220  and  222  that includes pilot openings  242  for each of nests  210 - 218 . Tool bit holder  200  further includes bit pockets  250 - 258  for nests  210 - 218 , respectively. While these bit pockets perform generally similar to the pockets described above, bit pockets include a different configuration for the tool bit stops. In this respect, bit pockets  250 - 258  include an inverted, generally U-shaped bottom wall  260  that also functions as a tool bit stop. Again, this limits axial motion of the tool bit relative to an opening  270  of each nest  210 - 218  as discussed above. As with other bit pockets, nests  210 - 218  can include a viewing port hole  272  to again allow the end user to view the working end of the particular tool bit. In this particular embodiment, port hole  272  is an opening in the bit pocket. However, it should be appreciated that a transparent or substantially transparent material could be used in connection with this porthole to allow viewing of working end WE without the necessity of having an opening in the bit pocket. Nests  210 - 218  each further include a grommet support  276  to support grommets  278 . In this particular embodiment, support  276  is a single support having an inwardly facing curved surface  280  that extends greater than 180° around the tool bit axis thereby allowing recess  282  of grommet  278  to be snapped into place and retained by supports  276 . 
     Tool bit holder  200  further includes flexible members  290 - 299  that each extend from a base portion  302  that is joined to frame  220  near a backside  304 . Flexible members  290 - 299  extend forwardly from region  302  to a distal end  308  which at least in part forms a front side  310 . 
     In this embodiment, the tool bit holder is in a disengaged position when released and as is shown. In this position, the grommet can be configured to provide a light frictional engagement between the opening in the grommet and the tool bit to reduce the likelihood that the tool bit inadvertently falls from the holder. Then, as the flexible members are squeezed toward one another, the members deform grommet  278  between the members which in turn deforms opening  270  and increases the frictional engagement between the opening and the tool bit as is discussed in greater detail above. 
     With reference to  FIGS. 9 and 10 , shown is a tool bit holder  400  which is a six nest tool bit configuration having nests  410 - 415 . Tool bit holder  400  includes a first end  420  and a second end  422  wherein a frame  426  extends between ends  420  and  422  in a longitudinal direction. In this particular embodiment, frame  426  includes a base  430  that is axially spaced from openings  432  in the respective nests. 
     Each nest includes a pilot opening  434  in base region  430  that can include a pilot ring  438  that can be co-molded with frame  426  or which can be a separate component that can be attached to frame  426  by any means known in the art including, but not limited to, a snap fit or a press fit configuration. As can be appreciated, adhesives could also be used to facilitate the permanent joining between the frame and the pilot ring. These openings and/or rings can further include a tapered opening  436 . 
     Nests  410 - 415  further include flexible members that function similar to those discussed above with respect to other embodiments but which are configured differently. In this respect, nests  410  include flexible members  440  and  441  that extend upwardly from base  430  of frame  426 . These upwardly extending members can include a flexing curvature  444  and  446 , respectively, which can be used to control the flexibility characteristics of these members and the inward force produced by these members when they are in the relaxed condition as is shown. 
     Member  440  includes an upwardly extending element  450  extending from curvature region  444  to a finger tab  452 . As will be discussed in greater detail below, finger tab  452  can be used to apply an inward pressure on the particular nest to help control the frictional engagement between the nest and tool bit b 1 . Flexible member  440  further includes an inwardly extending support section  454  having an inward facing surface  456  configured to engage a grommet  460  having an opening  432  for each nest. In this particular embodiment, the grommet is an elongated grommet generally extending between ends  420  and  422 . 
     Similar to member  440 , member  441  includes an upper extending element  462  extending between curvature region  446  and a finger tab  464 . Member  441  further includes an inwardly extending section  466  having inwardly facing surface  468  for engagement with grommet  460 . As with other embodiments of this application, squeezing flexible members  440  and  441  together urges surfaces  456  and  468  toward one another, thereby deforming opening  432 . This results in an increase in the frictional engagement between the grommet and the tool bit thereby locking these two components together. As was discussed above, when the tool bit is placed in the particular nest, the tool bit is forced through one of openings  432  and then flexible members  440  and  441  can be squeezed together so that the tool can be removed from the tool bit by pulling the tool away from the bit and out of the pilot opening in the particular nest. By increasing the frictional engagement between the tool bit and the nest, the bit can be more easily removed from the tool when the user is done with the particular bit. Since each of the nests in this embodiment generally function the same, each nest will not be discussed separately in the interest of brevity. 
