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Re: "Shark Tank" Contest

Postby Road Show » Mon Feb 20, 2012 9:09 am

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I watched this show the other night, and got re-inspired to pick up where I left off on my own inventions. Scrupulous...have you read this show's waiver? Is it as bad as the American Inventor agreement? Good to see you're still kicking around these forums...at least I think you are...lol! :lol:

Re: "Shark Tank" Contest

Postby froggy » Mon Mar 05, 2012 8:37 am

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It inspires me every year,,.lol I never give up... just get busy with "life" and have to work for a paycheck once in awhile.

Re: "Shark Tank" Contest

Postby inventor-x » Wed Apr 04, 2012 3:42 pm

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Hi All
Here are some postings that I did not post about the show
I have to admit that the show was alot more entertaining this season

The show is now repeating episodes
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Shark Tank Season 3 Premiere Moved Up to Jan 20
December 15, 2011
by Andrew
in Shark Tank Season 3
In a bit of a surprise move (but a great one for Shark Tank fans), the next season of the show will debut on Friday January 20th @ 8ET/7ET on ABC. Originally the new season was slated to air on February 3.
We’re very excited about this development and can’t wait for the third season of the best show on television.
Feel free to let us know your thoughts in the comments. And don’t forget, Mark Cuban is appearing in 10 of the 13 episodes for this next season. The Sharks are going to be battling it out over the best ideas from an array of entrepreneurs.
-----
Season 3 of Shark Tank Premieres TONIGHT at 8/7 CT!
Tune in tonight and join us during the show @SharkTankABC to live tweet! We have been waiting quite some time for this season premiere, and can’t wait to discuss this season’s entrepreneurs, offers, and of course the Sharks as well!
January 20, 2012
by Andrew
in Shark Tank Season 3
-----
Season 3 of Shark Tank Premieres with High Ratings, Trends on Twitter
January 21, 2012
by Andrew
in Shark Tank Season 3, Social Media
Apparent to many of the Shark Tank viewers tweeting during last night’s season premiere, more people than ever before were tweeting #SharkTank in their comments on Twitter. This was more than just a hunch, as in the 8:00 hour (Eastern Time Zone), the #SharkTank hashtag became a trending topic nationwide for the first time. By my unofficial count, between 5,000-10,000 tweets containing the hashtag were sent over that hour. InTheSharkTank’s twitter account, SharkTankABC, jumped nearly 500 followers in a single day yesterday, which also set a record for us.
Speaking of records, last night’s episode won its time slot for the coveted 18-49 demographic, according to Zap2It’s Jean Bentley. 6.2 million total viewers tuned in to see Daymond, Mark, Kevin, Barbara and Robert get into a feeding frenzy over several pitches. It was an awesome all-around episode.
If this is your first time visiting InTheSharkTank, please have a look around, we’ve got information on what to do if you’re thinking about applying to appear on Shark Tank next season, articles about previous episodes of the show, and even a new directory of past show contestants.
We couldn’t be more excited about this new season of Shark Tank, and the outpouring of fan/viewer commentary. What did YOU think of last night’s episode? Please leave a comment below.
Welcome aboard, Shark Tank fans old and new!
-----
Preview of Tonight’s Episode
January 27, 2012
by Andrew
in Shark Tank Season 3
Check out a short preview of tonight’s Shark Tank episode below. Join us at 8/7 CT to live tweet during the show! We’re looking forward to an exciting episode.
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Donny McCall’s Invis-A-Rack Segment Evokes Passionate Fan Commentary
January 28, 2012
by Andrew
in Shark Tank Season 3
If you’d like to leave a comment along with other Shark Tank viewers/fans regarding last night’s episode, please do so! We’ve been hearing a lot of thoughts and feedback related to Invis-A-Rack, which is a truck cargo management product pitched by its founder Donny McCall on last night’s episode.
Whether you dislike the Sharks’ decision not to invest, or like the outcome, please comment and let us know.

View the full episode for free
Listen to our interview with Donny (mp3)
-----
Preview of Friday 2/3 Episode
February 2, 2012
by Andrew
in Shark Tank Season 3
Join us this Friday at 8/7 CT to live tweet during the show! We’re looking forward to an episode that features Barbara laying down the law on the gents.
According to the network, the Sharks will hear pitches on a fragrance that smells like money, luxury soap with a twist, a unique guitar learning system, and a blinking accessory for jeans. Sneak peek below:
-----
InTheSharkTank’s Inaugural Podcast Ep: An Interview with Donny McCall of Invis-A-Rack
February 10, 2012
by Andrew
in Podcast, Shark Tank Season 3
I’m very glad to post our first podcast episode today, and we couldn’t have welcomed a more timely guest in Invis-A-Rack’s Donny McCall. Thanks to Donny for his time. There’s certainly a pattern with most of the entrepreneurs that make it onto the show and pitch to the Sharks — their lives are turned upside down by the wave of attention after their episode airs.
Download the mp3 or listen to the interview below:
Be sure to listen closely when Donny mentions the support and response from viewers — pretty amazing stuff. Whether you agree with the Sharks decision to drop out of the bidding or Donny’s decision to source his manufacturing domestically, it’s obvious that a humble, good man pitched his idea a few weeks ago.
Technical note: We’re awaiting for our podcast to be approved by iTunes, which usually takes a few days. Next week I’ll be adding a link to the right side of the site so that you can subscribe to the podcast.
Relevant Episode Links:
Invis-A-Rack
Invis-A-Rack’s Kapipal Donation Page
Next week’s guest: Steve Gadlin, who recently pitched “I Want To Draw a Cat For You”
-----
Preview of Tonight’s (2/10) Episode
February 10, 2012
by Andrew
in Shark Tank Season 3
Join us tonight at 8/7 CT to live tweet during the show! We’re looking forward to an episode that features a new guest shark, Lori Greiner, making a huge offer, and overall an entertaining, must-see episode. What a way to introduce yourself, Lori!
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Shark Tank’s Ratings Rise, Wine Balloon Offers Stir Commentary
February 11, 2012
by Andrew
in Ratings, Shark Tank Season 3
The numbers from last night’s Shark Tank episode are in, and it ain’t pretty for the other networks. According to several sources including Hollywood Reporter, Shark Tank won the night in the all-important 18-49 age category. Even more interesting, 700,000 more people tuned in to Friday’s show than the previous week. The power of recommendation is amazing!
View full episode online
Many viewers of the show (old and new) have been active on Twitter, live tweeting using the #SharkTank hashtag during the 8/7 CT hour that the show airs in the Eastern and Central time zones. Twitter has certainly taken notice of our efforts tweeting @SharkTankABC. Since Friday morning we’ve gained nearly 500 followers, and with the Sharks live tweeting as well, it’s been a fantastic time.
If you just happened by InTheSharkTank for the first time, welcome! This is the perfect place to leave a comment on a recent episode, check out casting information, dive in to the directory of past contestants and much more.
Speaking of past contestants, our preview post for Friday’s episode is getting a lot of commentary regarding the Wine Balloon pitch, during which the Sharks sunk their teeth into the company’s founder, Eric Corti, with a barrage of offers ranging from a 30% equity stake (Kevin) to an outright purchase of the entire company for $600K (Lori and Mark). The pitch and ensuing offers are great fodder for a business school classroom, not to mention blog comments on the internets.
What would you have done if you were the inventor/founder of the Wine Balloon? I think I would have demanded the 2% royalty be a part of the deal, but then again I’ve never been offered $600K for my company.
UPDATE: According to a tweet sent last night by Wine Balloon’s founder, he still has control of his company and is still hoping he can reach a deal and partner with the Sharks.
-----
Invention USA on the History channel is now accepting applications for a new season until April 27th 2012

I wish anyone that applies the best

Re: "Shark Tank" Contest

Postby inventor-x » Mon Sep 10, 2012 11:21 am

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Hi All
Just a heads up
Shark Tank's all new season starts Friday September 14th on ABC
Excuse me for not posting the Auditions schedule thinking that someone else would?
ABC must be making some money off of the inventions on the show?
Jack I hope you applied
Last edited by inventor-x on Mon Sep 17, 2012 11:01 am, edited 1 time in total.

Re: "Shark Tank" Contest

Postby AlanAmron » Thu Sep 13, 2012 10:33 pm

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An NDA is the best way to protect your invention, but searching it first is recommended.

Alan
ideaApp.com

Re: "Shark Tank"

Postby inventor-x » Wed Apr 10, 2013 12:50 pm

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Hi All

Sorry for the short notice if you have not heard the word?

ABC’s “Shark Tank” is NOW accepting applications for open casting calls

Before you download the application be sure to read the next two (2) post
Notice:
1 "How Do I Get On Shark Tank?"
2 "How I Got On Shark Tank"

Here are the dates & locations

SHARK TANK 5 OPEN CALLS

Attend one of our Nationwide Open Calls where you will be given the opportunity to do a (1-minute) pitch of your business/product/idea to a member of the Casting Team - just like you would as if you were on the show. Come prepared to wow and dazzle us. You must also bring with you a completed application, which you can download here. Only the first 500 applicants are guaranteed to be seen so arrive early and get your numbered wristband. Be advised: security may check your bag and you are responsible for your own parking. We do not validate. Good luck.

