Shark Bait - Episode 804
Shark Tank Season 8's, Episode 4 aired on Friday, October 14, 2016. The episode features Angels and Tomboys, Atlantic Candy Company, Biem and Solemates. It also includes an update to a prior funded company The Natural Grip, LLC.
The Natural Grip
The Natural Grip is a brand of reusable tape grips based on ring finger. The business was invested in by Robert in Season 6. Now, two seasons later, the patent described in the episode issued.
US Patent 9,380,817 is titled Finger Loop Palm Protector and issued on July 5, 2016. The company was strategic in filing a non-publication request when they submitted the patent application on April 8, 2014. By doing so, they prevented competitors from potentially designing around their patent before it issued.
In addition, the Natural Grip, LLC has two registered trademarks: US Reg. No. 4,879,950 for their logo and US Reg. No. 4,879,949 for their brand "THE NATURAL GRIP."
ANGELS and TOMBOYS
Young entrepreneurs selling lotion on Shark Tank. Clever names and marketing ... Mark and Daymond can't resist investing in the company for $55K for a 20% stake in the company.
Angels and Tomboys has US Trademark Reg. No. 4,663,490. On their website, they boast "...paraben free, patent pending, vegan friendly formula...." At a minimum, their formulations are a trade secret and could be kept so until a patent application is published or the patent issues.
Atlantic Candy Company
The product, Toy Box (below), is exciting and has a solid intellectual property portfolio. In addition, the company appears to have navigated FDA rules to be the only product like this in the United States.
Unfortunately, for Atlantic Candy Company the product was not picked up by a shark largely because the patents are expiring soon and the product will need to be rushed to market.
Atlantic Candy Company has patent protection but it is going to expire in the next couple of years. It's patents include US5,925,391 and US6,099,872 but these expire twenty (20) years from the priority date or April 22, 2018. That leaves less than two (2) years left in the patent life.
Additionally, there's a pending trademark application for TOY BOX, USSN 87/130,318, and SAFE-CAPSULE is marked with a (TM) on their website to indicate its use as a common law trademark.
Finally, Atlantic Candy Company has trade secrets around the manufacture of the product that may help extend its competitive advantage when the patents expires.
BIEM
Lori made the deal at $500,000 for 14% equity in the company.
Brevada Inc. has U.S. and foreign patents pending for their liquified butter sprayer (See US2016184848 and WO2015US68155) and a pending trademark application for BIEM (See USSN 86/869,511). Also, disclosed on the show is that there is a pending design patent.
Solemates
Shark Tank was all over their website the week leading up to this episode. That was a good sign that they had been picked up by a shark. Indeed, Robert was the winning shark having his offer for 20% equity for $500,000 accepted.
The women behind SOLEMATES have been busy building a business that would impress any shark. In addition, they've protected it well with with intellectual property.
They've also acquired a nice trademark portfolio which includes:
US Reg. No. 5038797 SOLEMATES TSDR
US. Reg. No. 4902745 COBBLER'S COUTURE TSDR
US Reg. No. 4385128 STAY HIGH ON GRASS TSDR
US Reg. No. 3745196 BE WELL-HEELED TSDR
US Reg. No. 3664662 HIGH HEELER TSDR
Finally, they have two issued patents: US8033035 and USD632463.
The utility patent abstract describes the invention as a slip-on, slip-off stabilizing support accessory for a stiletto heel.
In addition, an international patent is pending that could extend patent protection to several countries. (See WO09139788).