J.D. goes through the basics of what types of patents are out there including utility, design, and plant. Matt and JD talk about different types of apple plant patents and go back and forth over which apple is better: honey crisp or cosmic crisp! 

The two of them critique a shark tank pitch by Plunge which is impressive, but upon further diligence there is no patent or trademark protection, and as the two discuss that leaves room for competition, which may be why Robert (the shark) never actually made the investment after the show.

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We had a special guest, Augie Johnston of VidChops on our show this week. He laid out the state of the industry on video content marketing. We discussed how to go about organic versus paid marketing for every stage of start-up from just getting started to a mature business. 

We critiqued an Easter Egg business as they pitched on Shark Tank and talked about how they were patent pending, but only with a design patent. JD elaborated on the benefits of being patent pending, but how a design patent can be limiting in terms of overall coverage. 

Matt talked about their trademark status and the separate classes that they may have missed on their first application. 

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J.D. and Matt hosted Bold Client, Peter Rudolf the inventor of a self-sanitizing cutting board that would save time/space with a dishwasher-mounted cleaning device integrated with a countertop. Peter went through his invention process and shared the current status of his filings both domestically and internationally. He gives some great tips on how he's approaching the post-grant licensing world and being cautious about vendors/companies that want to help him market his invention. 

They all three critiqued a Shark Tank episode where PrepDeck product owner pitched their solution to preparing meals for chopping/cutting different spices, and ingredients. There was no deal made, but the overall business seemed quite strong with big margins. The only critiques were on the trademark, they should be using the (R) symbol instead of the "TM" symbol on their brand, and on the patent side, while it was good they went after the utility and design, they don't seem to have any foreign/PCT patents pending, so their exclusivity to make/use/sell is limited to the US market. 

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J.D. interviewed David Jeans, Business Attorney and partner of Rez Legal law firm based in Jacksonville, Florida. David shared his insights for small business startups as well as best practices for inventors. We spent a good chunk of time talking about the importance of contracts and invention ownership agreements at the onset. 

The two of them critiqued a standing desk startup with suction cups that would be strong enough to perform as a work desk. JD pointed out that they didn't hold any patents on the device/product and that will likely limit them in their market potential.

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Have an invention or brand to protect? Or just curious about learning more? Download our FREE Inventor Kit here: https://keap.page/gw292/inventor-kit.html

DISCLAIMER
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J.D. and Matt host Dr. Catrise Austin of www.drcatriseaustin.com a Celebrity Branding Coach. She's also the "Queen of Smiles" and has an illustrious career as n A-list celebrity dentist. She unveiled Steps 1 and 2 of her "Fame Formula" with our audience and went over some extensive tips/tricks on social media, including how to tag and follow celebrities who are in your target customer's feeds. 

The three of them did a critique of "Mcsquares" a business solution that replaces sticky notes with magnetic tiles! J.D. commented that he was very impressed with the company's 14 patents and 5 trademark registrations. The thoughtfulness of the product is likely what led Mr. Wonderful to invest $300K with them (albeit for 25% equity). Matt commented about McDonald's and while it was similar to the hamburger giant's name, the industry is different enough not to warrant any confusion in the marketplace. 

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J.D. and Matt hosted Bold Patents client, Chris Hopkins of RiverTec. He walked us through the Salmon fishing in the Pacific Northwest and his background in engineering met with fishing hobby to start his interest in developing better tackle to catch fish easier. His invention he just recently patented is a lure design for loading tuna or other bait inside of the plug/swivel that goes on the line of the fish bait. 

Chris also explained that (while under NDA with regards to the name of the company) he was able to secure a licensing agreement with a large manufacturer who will be able to get his product on the shelves at most every state in the US! 

We did a shark tank Bold Bite on a company called "Animated Lure" which designed a robotic/electronic fish that moves like a fish. They weren't able to secure patent protection, so that was what JD highlighted, and Matt pointed out that they did get a trademark registered, but the overall business plan may have holes. Chris didn't think that type of a lure would do well with Salmon but thought other types of fish might go for it. 

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J.D. and Matt host a specal guest, Brandon Nicholas of the Small Business Development Center (SBDC) and discuss the types of businsses and individuals that can benefit from the advise of a FREE SBDC advisor. We first touched on fundraising and specifically the benefit of the SBDC to help with bank financing and seeking a loan. Brandon discussed the national SBDC federal fund as well as how the state-run and county-run operations work. 

The group critiqued a snippet of shark tank episode in the Bold Bite Segment where an entrepreneur with the floating mug pitched, but unfortuantely didn't get a deal. J.D. walked the audience through the core differences between a design and a utility patent and Matt explained that "The Floating Mug Company" was a terrible trademark name as it is WAY too descriptive of the product, and likely the reason the company couldn't secure trademark protection. 

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J.D. and Matt co-hosted a show dedicated to fitness! We had a special guest, a Bold client inventor and business owner, Steve Hoover of Homestrong Fitness. Steve walked our audience through his journey of innovation starting in COVID with no way to get to the gym, and solving the problem by creating a revolutionary resistance training device that is affordable and full-body. 

Steve confessed that he filed his own patent application with the help of the patent office help desk, who could only offer basic information, as they cannot provide legal advice. Unfortunately, he faced several rejections from the USPTO examiner, but found BOLD and our attorneys were able to help resolve the issues and get his patent to grant! 

Steve went on to talk about going to market, lining up a manufacturer and designer to get the product just right. He's on the cusp of going live with his product with online sales at $999. We're cheering him on!!! 

We then all did a critique of fitness product Terra Core which is more of a device than a system (which Steve has) and we went through the pros and cons of their patented product. The major difference, as JD went through was that they only had a design patent to protect their shape/appearance, and how that wasn't as strong as Steve's utility patent, which covers the functionality. 

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J.D. and Matt host Rodrigo Lima, Founder and owner of Lime Design, based in Florida. Rodrigo walks the audience through the main steps of initial ideation phase to prototyping, functional prototypes, and final manufacturing through third parties.  He explained the ways to work with a design team best, and how to work hand-in-hand with patent counsel at the very start to assure the innovaiton is protected. 

Rodrigo also gave some real-life examples of products and the stories behind them from flashlights, to knife-handles, to software/apps they have developed. 

All three of them then critiqued a short clip from Shark Tank where CoinOut developed a software solution to applying any cash change into digital currency or a simple deposit into your online bank. Matt confirmed the trademarks were filed well and seemed appropriate, but J.D. pointed out that they fell short on the IP side, and didn't have any patents filed on the software method/process. 

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DISCLAIMER
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J.D. and Matt host Dr. Jeremy Krell, co-founder of Revere Partners, the first venture capital firm focused solely on oral health startups/businesses. Dr. Krell shared with our audience how venture capital fits into the overall scheme of fundraising and also gave examples of what type of information he and Revere look for when considering whether to make an investment. 

The three then critiqued a short Shark Tank pitch from RoloDoc, which was a very bad presentation on  social media infused doctor to patient communication. While the co-founders were doctors themselves, they failed to demonstrate the demand and were not clear on how they would use the investment, even if they got it. 

Support the show

Have an invention or brand to protect? Or just curious about learning more? Download our FREE Inventor Kit here: https://keap.page/gw292/inventor-kit.html

DISCLAIMER
Everything discussed on this podcast is for informational purposes only and not for the purpose of providing legal advice.