SUNDAY, APRIL 14TH - ATLANTA
THE FOX THEATRE
660 Peachtree St. NE
Atlanta, GA 30308
11:00 AM to 1:00 PM - Numbered Wristbands Distributed
12:00 PM - Interviews Begin

SATURDAY, APRIL 20TH - DALLAS
WFAA - VICTORY PARK
3030 Olive St.
Dallas, TX 75201
9:00 AM to 11:00 AM - Numbered Wristbands Distributed
10:00 AM - Interviews Begin

THURSDAY, MAY 9TH - CHICAGO
SHEDD AQUARIUM
1200 S. Lake Shore Dr.
Chicago, IL 60605
12:00 PM to 2:00 PM - Numbered Wristbands Distributed
1:00 PM - Interviews Begin

SATURDAY, MAY 11TH - PHILADELPHIA
NEXTFAB STUDIO
2025 Washington Ave.
Philadelphia, PA 19146
9:00 AM to 11:00 AM - Numbered Wristbands Distributed
10:00 AM - Interviews Begin

FRIDAY, MAY 24TH - LOS ANGELES
BEVERLY GARLAND'S HOLIDAY INN
4222 Vineland Ave.
North Hollywood, CA 91602
10:00 AM to 12:00 PM - Numbered Wristbands Distributed
11:00 AM - Interviews Begin

By downloading the Initial Application Packet you acknowledge and agree that these materials are proprietary to Producer, will not be used for any purpose other than to apply for Shark Tank, and will not be disseminated or distributed to any third party.

I wish all that apply the best
Last edited by inventor-x on Wed Apr 10, 2013 1:20 pm, edited 1 time in total.

Re: "Shark Tank"

Postby inventor-x » Wed Apr 10, 2013 12:53 pm

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http://sharktanksuccess.blogspot.com/20 ... -tank.html
Get On The Shark Tank
How Do I Get On The Shark Tank?

Hard facts you need to consider before you apply to get on the ABC'S "The Shark Tank".
Sharktank is owned by the Walt Disney Internet Group which controls several Internet Properties including ABC.com, ABCNEWS.com, Disney.com, DisneyShopping.com, GO.com and Movies.com to name a few. Getting on the Shark Tank, as you might expect, you will be entering into a length legal business contract in which high paying lawyers made sure that the Walt Disney Internet Group is covered for anything imaginable. The "Terms of Use" that you must agree to before they will even consider you is located on Disney's Corporate Website. Baring hiring a lawyer to explain these rather long terms to you, the short side is THEY MAY TERMINATE YOUR ACCESS OR CHANGE OR DELETE CONTENT OR FEATURES IN ANY WAY, AT ANY TIME AND FOR ANY REASON OR NO REASON. Bottom Line, from a legal stand point if something should happen, a deal went South or they decide not to air your product or service, your basically S.O.L.
E-Mail Submission To The "Shark Tank"

Applying to get on the Shark Tank is a rather easy process. However, how we'll you plan your first audition for the Shark Tank producer's will greatly increase your chances of getting on the show. Shark Tank's email address is SharkTankCasting@yahoo.com You will need to include your name, age, a photo of yourself, your contact information and a brief non-confidential description of your business product or service. At this point it's not really want you value your business idea at but more on how innovative your product is. Does your idea appeal to the masses? Whats the price point and how much is the net income? Past sales? It's amazing how many people go on to the Shark Tank with very little sales (if any) and give their business idea an over inflated market value. This only gives the Sharks a bad taste right from the get go. If it's a great idea but few sales to back it up, expect to get an offer from the Sharks where they want a large percentage of the business.
Thing's You Need To Consider If The Shark Tank Is A Good Fit For Your Business

- Did you know if you make a deal with the Sharks you are also obligated "under contract" to give the producers of the show either an additional 5% stake in your business or a 2% royalty fee for the life of the company. You must keep this in mind when you are negotiating what the Sharks are asking for. If the Sharks are asking for 44 1/2% of your business (or greater) and you agree, you just gave up controlling interest in your company if the Sharks and producers combine their shares in your business.

- I Made a deal with the Sharks. How long does it take to actually get the money? If you happened to try and read the two dozen page contract you signed to get on the show, you will see they have covered all the bases. The Sharks have a full 90 days to do their due diligence to verify everything you said about your business/idea. If you said you have an exclusive patent of a particular product, you can bet they will have a team of experts verifying this. Same goes with sales, marketing and even your bank statements. Anything that doesn't add up gives the Sharks the legal right to back out of the deal or opens it back up for further negotiations.

-I got on the Shark Tank. I'm so excited I want to tell my Friends what kind of deal I made with the Sharks. Just like all reality shows you are obligated to keep your quiet until it airs on T.V. How do they make sure you don't talk to anyone? Not even your spouse? In that contract you agreed that you will not talk or will be subject to a $5 Million Dollar Fine.

- I wasn't able to strike a deal with the Sharks during the show but was approached later with another offer. Can I still make a deal with one of the Sharks after the show?
Yes. But you are still under obligation to give the Shark Tank Show a piece of the company/product for a full year after it airs on ABC.

-You hear from the producers that you got a spot on an upcoming show. You spend countless hours rehearsing your sales pitch to the Sharks. The producers ask you to send in a video of your sales pitch which you gladly do. Weeks go by as the anticipation builds. They finally give you a film date when they will be shooting the episode featuring your company. Now your really excited and that's all you can even think about. The dates getting really close when you get another phone call from the producers.
They just moved you back to a later episode in the season. It won't be for another two months before the filming. You have no choice but to bite your tongue and keep your anxiety in check. You keep working harder on your sales pitch trying to convince yourself that this will all pay off in the end for all the hoops that the Shark Tank producers are putting you through. Your date with destiny is almost here. You finally get another call from the producers expecting them to tell you to pack your bags.
Instead they tell you they now have too many slots for that production and you were eliminated from going on the show. OUCH- talk about a financial roller coaster that went flying off the tracks. You MUST BE willing to go through all of this and still not end up on the Shark Tank.

This is actually a true story. Really one that everyone that wants to Get on the Shark Tank needs to read. If your not ready for this type of rejection after being lead on for so long it could very we'll destroy your entrepreneurial spirit.

Fortunately for Jack Scalfani of TheBestSauces.com is no quitter. He may of not made it on the Sharktank (yet) but this is One Contestant I Will Always Remember for how close you can go and still not get on the show. Even if Jack never gets on the Shark Tank Show he has such a unique product that would do very we'll if he used a CrowdFunding Website to get fans around the world.

Re: "Shark Tank"

Postby inventor-x » Wed Apr 10, 2013 1:14 pm

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http://www.scottevest.com/company/shark_tank.shtml
How I Got on Shark Tank and What Happened After - SCOTTeVEST

My Appearance on Shark Tank: All the Dirt
There are two sides to every story. If you just watched the episode as it aired on ABC, you may have thought I was an arrogant jerk just looking for free publicity... or hopefully you thought I was a brilliant businessman who just would not let the Sharks push me around. Well, this page contains the whole truth. To understand what really happened, please read the following 4 points.

1. First of all, I absolutely did enter the Tank looking to strike a deal with the Sharks. It was not for the "free" publicity, which is anything but free. Not only did it take dozens of hours of preparation, but there is a secret clause to appearing on Shark Tank. It actually appears in fine print at the end of every episode. As quoted at the end of the show (in extremely small print and only for a second):

“Sony Pictures Television, a Designee of Mark Burnett, and ABC may receive equity in or a share of revenues generated by the businesses included in this program.

” Specifically, buried deep in the agreement by merely appearing on the show, whether a deal is made or not, I have to give 5% of my "business" or 2% of the profits forever to the producers. So, my appearance was not free. Since the business I was presenting was TEC-Technology Enabled Clothing®, I now have partners in that business, even though a deal was not made with The Sharks. Free? They make money out of every deal I make from here forward.

2. I believe that The Sharks were intentionally 'baiting' me the entire time I was being filmed. Because of the contract I signed, just one mention of the brand SCOTTEVEST, and I would be forced to give the sharks 5% equity or 2% of the profits of SCOTTEVEST. I went into the Tank pitching TEC, and I had to carefully tiptoe around the brand name that I spent years successfully building. If I slipped once and either mentioned SCOTTEVEST or countered their offer for SCOTTEVEST, part of SCOTTEVEST would be theirs automatically forever. Given the value of SCOTTEVEST, I could not risk it, especially that it appeared likely that The Sharks would not likely agree on a fair valuation for SCOTTEVEST. Imagine how hard it is to talk about your job without mentioning the name of the company. If I had, it would have cost me millions and for no good reason.

3. It was blatantly stated by Mark Cuban that his only goal was to make me cry on air, and I am not one to back down from a challenge. (He didn't make me cry by the way... not even close.) Imagine how you might have done in a similar situation knowing that Mark Cuban's goal was to make you cry on national TV. I think I gave it a pretty good shot, though unsuccessful.

4. I walked away from a deal with The Sharks when it became apparent that they were only interested in SCOTTEVEST. As I went to shake hands with them, all of The Sharks, other than Robert Herjavec, told me what an amazing job I did, including Mark Cuban. Robert Herjavec, however, refused to shake my hand, which has NEVER happened to me after all my years as a professional. When I told him as much, I turned and walked away. That is when you hear him telling me to "show some respect" as I was walking out the door. Doesn't ring true telling me to show respect when he refused to shake my hand after the other Sharks did so graciously.

I still firmly believe in the value of patents and the value of TEC. With all this background to the story, combined with my incredible passion for my companies, you can see why things got heated in the Shark Tank. Just remember, there are ALWAYS two sides to every story and you can see the full story below, step by step, if you are interested in diving deeper into the Shark Tank.
________________________________________
Rehearsal Time
These are just a few of the many rehearsals caught on video.
See how Scott progresses, and check out how nervous he is
in the hotel before the filming!

