New Way to Raise Funding for that Great Idea!

New Way to Raise Funding for that Great Idea!

Whether it is to manufacture or produce a product or create and engage in a widespread marketing or advertising campaign, old methods of raising funding and other capital through bank or personal loans is slowly fading for many inventors and small business.   Many contemporary methods to fund that great idea or product development include crowdfunding websites and applications such as Kickstarter, GoFundMe, Indiegogo, or Crowdrise.  Many inventors and businesses have found these crowdfunding means beneficial to accomplishing those funding goals, with minimal risks.

Crowd funding, however, has now been taken to the mainstream media.  No, we are not talking about ABC’s exciting show Sharktank, where a group of angel investors, typically consisting of Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and “Mr. Wonderful” Keven O’Leary, listen to pitches from business owners and inventors seeking money or other capital in exchange for typically debt or equity from the “sharks.”  Introduce the new show by ABC called “Steve Harvey’s Funderdome.”  This new show provides two or more inventors and/or business owners a small amount of time to pitch their idea to an inhouse group of audience members that vote on which inventor or business owner should receive funding for their product or idea.  ABC describes the show as follows:

The inimitable Steve Harvey is hosting a new, groundbreaking show on ABC looking for great innovators and entrepreneurs to help fund their American dream. We’re looking for mom and pop businesses, unique and interesting products, or creative ideas that just need a little more money to jumpstart their next phase. You could win anywhere from $10,000 – $100,000, all you have to do is win over the live studio audience and convince them that you deserve to be funded.

Having experienced this show first hand, it is also very exciting and provides another avenue for inventors and business owners to make that dream a reality, by getting funding for product development, product manufacturing, product production, or product advertising and marketing.

We at Johnson Dalal, however, would caution any inventor or business owner desiring to publicly disclose or market their idea or invention to consult with an intellectual property professional, particularly one board certified in intellectual property law, to ensure said invention or idea is adequately protected.  This protection may occur through a Federal trademark filing, the filing of a copyright application for a work of authorship, and/or a utility or design patent application.

For more information on how our attorneys can help, please feel free to contact us at (954) 507-4500 and ask to speak to one of our qualified attorneys.

Copyright 2017 Johnson | Dalal, The Intellectual Property Law Firm, PLLC

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