From Wicked Good Cupcakes® to Squatty Potty®, the tv series Shark Tank® has taken some of the most innovative ideas from entrepreneurs and turned them into sensational hits in the market. Each of the “sharks” who presents an offer to the inventor is a successful entrepreneur themselves, with a keen ability to evaluate the value and potential of the product, and decide the best way to invest and grow the company for mutual success.
Fans of the show all tend to have their favorite “shark” that they would want to work with given the opportunity. Each has a different perspective on the path to success, and a different offer to the inventor to lead them down that path. Despite their differences, each of these leading investors does consistently ask one question— whether the invention or the brand presented, or both, are protected.
Ideally for a new venture, both the product and the brand will be protectable. But for some inventors, a product may not qualify for patent protection. However that doesn’t stop the brand name from registration. That brand is a valuable part of a product or service, and the ability to protect it enhances the overall value of the company. The sharks looking to invest in a product or business always want as much protection as possible, because it helps to secure their investment.
A registered trademark can add value to your business from an investor’s point of view, and protection for you as the owner of that mark. Registration of your mark allows you to prevent third parties from using a name or logo that is similar to yours for related goods or services. It also helps protect the reputation of your company by ensuring that no copycats or bad actors can drag your name down with bad publicity. Your registered mark is a protection that can lead to expansion of your business from a local market to a national one.
So why do sharks like a registered brand? As an investor, they want protection of their funding for the company and product they are working with, which includes the ability to pull funds out of the business when needed. By securing exclusive trademark rights the company has secured a tangible business asset. A registered brand holds asset value when a business owner seeks to sell their company, or is applying for loans, and are frequently used as security. Sharks know this, and therefore seek a protected brand as a way to secure their investment in it.
Now that you’ve learned a lesson from the sharks, it’s time to review your own business brand assets. With over 20 years experience in the field, we can help protect your brand, with or without a shark!