One of the early takes, for internal use.
Final take of the Shark Tank audition.
Scott practicing in the hotel before he goes in. Here's "Take 1000"
How nervous is he?

Foreplay
Thinking about taking your turn in the tank? Simply curious about reality TV? Maybe you just need the whole scoop on the TEC/Shark Tank story? This is a brief account about what the months leading up to the airing entailed...

It was the summer of 2011. SCOTTEVEST was up and running - the company was growing steadily, adding employees and products regularly. Scott felt like it was time to pursue TEC, the licensing subsidiary of SCOTTEVEST, which had been his original dream over a decade ago. He happened to already love the show Shark Tank on ABC, so the team here in Ketchum starting pursuing this as an opportunity to grow TEC - to grow the name, the business, and to license TEC to most major apparel brands.

Everything begins with...Paperwork
After the initial email application/introduction, we started with a mountain of paperwork that we submitted in early June. That was only the beginning…Scott had a phone interview with a producer from the show, who asked him about himself, about what experiences have shaped him, and about where the idea for the product originally came from. We found out that Scott was a semifinalist in mid-June, and the second round of forms were due in July. That's when the practicing began.

Practice Makes Perfect
Scott worked with our team here as well as his "assigned" producer for the show on his pitch for TEC. We live-streamed rehearsals with him and filmed several versions - check out the versions embedded to the left. Filming was originally supposed to take place in July (in Los Angeles) but was postponed until September…more practicing. Scott went over and over the pitch, practicing loading and unloading the vest (which they didn't show in the final cut). The filming was intense. It was incredibly warm and nerve-racking - Scott talks about it quite a bit in the green-screen interview, he was afraid he was a sweaty mess.

The Waiting Game
And after filming…more waiting. Months followed in which Scott relived the filming over and over and over in his head. He couldn't tell anyone about what happened in the tank. And secrecy is not a forte for Scott Jordan. He did alright, though. Months went by and we still didn't really know what we should expect to see. Well, we all know Scott, so we knew it would be a little outrageous...

The Email that Started it All...
Interested in seeing how Scott "sold himself"? Click right to read the original email application that Scott sent to our contact at ABC (whom we connected with through a PR person we sometimes work with). This application, like the rehearsals, went through many interations...draft after draft, and this was the final result:
________________________________________
In the Tank
We didn't know if Scott's episode would air until the winter. We didn't know that actual air date until two weeks before. On the one hand, we're more used to doing things "off the cuff" at SCOTTEVEST. Our whole print catalog, for example, was photographed in a couple hours and layed out in mere weeks. There were a good number of lofty plans in the air - big schemes for how we would prepare for the episode and how we would react when it aired. Scott was the only one who knew the outcome, and none of us knew what the edit would be like. When we heard the air date (March 2), we had to decide pretty quickly what would be realistic and what would probably not happen. They were a hectic two weeks.

Anticipation...
Customer Service prepared for what might be a busy night and a busy weekend. Most of the team was scheduled through the weekend, and we had backup ready in case they were swamped. The marketing team focused on getting the website ready and on making sure people could find us when they went looking online. We anticipated having some press calls to deal with in the following days. We were all ready for some kind of chaos. On the night of the show, the marketing team went to the Jordan's to watch the episode on New York time. As nervous as he was in the filming process, Scott was equally nervous the night of the show. Watch him watch the episode below.

The Night of the Show!
The site did go down temporarily due to traffic…although we had been promised that we wouldn't have an issue. We didn't get nearly the order volume we had hoped for. Something like 30 orders came in that night, and they continued to trickle through the weekend. We had a large team in the office nonetheless, monitoring the site, answering calls, and preparing for post-tv press. We had a pizza party!
In the following videos, get a sense for how Scott feels the day of the airing (left) and watch Scott watch Scott on TV (so meta, right?)...
________________________________________
Aftermath
While Scott's appearance on Shark Tank didn't do much for sales, it did generate quite a bit of buzz. Some people lauded Scott for standing up to the Sharks and for keeping his head on his shoulders. Others scorned him, saying that it was all a publicity stunt, that he was disrespectful, and that he was a "patent troll." Several major blogs reported on Scott's performance, including TechCrunch, GearDiary, and the "official" Shark Tank blog. All of this chatter made Scott want to tell his side of the story - to set the record straight, if you will. The end result: his official statement, seen below:

Why I Walked Away from $1 Million on Shark Tank
On Friday, March 2, I appeared on ABC’s reality show Shark Tank. The premise of the show is as follows: an entrepreneur enters “the tank” with an idea and an offer. He or she pitches the product or business, and the sharks decide whether or not they want to invest – the two parties either reach an agreement, or the entrepreneurs leave with nothing but some good exposure and a memorable experience.

Since the show aired on Friday, I have received overwhelming feedback from all over the board. The criticisms of those who took issue with the appearance fall into a few distinct categories. There are those who feel I used the platform merely for PR purposes – that I was never interested in a deal, but rather that I took advantage of the exposure. I am also receiving criticisms in regard to my demeanor – that I was disrespectful, aggressive, and less-than-cordial in my interactions with the sharks (although usually expressed in more colorful terms).

My response is as follows: I entered the tank in hopes of gaining a strategic business partner who would help me establish my licensing company, TEC-Technology Enabled Clothing®, in a way that I have as yet been unable to do. The exposure inherent in an appearance on national television is something no entrepreneur would ignore. It was only after it became apparent that none of the sharks were interested in making a deal for TEC® that I decided to focus on the PR value of the experience.

I knew that although I did not get a deal with one of the sharks, there would still be an opportunity to expose the world to TEC® and to SCOTTEVEST, and I was not about to let that opportunity slip by. That said, there was no “free” publicity. As quoted at the end of the show: “Sony Pictures Television, a Designee of Mark Burnett, and ABC may receive equity in or a share of revenues generated by the businesses included in this program.” I went in pitching TEC®. If I made a deal for SCOTTEVEST (or even mentioned the name), this company would also be subject to this agreement. Far from free publicity. Those who know me know that I am transparent to a fault; I cannot lie and I cannot act. What you saw was the real deal.

Publicity issue aside, I feel that the segment the public saw on Friday needs some context; there was a lot the public did not see from the interaction. The 60 minutes that I was in the tank was edited down to around 20. ABC, in the end, is trying to make good TV, and no one can blame them for doing that job well (which begs the question, wasn’t this a publicity stunt for them?). Granted, that is not the whole story, and to blame editing entirely would be a cop-out. What you saw were my honest reactions in the midst of a heated debate. I really did call Robert’s initial offer insane, and I did tell Robert and Kevin they were out. I argued fiercely with Mark Cuban about intellectual property rights (he later indicated in a podcast that he made it his mission to make me cry), about standing by my patent and about the essential “American-ness” of the patent system.

But let’s put this in perspective. How many times have you seen entrepreneurs – people who are really starting out, who have a great idea and need guidance and money – flounder into the tank and get taken advantage of? The difference between my segment and most others is that I am a businessman and that I was willing and able to engage the sharks in a serious business interaction. I most definitely wanted to strike a deal with one or more of them, to get TEC® off the ground as a licensing company with much more to offer than a single patent for a wire management system. But I was not about to turn wobbly kneed, forget why I was there, and sell away part of the company that my wife and I have put our hearts and souls into for over ten years.

Every time I watch the episode (which is not as many times as some people would like to believe), I see something else – I remember what happened to induce a reaction, or I think about what one of the sharks said that set me off. I see the moments in which I appear arrogant, and knowing myself, I see what I really was: cornered. A good friend of mine wrote after he watched the show: “[you] come across as a guy who just loves his company and product…” I am a guy who loves his company and his product, and in those moments, I was a guy who saw that company threatened. Those sharks are persuasive personalities, and they are powerful people. From a businessman’s perspective, these are the people we look up to. The pressures add up – the intimidation factor, the thrill of being in the company of the sharks –but as the sharks and the rest of America learned, it would not be bullied into taking a bad deal.

To recap: I entered the tank with a deal that I thought was reasonable. I would like to mention that over the course of the weekend I have had interest in TEC® alone, which confirms that this was a realistic pitch. The sharks wanted something else, however. What ensued was an aggressive negotiation between equals, and we ended up not making a deal – it is that simple. No one on that panel is involved in the future of TEC® or SCOTTEVEST, but I am confident that the future is bright for both. I want to thank my friends and followers for their support via Twitter, Facebook, and blogging; SCOTTEVEST was built on transparency and through direct relationships with customers. I want to emphasize that this is not “just TV” at this point. The issues that arose during the filming – about protecting intellectual property, about the value of my licensing subsidiary, and about what it means to negotiate in business – are very serious to me. Expect these debates to continue.
Scott Jordan
CEO and Co-Founder
of TEC® and SCOTTEVEST, Inc.

