Yep you'd better have a patent(s), AND make sure you aren't inadvertently using existing patents. Most patents aren't in use, and if you go on tv without knowing first, you may cause yourself some grief.
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My wife says I should go on Shark Tank
- Thread starter Redredington
- Start date
Yep you'd better have a patent(s), AND make sure you aren't inadvertently using existing patents. Most patents aren't in use, and if you go on tv without knowing first, you may cause yourself some grief.
If you read the fine print that they only show briefly at the beginning you will see that they have is setup legally that you will give them a percentage of your future profits just for being on the show. So even if non of them makes you a deal you still owe them.
I know a guy that builds those that are very similar and sells them as well, he takes them to NASCAR events also. I also believe he has built several for race teams, I assume he has a patent...
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Read the fine print. Even if you do not make the show, they can still own a % of future profits.
A business partner and I were invited to submit for the show. We read the fine print, and needless to say we did decided against it.
A business partner and I were invited to submit for the show. We read the fine print, and needless to say we did decided against it.
I believe there is a market for them, but not through the Shark Tank. From what I have seen on the show they are primarily interested in items that they can outsource to China and flip a quick dollar on. Some of the guests get a deal and stay small and local but those are rare and usually very marketable to everyone. This idea would be profitable but mainly through outdoors and home trade shows.
Just my $0.02
Just my $0.02