     With reference to  FIGS. 11-14 , shown is a tool bit holder  500  having six nests  510 - 515  for supporting tool bits b 1 -b 6 , respectively. Again, while a single type of tool bit is shown, this application and each embodiment is not to be interpreted as being limited to a particular tool bit. Too bit holder  500  includes an elongated frame  520  extending between ends  522  and  524 . Frame  520  further includes a base  530  that is axially spaced from a tool bit opening  532  and each nest includes a grommet  534 . While not necessary, each of nests  510 - 515  include the same grommet  534  with an opening  532 . With respect to the nests, each nest includes a pair of flexible members  540  and  541  wherein flexible member  540  includes a curved flexing region  544  joining an upward element  546  to base  530 . Flexible member  540  further includes an inwardly extending section  548  that includes a grommet opening  550  shaped to receive and maintain grommet  534  of the tool bit holder. 
     Similarly, flexible member  541  includes a curved flexing region  554  joining an upward extending element  556  to base  530 . Flexible member  541  further includes an inwardly extending section  558  which includes grommet opening  560  also shaped to receive and retain grommet  534 . However, it should be appreciated that both inwardly extending regions do not need to fully retain and hold the grommet in position. Inwardly extending sections  548  and  558  are in sliding engagement with one another such that squeezing members  540  and  541  together can alter the shape of opening  532 . 
     In one embodiment, the frictional engagement between opening  532  and tool bit b# is increased when members  540  and  541  are squeezed together. In another embodiment, the frictional engagement between the opening and the tool bit is reduced when these members are squeezed together. These differences in the embodiments can be utilized to customize the actuation of the tool bit holder without detracting from the invention of this application. As with other embodiments in this application, the opening in the grommet that receives the tool bit can be deformed by the sliding action caused by the actuation of the flexible members wherein the force applied by squeezing the flexible members can be translated to the tool bit by way of the grommet. 
     Each nest  510 - 515  can further includes a pilot opening  570  in base region  530  that can include a pilot ring  572 . As with other embodiments, ring  572  can be co-molded with frame  520  or which can be a separate component that can be attached to frame  520  in a hole  574  by any means known in the art including, but not limited to, a snap fit, a press fit configuration or by adhesives or friction welding. Pilot opening  570  and/or ring  572  can also include a ramping region  576  to help align the tool bit in opening  570 . 
     Again, each nest in tool bit holder  500  can be generally the same or could be configured to work in connection with a different size and/or configuration of tool bit such, but not limited to, a different working end WE. In this particular embodiment, each nest is configured generally the same as the remaining nest whereby further discussion with relation to nests  511 - 515  is not being articulated in the interest of brevity. 
     With reference to  FIGS. 15 and 16 , shown is a tool bit holder  600  which includes 12 nests,  610 - 621 . Holder  600  extends between a first end  624  and a second end  626  wherein holder  600  has an elongated frame  628  extending between ends  624  and  626 . Holder  600  further includes a flexible cap member  630  that interengages with frame  628  to form tool bit holder  600  and which will be discussed in greater detail below. Again, in this embodiment, the nests are generally configured the same wherein in the interest of brevity, a single nest will be discussed and this discussion applies equally to all nests. Again, it is also important to understand that each nest does not need to be the same, and further that an embodiment of the invention of this application can include more than one nest configuration described in this application including equivalence thereof. 