Re: "Shark Tank"

Postby coolmax » Wed Jun 12, 2013 1:59 pm

coolmax
Yellow Belt
 
Posts: 79
Joined: Tue Oct 24, 2006 8:04 pm
I went to the ABC - Shark Tank LA auditions & I just happened to be sitting next to Mark Martinez - Inventor of the Sackmaster2000 American Inventor season (1) in 2006

The reason Mark Martinez did not (WIN) American Inventor in 2006 is because Mark Martinez would not let the producers of the show change the product so that they could claim the product for their own & cut Mark Martinez out of any future royalties

I really hope Mark Martinez gets a spot on Shark Tank - Sackmaster2000 - Mark Martinez

If you read the Shark Tank application & sent/mailed in an application to the Shark Tank before auditioning you still needed to have a copy of the application when you auditioned

The producers of Shark Tank said that they are overwhelmed with e-mails & not to send any because they do not have the time to respond to any of them

After handing in your paperwork you had up to a few minutes to pitch your idea/product to the want-a-be producers (NOT the Sharks) & if they liked your product they said they would give you a call to make a video to send to them so they know how you & your product look on video/camera & then they said they would call you for the producers to film you for an audition

It is NOT about your idea/product or the money that ABC & the Sharks or you could potentially make - It is about how you look on TELEVISION, NOT the money

Shark Tank must of scared people away from auditioning when they said that they would ONLY view the first 500 applications along with giving a short period of notice for the audition dates - NOT even 500 people showed up to audition in LA

If you have an idea without (ANY) product then you will most likely not get picked for an audition because the want-a-be producers have NO vision to understand ideas

Why ABC & the Shark Tank would not want the application posted on the internet does not make sense when it its (NOT) a binding contract until you actually make a deal & sign a real binding contract with specific terms regarding that personal contract deal when each & every contract deal is specific to that contract deal with specific terms?

Please do not delete this post - I am not worried if ABC or the Shark Tank want to take legal action against me for posting the want-a-be legal binding contract that is generic in nature for a legal binding contract & is not specific in nature to the terms of a specific binding contract with terms to that specific binding contract

“SHARK TANK” APPLICATION PACKET
General Instructions:
Thank you for your interest in applying to participate in “Shark Tank” (the “Series”). In order to apply and participate in an Open Call, you must fully complete and return the following attached documents with you to an Open Call:
1. Applicant Questionnaire
2. Audition Release
3. Submitted Materials Release
4. Acknowledgement of Further Agreements
If you are applying as part of a team of collaborators, each collaborator must complete and submit his/her own
Application Packet; however, collaborators may appear together in a single audition video.
Please note: In order to fully complete the application process for the Series, you must complete and return the following documents, which will be provided by Finnmax LLC:
1. Business Details Questionnaire
2. Intellectual Property Questionnaire
3. Background Questionnaire
4. Applicant Release
All application materials become property of Finnmax LLC and will not be returned. If you would like to retain a copy, please make one prior to sending in your materials. Good luck!
Please be advised that you must meet the following eligibility requirements (which may be changed at any time by Finnmax LLC in its sole discretion) in order to participate in the Series:
You must be 18 years of age (or the age of majority in the state in which you reside) or older.
You must be a legal resident of the United States.
Neither you nor any of your immediate family members or anyone living in your household may be nor have been within the past two (2) years employees, contractors, officers, directors or agents of any of the following:
(a) Finnmax LLC, One Three Television, LLC, any entity owned, controlled or affiliated with Mark Burnett, Sony Pictures Television Inc., American Broadcasting Companies, Inc., or any parent, subsidiary, affiliated or related entity of any of the foregoing; (b) any person or entity involved in the development, production, distribution or other exploitation of the Series or any variation thereof; (c) any known major sponsor of the Series or its advertising agency; (d) any shark or any entity substantially owned or controlled by any shark; or (e) any person or entity supplying services or prizes to the Series.
You may not be a candidate for public office and must agree not to become a candidate for public office from the date of the Audition Release until one (1) year after the initial broadcast of the last episode of the Series in which you appear.
You may not have been convicted of a felony.
You must voluntarily submit to a background check.
APPLICANT QUESTIONNAIRE
Applicant Name: _______________________________________________________________
Business Name: _______________________________________________________________
If applying as part of a group, the name(s) of your collaborator(s): ______________________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________________
Your Street Address: _______________________________________________________________
City/State/Zip _______________________________________________________________
Phone #s: home: _______________________________________________________________
cell: _______________________________________________________________
work: _______________________________________________________________
fax: _______________________________________________________________
E-mail: _______________________________________________________________
Birth date: _______________________________________________________________
I am a legal resident of _______________________________________________________________
Gender: M F Where did you grow up? _______________________________________________________________
Occupation/Place of Employment: _______________________________________________________________
School(s) Attended & Degree(s) Completed (include year(s)): ______________________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________________
Describe in DETAIL what your business or product is. What does it do? Provide as much detail as possible. ______________________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________________
_______________________________________________________________
What investment amount are you seeking, and what percentage of equity are you willing to give in exchange? Please keep in mind that the sharks do not give their money away; they only make realistic investments. They will ask tough questions to justify the amount of money you are seeking. ______________________________________________________________________________________________________________________________
_______________________________________________________________
What do you intend to do with the investment funds? Where will the money go?
______________________________________________________________________________________________________________________________
______________________________________________________________________________________________________________________________
Have you ever tried to raise money from outside sources? YES / NO (circle one). If YES, provide details.
______________________________________________________________________________________________________________________________
_______________________________________________________________
What attempts have you made to build your business? Have you been successful?
______________________________________________________________________________________________________________________________
_______________________________________________________________
Why do you want to pitch your business?
______________________________________________________________________________________________________________________________
_______________________________________________________________
What is your unique selling proposition? What is your “hook,” and why is your business notable?
______________________________________________________________________________________________________________________________
_______________________________________________________________
Describe the circumstances surrounding how you conceived and developed your business.
______________________________________________________________________________________________________________________________
_______________________________________________________________
List any organizations or clubs with which you’re associated.
______________________________________________________________________________________________________________________________
_______________________________________________________________
List any awards or accolades you’ve received. ______________________________________________________________________________________________________________________________
_______________________________________________________________
Describe your biggest accomplishment. ______________________________________________________________________________________________________________________________
_______________________________________________________________
Describe your most disappointing moment.
_____________________________________________________________________________________________________________________________________________________________________________________________
How did you hear about “Shark Tank”? _____________________________________________________________________________________________________________________________________________________________________________________________
Have you applied for “Shark Tank” before? Provide details. _____________________________________________________________________________________________________________________________________________________________________________________________
Have you previously pitched or discussed your business or product to any of the sharks? Provide details. _____________________________________________________________________________________________________________________________ _____________________________________________________________
AUDITION RELEASE
PLEASE READ, SIGN AND DATE the following.
In consideration for my possible appearance in the reality-based competition television series currently entitled “Shark Tank” (“Series”) and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, I (including any entity set forth below) hereby agree as follows (“Agreement”):
1. Eligibility Requirements. I hereby represent and warrant that: (i) I am 18 years of age (or the age of majority in the state in which I reside) or older; (ii) I am a legal resident of the United States; (iii) neither I nor any of my immediate family members or anyone living in my household may be or has been within the past two (2) years employees, contractors, officers, directors or agents of any of the following: (a) Finnmax LLC (“Producer”), One Three Television, LLC (“OTT”), any entity owned, controlled or affiliated with Mark Burnett, Sony Pictures Television Inc. (“SPT”), American Broadcasting Companies, Inc. (“ABC”), or any parent, subsidiary, affiliated or related entity of any of the foregoing, (b) any person or entity involved in the development, production, distribution or other exploitation of the Series or any variation thereof, (c) any known major sponsor of the Series or its advertising agency or (d) any person or entity supplying services or prizes to the Series; (iv) I am not currently a candidate for public office and agree that I will not become a candidate for public office from the date of this Agreement until one (1) year after the initial broadcast of the last episode of the Series in which I appear; (v) I have not been convicted of a felony; and (vi) I shall voluntarily submit to a background check if requested by Producer. I acknowledge that Producer reserves the right at any time to render ineligible any person who Producer determines, in its sole discretion, is sufficiently connected with the production, administration, or distribution of the Series such that his or her participation in the Series could create the appearance of impropriety. I further understand and agree that Producer reserves the right to change any of the eligibility requirements at any time.
2. Grant of Rights. In consideration for my possible appearance in the Series and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, I (including any entity set forth below) hereby grant Producer and each of its respective employees, contractors, agents, representatives, officers, directors, assignees (including, without limitation, SPT), designees, licensees (including, without limitation, ABC and any television network and television stations which exhibit the Series or which has the right to exhibit the Series (collectively “Network”)) and affiliated and related entities the following:
a. The absolute and irrevocable right and permission (but not the obligation) to interview me, audition me, photograph, film, tape and otherwise visually, audiovisually and/or by audio means record me and/or my voice (“Likeness”) by any method whatsoever in and in connection with the Series and the business activities of Producer and Network.
b. The absolute and irrevocable right and permission (but not the obligation) to photograph, film, tape and otherwise visually, audiovisually and/or by audio means record any idea, product, invention, service or business owned or controlled by me, including without limitation any names, logos, artwork, packaging, trademarks and service marks related thereto, (collectively “Business Indicia”) by any method whatsoever in and in connection with the Series and the business activities of Producer, SPT and Network.
c. All rights of every kind and character whatsoever, whether now known or hereafter devised, in perpetuity throughout the universe in and to (i) any and all footage, tapes and/or other recordings taped, filmed, photographed, recorded and/or otherwise produced hereunder depicting me and any performances or actions made by me, (ii) material supplied by me (whether scripted or unscripted, written, spoken, sung, or otherwise uttered or expressed by me) and information given by me and/or captured on any such footage, tapes, and/or recordings (“Statements”), and (iii) all of the results and proceeds thereof (collectively, (i), (ii) and (iii) shall be referred to as the “Material”). I acknowledge that the Material is specially ordered by Producer for use as part of an audiovisual work and shall be considered a work made for hire for Producer, and therefore Producer shall be the author and copyright owner thereof for all purposes throughout the universe in perpetuity. To the extent that such Material is not deemed a work-for-hire in any jurisdiction, I irrevocably assign, transfer and convey such Material to Producer including, without limitation, all copyrights, renewals, and extensions of copyrights therein, in all media now known or hereafter devised, throughout the universe in perpetuity. For the avoidance of doubt, the Material shall include neither the Business Indicia nor any other intellectual property relating to my business.
d. The irrevocable right to reproduce, edit, dub, subtract from, add to, modify or juxtapose the Likeness, Business Indicia, Statements and/or Material in any manner and to combine them with any other material. I understand, acknowledge and agree that Producer shall have no obligation to use any of the Likeness, Business Indicia, Statements and/or Material in or in connection with the Series.
e. The irrevocable, perpetual, nonexclusive right to use, copy, digitize, sublicense, transmit, distribute, publicly perform, publish, display, and make any other uses of the Likeness, Business Indicia, Statements, whether or not embodied in the Material, in any media now known or hereafter devised, throughout the universe, in and in connection with the Series, including without limitation the advertising, promotion, marketing or exploitation of the Series (including without limitation commercial tie-ins and the exploitation of any allied, ancillary and subsidiary rights in and to the Series), and the business activities of Producer, SPT and Network.
f. I understand, acknowledge and agree that Producer may exercise any aspect of the foregoing granted rights without review by, compensation to, or approval by me or any other party, except as prohibited by law.
g. I grant the rights hereunder whether or not I am selected to participate as a contestant in the Series in any manner whatsoever. Without limiting paragraph 4 below, I release Releasees (as that term is defined herein below) from any and all liability arising out of its use of the Likeness, Business Indicia, Statements and/or the Material, and I agree not to make any claim against Releasees as a result of the recording or use of the Likeness, Business Indicia, Statements and/or the Materials (including, without limitation, any claim that such use invades any right of privacy and/or publicity and/or any claims based on defamation, libel and/or false light and/or copyright, trademark or patent infringement).
3. Representations and Warranties. I hereby represent and warrant that: (i) I, alone or in concert with any collaborators listed below (collectively “Collaborators”), have the right to grant the rights granted hereunder; (ii) I, alone or in concert with any Collaborators, have the right to enter into this Agreement; (iii) I, alone or in concert with any Collaborators, own and control all rights in and to the idea, product, invention, service or business that I desire to present as part of my participation in the Series; (iv) the consent of no other person, firm, corporation or labor organization (other than any Collaborators) is required to make my desired presentation or to enable Producer to use the Likeness, Business Indicia, Statements and the Material as described herein; (v) Producer’s use of the Material, Business Indicia, Statements and Likeness hereunder will not violate the rights of any third party other than any Collaborators; (vi) Producer shall have the right to use the Material free and clear of any claims for royalties, residuals or other compensation, either by virtue of this Agreement or any guild or union agreement, which I acknowledge does not govern my relationship with Producer; (vii) I have answered all questionnaire and application questions completely, honestly and accurately, and I acknowledge that if any of the foregoing information is found to be false, that this will be grounds for my dismissal from the Series participant selection process and/or from the Series, if selected; and (viii) I understand and agree that all decisions by the Producer concerning the selection of the participants are final and not subject to challenge or appeal.
4. Confidentiality. Without the express prior written consent of Producer, I shall not at any time, reveal, report, publish or disclose any information or trade secrets obtained or learned by me about the Series, including, without limitation, any information concerning or relating to the Series, the participants, the events contained in the Series, any ideas, products, inventions, services or businesses presented by any participant in connection with the Series or the outcome of the Series or any episode or presentation associated therewith (collectively, “Confidential Information”). This confidentiality obligation shall remain in place whether or not I am selected to participate in the Series, and shall continue both during and after my participation in the participant selection and, if I am selected as a participant, my participation in the Series, and shall continue regardless of whether or not an episode of the Series has been broadcast which may include some or all of the Confidential Information. I further agree that any Confidential Information of which I become aware will only be used for the express and exclusive purposes for which Producer has instructed me to use the Confidential Information.
5. General Release. To the maximum extent permitted by law, I, my heirs, next of kin, spouse, guardians, legal representatives, executors, administrators, successors and assigns (collectively “Releasing Parties”) hereby irrevocably and unconditionally release and covenant not to sue Producer, OTT, SPT, ABC, their respective parent, subsidiary, affiliated and related entities, their successors, licensees, assigns, and their respective directors, officers, shareholders, members, employees, agents and representatives (collectively “Releasees”) from any and all claims, actions, damages, liabilities, losses, costs and expenses of any kind (including, without limitation, attorneys’ fees) (collectively “Claims”) arising out of, resulting from, or by reason of my application for and/or participation in or in connection with the Series, including, without limitation, any travel I undertake in connection with my participation in the Series, any exploitation, distribution, exhibition, advertising and/or promotion of the Series or my appearance on the Series, any disclosure of my idea, product, invention, service or business, the failure of the Producer to select me as a participant, the cancellation of the Series, the negotiation, entry into or breach of any agreement between any venture capitalist “shark” and me (whether during or after the production of the Series and whether or not such negotiation culminates in a binding agreement), or the exercise by Producer or anyone else of any rights granted by me under this Agreement, on any legal theory whatsoever (including without limitation personal injury, property damage, violation of privacy and publicity rights, false light, defamation, intentional or negligent infliction of emotional distress, products liability, breach of express or implied contract, breach of any statutory or other duty of care owed under applicable laws, infringement of copyright, trademark or patent, loss, limitation or reduction of any intellectual property rights and loss of earnings or potential earnings).
6. Limitation of Remedies. Without limiting any provision of this Agreement, my remedies for any breach of this Agreement by Producer or others will be limited to an action at law for damages (if any), and in no event will I be entitled to rescind this agreement or seek injunctive or any other equitable relief (including without limitation through any arbitration proceeding) in connection therewith.
Initial Here: _______________
7. Release of Unknown Claims. I acknowledge that there is a possibility that after my execution of this Agreement, I may discover facts or incur or suffer claims which were unknown or unsuspected at the time this Agreement was executed and which, if known by me at that time, may have materially affected my decision to execute this Agreement. I acknowledge and agree that by reason of this Agreement, and the release of liability contained herein, I am assuming any risk of such unknown facts and such unknown and unsuspected claims. I have been advised of the existence of Section 1542 of the California Civil Code which provides:
A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE WHICH, IF KNOWN BY HIM OR HER, MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.
Notwithstanding Section 1542 of the California Civil Code, this Agreement shall constitute a full release of liability in accordance with its terms. I and the Releasing Parties knowingly and voluntarily waive the provisions of Section 1542, as well as any other statute, law or rule of similar effect, and acknowledge and agree that this waiver is an essential and material term of this Agreement and that without such waiver, Producer would not have accepted this Agreement or my application.
8. Indemnity. I, individually and on behalf of the Releasing Parties, agree to defend (at indemnitees’ option), indemnify and hold harmless the Releasees from any and all Claims caused by or arising out of my application for and/or participation in and in connection with the Series, including, without limitation, any of the following: (i) any statement, action or omission made or taken by me or anyone else during or in connection with or relating to the Series; (ii) my failure to follow the instructions of Producer, Network, any of their officers, agents, representatives or employees, or anyone connected with the Series; (iii) my breach of any of my representations, warranties, undertakings, promises or obligations pursuant to this Agreement or the Series Rules (as may be promulgated and amended from time to time); (iv) my possession or use of any prize or investment; or (v) the use by Producer or Network or any of their respective licensees or assigns of any of the rights I have granted herein.
9. Governing Law. This Agreement shall be deemed to be entered into in Los Angeles County, California, and shall be governed by and interpreted in accordance with the laws of the State of California applicable to agreements executed and fully carried out within California (but not its conflict of laws principles).
10. Dispute Resolution/Binding Arbitration. Both Producer, on behalf of itself, SPT and Network, and I acknowledge, understand and agree that any action, proceeding or litigation concerning this Agreement or my appearance or participation in the Series may only be brought in Los Angeles County, California, and that, subject to the arbitration proceeding below, the courts of Los Angeles County, California, shall have exclusive jurisdiction over me and the subject matter of any such proceeding. The parties agree that any and all disputes, controversies or claims arising under or relating to this Agreement or any of its terms, including without limitation the applicability of this arbitration provision, any effort by any party to enforce, interpret, construe, rescind, terminate or annul this Agreement, or any provision thereof, and any and all disputes or controversies arising under or relating to my possible appearance or participation in the Series that are not otherwise barred or released pursuant to the terms of this Agreement (collectively, “Matters”), and cannot be resolved through direct discussions, the parties agree to endeavor first to resolve by mediation conducted in the County of Los Angeles by JAMS or its successor (“JAMS”). If any Matter is not resolved, as set forth above, the parties then agree that it shall be resolved by binding arbitration conducted in accordance with the Streamlined Arbitration Rules and Procedures of JAMS through its Los Angeles, California office, in accordance with California law. Any such arbitration shall be conducted by a single, neutral arbitrator, who shall also be a retired judge of a state or federal court, experienced in entertainment disputes, and selected from the JAMS’ panel of arbitrators proffered by its Los Angeles, California office. If the parties cannot agree upon an arbitrator after good faith discussion, the arbitrator shall be chosen by JAMS pursuant to the requirements of this paragraph. The parties agree that the arbitrator’s ruling in the arbitration shall be final and binding and not subject to appeal or challenge. The parties further agree that the arbitration proceedings, testimony, discovery and documents filed in the course of such proceedings, including the fact that the arbitration is being conducted, must be treated as confidential and must not be disclosed to any third party to such proceedings, except the arbitrator(s) and their staff, the parties’ attorneys and their staff, and any experts retained by the parties; provided that such arbitrator(s) and their staff, the JAMS and its staff, the parties’ attorneys and their staff, and any experts retained by the parties. The Federal Arbitration Act (9 U.S.C. § 1, et seq.) or its successor statute shall apply and govern the enforcement of this arbitration clause. By agreeing to arbitration, the parties acknowledge that they have waived the right to a jury trial. I further acknowledge and agree that the business realities of television productions of this nature, including the Series, create special circumstances for which Producer must be able to maintain its ability to seek injunctive relief and/or other equitable and/or provisional remedies. Accordingly, the parties agree that nothing in this paragraph or in any of the applicable rules of JAMS, shall prevent Producer, SPT or Network from seeking provisional relief outside of arbitration. For example, a participant’s premature or threatened disclosure in violation of the confidentiality provisions of this Agreement could result in a reduction of audience interest or other diminution in the value of the Series or Producer’s, SPT’s or Network’s rights hereunder, which would cause Producer, SPT and Network irreparable injury and damage that could not be reasonably calculated or adequately compensated by damages in an action at law. I hereby expressly agree that Producer, SPT and Network shall be entitled to injunctive and other equitable relief pursuant to California Code of Procedure section 1281.8 and any successor or similar statute.
11. Severability, Assignment. Without limiting the foregoing, any provision of this Agreement that is invalid, illegal, or unenforceable in any jurisdiction will, as to that jurisdiction, be ineffective only to the extent of such invalidity, illegality or unenforceability, without affecting in any way the remaining provisions hereof in such jurisdiction or rendering that or any other provision of this Agreement invalid, illegal or unenforceable in any other jurisdiction. Producer (and its assignees and licensees) may freely assign, in whole or in part, any of their rights or obligations under this Agreement. I may not assign any of my rights or obligations under this Agreement.
12. Entire Agreement. In signing this Agreement, I have not relied on any representations or other statements that are not contained herein. No promises have been made to me other than as expressly set forth herein. This Agreement shall supersede and replace all prior and contemporaneous oral, written and electronic communications, understandings and agreements between Producer and me relating to the subject matter hereof. This Agreement sets forth the entire agreement between Producer and me with respect to the subject matter hereof and may not be altered or amended except by a writing signed by both parties.
13. Modification or Amendment. This Agreement cannot be changed, amended, modified or terminated except in writing signed by Producer and me.
14. Waiver. Any waiver of any term of this Agreement in a particular instance shall not be a waiver of such term for the future. I agree that the invalidity or unenforceability of any part of this Agreement shall in no way affect the validity or enforceability of any other part thereof.
I declare under penalty of perjury that all statements made by me in this Agreement are true. The name given below is my legal name. Any other name(s) or alias(es) used by me within the past seven years are also noted below. I have been given ample opportunity to read, and have carefully read, this entire Agreement. I represent and warrant that I have had the opportunity to consult with my own legal counsel prior to signing, and I have either so consulted with my own counsel or, in the alternative, I have voluntarily and on my own accord declined such opportunity. By signing below, I am voluntarily and knowingly agreeing to the terms and conditions of this Agreement.
Dated: _______________________________________________________________
Participant Name: _______________________________________________________________
Entity Name (LLC, Inc.): _______________________________________________________________
Signature: _______________________________________________________________
Signature: _______________________________________________________________
Date of Birth: _______________________________________________________________
Title: _______________________________________________________________
Aliases (if any): _______________________________________________________________
Collaborator Names and Addresses (if any):
____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
REMINDER: BE SURE TO INITIAL PARAGRAPH 6.
SUBMITTED MATERIALS RELEASE