     With respect to holder  600 , each nest includes a bit pocket  634  joined to frame  628  that includes a base portion  636  having a generally, inverted U-shaped configuration, forming a bit stop  638 . As is discussed above, bit stop  638  can be used to limit the axial movement of the tool bit such that the tool end of the tool bit remains exposed thereby allowing the bit to be grasped by one&#39;s fingers or by the receiving end of a hand tool such as a power driver. Nest  610  further includes a nest opening  640  shaped to receive tool bit b 1 . In this embodiment, opening  640  is a non-formable and non-frictional opening that can be shaped and sized to allow the free axial movement of b 1  relative to frame  628 . However, in another embodiment, opening  640  can be configured to provide a slight resistance fit between the tool bit and the frame to allow the removal of the tool bit from holder  600  but which prevents the tool bit from inadvertently falling from the particular nest. 
     Bit pockets  634  can further include at least one porthole  642  thereby allowing the user to view working end WE of the tool bit when it is in the supported position shown in  FIG. 15 . As with the other embodiments of this application, this porthole can be an opening or can be a transparent section within the pocket to accomplish this goal. Frame  628  further includes stanchions  650  that extend upwardly to allow cap member  630  to be joined to frame section  628 . This interengagement can be achieved by any means known in the art including, but not limited to, use of adhesives, locking arrangements, heat welding, and/or fasteners. By utilizing stanchions  600 , cap member  630  is properly spaced from the frame to allow for the desired amount of coverage of the tool bit. In this respect, the stanchions can be configured to completely cover the tool bit including the tool end of the bit thereby further preventing the tool bit from inadvertently falling from the holder without the need for frictional engagement between the tool bit and the holder. Cap member  630  can include a pilot opening  654  for each nest sized to allow the tool holding portion of an associated driver to pass therethrough and engage tool end TE of bit b 1 . 
     Top section  630  further includes downwardly extending flexible members  660  and  661  that downwardly extend from a top planar section  662  of cap  630 . As is shown, opening  654  can be in section  662 . Flexible member  660  and  661  can be squeezed together by the user such that frictional engagement surfaces  666  and  668  can be selectively engaged against the elongated outer surface of b 1 . When engaged against the outer surface, these frictional surfaces can prevent axial movement of the tool bit to allow the bit to be removed from the tool. Then, when in the relaxed condition shown, the frictional engagement is released and the tool bit can be removed from the tool bit holder by the working end of the driver. In one embodiment, the entire top section  630  can be formed by a resilient material wherein the frictional properties needed to engage the tool bits are molded into the entire component. For example, this component could be molded from a low durometer material having a high coefficient of friction that is also flexible thereby allowing the flexibility of flexible member  660  and  661  and also producing the necessary frictional engagement between these flexible members and the tool bit. 
     With reference to  FIGS. 17-21 , shown is tool bit holder  700  which is in a circular configuration as opposed to the elongated configurations described above. Holder  700  can utilize any one of the tool holding configurations described above or even a combination thereof in this circular configuration. Further, tool bit holder  700  can have a frame  710  which a rotational base member  712  that can rotate relative to frame  710  to proved the necessary compression of grommets  720 . As is discussed above in greater detail, the compression of a grommet can be used to increase the frictional engagement between the grommet and thus the nest and the too bit. Further, grommet  720  can maintain a desired minimal frictional engagement when base member  712  is returned to the position shown in the figures. This is a form of “indirect” contact between the flexible member and the user&#39;s fingers. In this respect, as is shown in the embodiments above, the flexible members are directly engaged by the user&#39;s fingers wherein the flexible members are squeezed to produce the frictional engagement between the particular nest and the tool bit for the releasable support therebetween. In this embodiment, the compression of the grommet is produced by rotation of the central member  712 . Further, this rotation compresses all grommets at one time as opposed to the nest by nest compression configurations described above. 
     While considerable emphasis has been placed on the preferred embodiments of the invention illustrated and described herein, it will be appreciated that other embodiments and/or equivalents thereof can be made and that many changes can be made in the preferred embodiments without departing from the principles of the invention. Accordingly, it is to be distinctly understood that the foregoing descriptive matter is to be interpreted merely as illustrative of the invention and not as a limitation.