Today’s Date: _______________________________________________________________
Finnmax LLC (“Producer”)
3000 Olympic Blvd.
Santa Monica, California 90404
Attn: Shark Tank
Ladies & Gentlemen:
I (which term shall include any entity or collaborators set forth below) would like to be considered as a participant on the reality-based competition television series currently entitled “Shark Tank” (“Series”). Accordingly, I desire to submit material, including without limitation video, photographs, jingles, information contained in my Applicant Questionnaire, any names, logos, artwork, packaging, trademarks and service marks related to the business I may present as part of my potential participation in the Series (collectively “Business Indicia”) and any other material that I provide or may provide in connection with the Series (all of the foregoing herein called “Submitted Material”), owned and/or controlled by me so as to offer Producer the opportunity to decide whether Producer wants to consider me to be a participant (“Participant”) on the Series, and with respect to Producer’s possible use of the Submitted Material in the television, entertainment and advertising fields.
I acknowledge and agree that, but for my agreement to the terms set forth herein, Producer would not agree to accept for consideration or review the Submitted Material. Accordingly, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, I hereby acknowledge and agree to the following (“Agreement”):
1. I acknowledge and agree that, if Producer selects me for further consideration in the Participant selection process, I will complete and execute further agreements requested by Producer or Series distributors, (collectively “Participant Agreements”). I acknowledge and agree that (a) unless and until I execute such Participant Agreements, Producer will not consider me as a possible Participant for the Series and (b) Producer is accepting my Submitted Material in reliance on my completion and execution of the Participant Agreements.
2. I shall not receive any compensation or credit for submitting the Submitted Material to Producer and understand that Producer may view the Submitted Material.
3. I hereby grant to Producer, One Three Television, LLC (“OTT”), Sony Pictures Television Inc. (“SPT”), American Broadcasting Companies, Inc. (“ABC”), and their respective parents, subsidiaries, successors, assigns, affiliated and related entities, licensees, and the respective owners, officers, directors, members, contractors, agents and employees of each of the foregoing, as well as any television network, television stations and other media exhibitors that exhibit or have the right to exhibit the Series (collectively “Releasees”) the perpetual, irrevocable right and license to distribute, broadcast, and otherwise exploit the Submitted Material, gratis, throughout the universe, in any and all manners, formats and media, whether now known or hereafter devised, in and in connection with the Series or otherwise, including, without limitation, the non-exclusive, fully paid, universal license to use, copy, digitize, sublicense, transmit, distribute, publicly perform, publish, delete or display such Submitted Material, or any portion thereof, in any media now known or hereafter devised including, without limitation, the Series. I authorize the Releasees, and any entities affiliated, related or in privity with Releasees, to utilize on a non-exclusive basis, throughout the universe, in perpetuity and in any manner they see fit, the Submitted Material (including without limitation use in advertising, publicity, marketing, promotional and commercial tie-in purposes in connection with the Series, all allied, ancillary and subsidiary rights therein and thereto, or any other use in connection with the Series in all media now known or hereafter devised), and to make derivative works from such materials. I agree that such use shall be freely assignable by Producer and that Producer and Producer’s assignees and licensees shall have no obligations whatsoever to me (including without limitation no obligation to make any payments to me or to obtain my approval). I hereby grant Producer permission to and Producer shall have the right and sole discretion to edit, alter, modify or change any part of the Submitted Material for any reason in connection with Producer’s (or Producer’s assignee’s or licensee’s) use thereof. It is hereby understood and agreed that the licenses granted in this paragraph shall be exclusive to Releasees from the date hereof through and until six (6) months after the initial broadcast of the final episode of the cycle of the Series for which I would like to be considered as a Participant (regardless of whether Producer selects me to be a Participant on the Series) and non-exclusive thereafter; provided that Producer’s license with respect to Business Indicia shall be non-exclusive.
4. I recognize the possibility that the Submitted Material may be identical with or similar to material which has or may come to Releasees and/or Releasees’ affiliated or related entities from other sources. Receiving identical or similar material has given rise to litigation in the past so that unless Releasees can obtain adequate protection in advance, Releasees will refuse to consider or post the Submitted Material. The protection for Releasees must be sufficiently broad to protect Releasees and all related parties, including without limitation Releasees’ parent, subsidiary, affiliated and related entities and their respective officers, directors, shareholders, employees, contractors, agents, representatives, broadcasters, distributors, licensees, assigns, and all parties to whom the foregoing submit material or have been or may be involved in developing, financing or exploiting materials and properties generally. Accordingly, as a further inducement to Producer to examine the Submitted Material and to consider me for selection as a Participant, I represent, warrant and agree, as follows:
a. I acknowledge that the Submitted Material is submitted voluntarily and not in confidence or in trust and that no confidential or fiduciary relationship is intended or created between Releasees and me by reason of such submission or otherwise. Nothing in this Agreement, or the submission of the Submitted Material, shall be deemed to place Releasees in any worse position than any member of the public with respect to the Submitted Material. Accordingly, without limiting any of the rights and releases I have granted herein, any part of the Submitted Material which could be freely used by any member of the public may be used by Releasees without liability to me or any other party claiming from or through me.
b. I understand and agree that Releasees’ use of material similar to or identical with the Submitted Material or containing features or elements similar to or identical with those contained in the Submitted Material shall not obligate Releasees to negotiate with me nor entitle me to any compensation or other entitlement if Releasees determine that Releasees have an independent legal right to use such other material (either because, e.g., such features or elements were not new or novel, or were not originated by me, or were or may hereafter be independently created by or submitted to Releasees).
5. I represent and warrant that the description provided above is true and accurate and that (i) I either solely own the Submitted Material, free of any lien or encumbrance, or have obtained all necessary rights to grant Releasees the right and/or to permit Releasees to use the Submitted Material in connection with the Series or otherwise, in any and all media, now known or hereafter devised, through the universe in perpetuity, and that I have all production, distribution and/or exploitation rights in and to the Submitted Material, including without limitation all rights to the likenesses, names, voices and biographical information incorporated in the Submitted Material, any locations, any artwork, any logos or other intellectual property, and any and all other elements or content in the Submitted Material; (ii) it is original with me and not based on any other material or source; (iii) the use and exploitation thereof will not violate or infringe any third party rights; and (iv) I have the right to submit and to offer such material to Releasees without obligation to any third party, and the consent of no other person or entity is required for Releasees to fully exploit the Submitted Material as provided herein. I further represent that I am the sole copyright owner in all music and scoring incorporated in the Submitted Material as set forth herein or have obtained all necessary rights to grant Releasees the right and/or to permit Releasees to use all music and scoring incorporated therein. I further represent and warrant that I will not assert, maintain or assist other persons in asserting or maintaining against Releasees any claim, action, suit or demand of any kind or nature whatsoever related to the use of the Submitted Material, including without limitation those grounded upon copyright, trademark or patent infringement, invasion of privacy or publicity rights, other civil rights, or any other ground in connection with the use of the Submitted Material in the Series or in other productions. I further represent and warrant that I am competent to agree to all of the provisions in this Agreement.
6. I agree that no obligation of any kind is assumed by Releasees or may be implied against Releasees (including, without limitation, any obligation to pay money) by reason of Releasees’ receipt or potential or actual review of the Submitted Material or any discussions or negotiations I may have. Without limiting the foregoing, I specifically acknowledge and agree that (a) I do not and will not under any circumstances have or assert any so-called “idea submission,” implied contract or similar claim against Releasees, and (b) Releasees are free to use (i.e., Releasees will not owe me any money or other obligation for using) any portion of the Submitted Material.
7. Both Producer, on behalf of itself, SPT and ABC, and I acknowledge, understand and agree that any action, proceeding or litigation concerning this Agreement or my appearance or participation in the Series may only be brought in Los Angeles County, California, and that, subject to the arbitration proceeding below, the courts of Los Angeles County, California, shall have exclusive jurisdiction over me and the subject matter of any such proceeding. I agree that any and all disputes, controversies or claims arising under or relating to this release or any of its terms, including without limitation the applicability of this arbitration provision, any effort by any party to enforce, interpret, construe, rescind, terminate or annul this release, or any provision thereof, and any and all disputes or controversies arising under or relating to my possible appearance or participation in the Series that are not otherwise barred or released pursuant to the terms of this Agreement (collectively, “Matters”), and cannot be resolved through direct discussions, I agree to endeavor first to resolve by mediation conducted in the County of Los Angeles by JAMS or its successor (“JAMS”). If any Matter is not resolved, as set forth above, I then agree that it shall be resolved by binding arbitration conducted in accordance with the Streamlined Arbitration Rules and Procedures of JAMS, through its Los Angeles, California office, in accordance with California law. Any such arbitration shall be conducted by a single, neutral arbitrator, who shall also be a retired judge of a state or federal court, experienced in entertainment disputes, and selected from the JAMS’ panel of arbitrators proffered by its Los Angeles, California office. If the parties cannot agree upon an arbitrator after good faith discussion, the arbitrator shall be chosen by JAMS pursuant to the requirements of this paragraph. I agree that the arbitrator’s ruling in the arbitration shall be final and binding and not subject to appeal or challenge. I further agree that the arbitration proceedings, testimony, discovery and documents filed in the course of such proceedings, including the fact that the arbitration is being conducted, must be treated as confidential and must not be disclosed to any third party to such proceedings, except the arbitrator(s) and their staff, JAMS and its staff, the parties’ attorneys and their staff, and any experts retained by the parties. The Federal Arbitration Act (9 U.S.C. § 1, et seq.) or its successor statute shall apply and govern the enforcement of this arbitration clause. By agreeing to arbitration, the parties acknowledge that they have waived the right to a jury trial. I further acknowledge and agree that the business realities of television productions of this nature, including the Series, create special circumstances for which Releasees must be able to maintain its ability to seek injunctive relief and/or other equitable and/or provisional remedies. Accordingly, I agree that nothing in this paragraph or in any of the applicable rules of JAMS, shall prevent Releasees from seeking provisional relief outside of arbitration. For example, a participant’s premature or threatened disclosure in violation of the confidentiality provisions of this Agreement could result in a reduction of audience interest or other diminution in the value of the Series or Releasees’ rights hereunder, which would cause Releasees irreparable injury and damage that could not be reasonably calculated or adequately compensated by damages in an action at law. I hereby expressly agree that Releasees shall be entitled to injunctive and other equitable relief pursuant to California Code of Procedure section 1281.8 and any successor or similar statute.
8. I assume full responsibility for any loss of the Submitted Material for any reason including, without limitation, whether it is destroyed in connection with electronic submission (if permitted), mailed submission or otherwise. Releasees shall have no obligation to read or consider the Submitted Material or to return the Submitted Material to me.
9. I hereby release Releasees to the maximum extent allowed by law of and from any and all claims, costs, demands and liabilities of every kind whatsoever, known or unknown, that may arise in relation to the Submitted Material or by reason of any claim now or hereafter made by or through me or on my behalf (even though I realize that such might be based on facts or circumstances not now known or suspected by me to exist, which if known or suspected, would have materially affected our decision to enter into this agreement) that Releasees have used or appropriated the Submitted Material. I am aware of the existence of section 1542 of the California Civil Code, which provides:
A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.
Notwithstanding this provision, this Agreement shall constitute a full, final, and complete release, accord and satisfaction of each and every claim released hereunder that I have or may have, at any time, against Releasees. To the maximum extent permitted by law, I knowingly and voluntarily waive the provisions of section 1542 of the California Civil Code, as well as any other statute, law or rule of similar effect of any other jurisdiction throughout the world, and acknowledge and agree that this waiver is an essential and material term of this Agreement. I represent that I understand and acknowledge the significance and consequence of the releases I have made herein and of my waiver of any rights I may have under section 1542 of the California Civil Code and any other similar statutes, laws and rules. Without limiting the foregoing, I further expressly waive and release all rights to seek and/or obtain injunctive or other equitable relief (including rescission hereof) against Releasees, in connection with this Agreement and any exploitation of the Submitted Material and in connection with any other material, whether or not in whole or part identical with or similar to the Submitted Material.
Initial Here: _______________
10. I agree to defend (at Releasees’ option), indemnify Releasees and hold Releasees harmless from and against all liability, actions, claims, demands, losses or damages (including attorneys’ fees and costs and punitive damages) caused by or arising out of Releasees’ use of the Submitted Material or any rights granted by me herein in any manner, or as a result of any breach or alleged breach of any of my representations or warranties herein, including, but not limited to, those set forth in Paragraph 5, above.
11. I am not now, nor have been in the past two (2) years, an employee or an independent contractor of Producer, OTT, any entity owned, controlled or affiliated with Mark Burnett, SPT, ABC, or any of their respective parents, subsidiaries or affiliated or related entities. Nothing in the application process is intended to create an employment relationship between me and any of the foregoing parties, and I agree that by applying to be considered for selection as a Participant, no such employment relationship is created or implied.
12. Should any provision of this Agreement be void or unenforceable, such provision shall be deemed omitted, and this Agreement with such provision omitted shall remain in full force and effect.
13. This Agreement is entire and shall be binding on the parties’ respective successors, assigns, licensees and all affiliated and related parties. No statements or representations have been made except those expressly stated in this Agreement. This Agreement may be modified only by subsequent written agreement. “I,” “me” and “my” refers to the party submitting the material, and any individual who may be competing for the benefit of such party, to Producer.
14. Producer and Releasees may freely assign, in whole or in part, their rights hereunder.
15. This Agreement will be interpreted in accordance with the laws of the State of California applicable to agreements entered into and fully performed therein by residents of California (but not its conflict of laws principles).
Very truly yours,
Signature: _______________________________________________________________
Print Name: _______________________________________________________________
Entity Name (LLC, Inc.): _______________________________________________________________
Collaborators (if any): _______________________________________________________________
Signature: _______________________________________________________________
Title: _______________________________________________________________
REMINDER: BE SURE TO INITIAL PARAGRAPH 9
ACKNOWLEDGEMENT OF FURTHER AGREEMENTS

I (including any entity set forth below (or successor entity) and/or through which I market or conduct or may market or conduct my Business, as defined below) understand, acknowledge and agree that as a condition of and in consideration for being considered to participate in the reality-based competition television program currently entitled “Shark Tank” (“Series”), I will be required to fully complete a Business Details Questionnaire, an Intellectual Property Questionnaire, a Background Questionnaire, an Applicant Release and submit voluntarily to a background check (and to execute all consents, authorizations and releases in connection therewith).
I understand that the announcement, solicitation and/or acceptance of any investment in my Business or any equity interests thereto of any kind from one or more of the venture capitalist “sharks” or any other person may be a securities offering and/or a sale of securities governed by federal, state and other securities laws, and I agree to comply with any and all applicable securities laws in connection therewith, including but not limited to laws governing the offer and sale of securities. I also understand that it is my sole responsibility to comply with such securities laws, that the Shark Tank Entities (as defined below) will not be providing me with any advice or assistance of counsel in that regard. In addition, I acknowledge and agree that the Shark Tank Entities will not be acting on my behalf, either directly or indirectly, as an agent, broker or finder, in connection with the offer or sale of any securities and that the Shark Tank Entities will not have any liability for my failure to comply with such securities laws.
I further understand and acknowledge that I will be required to enter into further agreements with Finnmax LLC (“Producer”) relating to the business that I may present to the sharks for possible investment (my “Business”). Among other things, those agreements are currently anticipated to provide that as a condition of my participation on the Series, Producer, Sony Pictures Television Inc. and American Broadcasting Companies, Inc. (collectively the “Shark Tank Entities”) or their designee(s) will receive an irrevocable option (the “Option”), to do any of the following or none, at their election and in their sole discretion:
1. Receive a 2% royalty of the operating profits of my Business or
2. Receive warrants that give the Shark Tank Entities or their designees a 5% equity interest in my Business or
3. Receive 5% of the value from a liquidity event in connection with my Business.
The Option shall vest only upon the occurrence of either of the following: (i) I enter into a binding agreement regarding my Business with a shark within two (2) years of the date of my presentation to the shark or (ii) the initial exhibition of an episode of the Series that includes my presentation to the sharks (or a portion thereof sufficient to allow a reasonable person to identify the name and nature of my Business).
The Option shall also vest with respect to businesses other than my Business if I enter into a binding agreement with a shark regarding such other businesses during the two (2) years following my introduction to the shark. The specific terms and conditions of the Option, royalty, warrants and the value (e.g., exercise provisions, rights to documentation, shareholder rights such as pro-rata rights and anti-dilution protections, etc.) shall be set forth in one or more further agreements between Producer and me.
The Shark Tank Entities or their designee(s) will give good faith consideration to my expressed preference as to the form of the Option (i.e., royalty, warrants or value) to be exercised following the vesting of such Option; provided, however, the determination of the form of the Option to be exercised shall be made in the Shark Tank Entities’ sole and final discretion.
If the Option is exercised, the Shark Tank Entities’ royalty, right to receive warrants or right to receive the value (as applicable) will be an obligation in addition to any obligations contained in any agreement between me and any shark. In addition to any other remedies (at law, in equity, or otherwise) available to Shark Tank Entities or their designee(s), my failure to execute such agreements in the form presented may result in my immediate disqualification from the Series.
Participant Name: _______________________________________________________________
Entity Name (LLC, Inc.): _______________________________________________________________
Signature: _______________________________________________________________
Signature: _______________________________________________________________
Dated: _______________________________________________________________
Title:
_______________________________________________________________
Last edited by coolmax on Wed Jun 12, 2013 9:38 pm, edited 2 times in total.

Re: "Shark Tank"

Postby coolmax » Wed Jun 12, 2013 2:03 pm

coolmax
Yellow Belt
 
Posts: 79
Joined: Tue Oct 24, 2006 8:04 pm
More information about the Sharks

Shark Bites: 10 Questions with the Sharks

We recently asked the Sharks about their experience in the Shark Tank - from the best investments they've made to what makes a good pitch great. See what they had to say.

Shark Bites - Daymond John

Question: What is the best investment you have made to date on Shark Tank ?
Answer: The best short term investment where we flipped the company would be when I went in with Kevin O'Leary on Talbot Teas and we sold it immediately to Jamba Juice.

That was an immediate pay off. Long term investment I would say is LitterJewelry, we did a deal with Frederick's of Hollywood as well as several other companies who want to do co-branded lines with Litter. So the Litter line will continue to grow and continue to pay off.

Question: Have there been any deals that you had wish that you made in hindsight?
Answer: No, in hindsight there really aren't any deals that I wish that I had made, some deals go off and do really well because they find the right partners. It's more important that I focus on the deals I did make moving forward, I don't really have time to think of the deals that I did not make.

Question: Any investment that you wish you hadn't made?
Answer: No, I don't regret any investments that I have made. The good thing about investments is that though sometimes they may not pay off immediately, if they are strong brands and/or strong entrepreneurs that are running the company they may lay dormant or run as a small business for quite sometime and then all of a sudden take off. Thinking about it it took me 9 years before FUBU had a large recognition. I never underestimate the power of the investments that I make or of the people that I invest in.

Question: Any service/product that you wish you had invented yourself?
Answer: Sorry to say that I don't live by the Motto of I wish. So I have no regrets.

Question: Is there anything that has surprised you over the season in terms of the pitches?
Answer: Yes, very surprised by the Readerest that Lori bought in to. The pitch was great, the product was very very simple and I think simplicity is sometimes the best. Lori did an amazing job with it, I would never have been able to take it there. Even though I hate to admit it sometimes other Sharks are better equipped to do a deal. Another one would be Tower Boards, that was basically aggregating the purchasing of these surf boards and mark has done a great job with that.

Question: Is it possible that someone can have a great idea, but fail in the tank because they can't pitch?
Answer: Absolutely! It's all about relaying your message. If you can't properly relay your message to us as investors how are you going to relay your message to potential consumers out there about your product.

Question: What's your best advice on how to pitch?
Answer: Understand what's in it for the person you are pitching to. Do not go into it about self fulfillment, that you want to be wealthy that you want your product out. That doesn't mean anything to the person you are pitching to. Why will one of the panelists or one of the people you are pitching to find value in the product? Will it enrich their lives? Will it be able to leverage in their portfolio? Will it make them feel cool? Will it bring them money?

Question: Do you have to be memorable to make a good pitch?
Answer: Depends on the level of the product. The thing that makes you most memorable to any of the Sharks are sales. Sales will make you memorable. If you don't have sales then you have to think of another way to resonate with the sharks.

Question: What's the most important lesson an entrepreneur can learn by watching what goes down in the Tank?
Answer: How to value your company and how to value the person across the table to come up with an accurate valuation of a deal.

Question: What's been the most memorable part of being on the show for you?
Answer: The learning process in general. I not only learn from the other Sharks with their wealth of knowledge, but I learn from the inventors. They are sharp and creative in a new day and age, a more digits and technical day and age where I may not be as well versed.

Shark Bites - Kevin O'Leary

Question: What is the best investment you have made to date on Shark Tank ?
Answer: Talbott Teas. Those guys understood that it's all about the money - grow fast, get distribution and get out. No wonder they got acquired by a major public company less than 6 months after they came into the Tank. Now they're rich, and I got a great return on my investment.

Question: Have there been any deals that you had wish that you made in hindsight?
Answer: Never. If I'm out of a deal I never, ever look back. They're dead to me.

Question: Any service/product that you wish you had invented yourself?
Answer: I don't get emotionally invested in any one product or another. It's all about the money! That's all I care about. And I think that's an important lesson for entrepreneurs everywhere, too: don't be emotional about your business. Focus on what matters: your bottom line.

Question: Is there anything that has surprised you over the season in terms of the pitches?
Answer: Every day in the Tank brings new surprises! It's part of what makes Shark Tank so unique and so resonant - because it celebrates American business entrepreneurs - and they are always full of surprises.

Question: Is it possible that someone can have a great idea, but fail in the tank because they can't pitch?
Answer: I see it all the time. People come in and they aren't prepared enough, or they don't know a key number or they aren't good communicators.

Question: What's your best advice on how to pitch?
Answer: Know your numbers. And if you aren't good with numbers, bring someone who is!

Question: Do you have to be memorable to make a good pitch?
Answer: Yes! And if you show me clear how I can make money, I'll remember!

Question: What's the most important lesson an entrepreneur can learn by watching what goes down in the Tank?
Answer: It's all about the money, all the time!

Question: What's been the most memorable part of being on the show for you?
Answer: The chance to invest in these great companies. What can I say? I'm in it for the money!

Shark Bites - Barbara Cocoran

Question: What is the best investment you have made to date on Shark Tank ?
Answer: The best investment that I have made on Shark Tank is Daisy Cakes. In just two short years Kim Daisy has built an established brand on pace to have 1.5 million in sales this year. She has enormous charisma & drive that translates into great salesmanship – the key to any great business.

Question: Have there been any deals that you had wish that you made in hindsight?
Answer: Yes. I didn't bid on a company that rents wedding dresses online. The entrepreneur was terrific but I didn't believe women would be quick to rent a wedding dress. I was wrong. She has gone on to grow a big business.

Question: Any investment that you wish you hadn't made?
Answer: Sure, a few. But I have forgotten them & moved on.

Question: Any service/product that you wish you had invented yourself?
Answer: No, I'm not an inventor. I am a brand builder & people builder.

Question: Is there anything that has surprised you over the season in terms of the pitches?
Answer: Yes. I'm still scratching my head over the fantastic claims entrepreneurs make on set. Like, the engineer & Rhodes scholar who claimed he could turn sea water into pure gold if only we would give him the million dollars to build his water tower. Or the dentist with a toothpaste that puts you to sleep. Or the lady with the lipstick that makes you lose weight. We hear them all on Shark Tank.

Question: Is it possible that someone can have a great idea, but fail in the tank because they can't pitch?
Answer: Absolutely! If the entrepreneur can't answer the Sharks' basic questions about their own company then it's always a deal breaker even when the business may be the greatest idea. The entrepreneur is more important than the idea, and if they can't sell their business idea – no matter how good it is, it is destined to fail.

Question: What's your best advice on how to pitch?
Answer: Over prepare, and practice, practice, practice. You've got to know your numbers well and have enormous energy in the pitch and passion for your product. One of the best pitches I have seen came from Cousins Maine Lobster – a company I invested in. They had every answer, but more importantly I could tell that they had a real passion for their company. Once we were in business together they said that they had watched every episode of Shark Tank and listed every question ever asked. They prepared three answers for every question and practiced together for three months in anticipation of the show. Clearly, they got my money and are enormously successful.

Question: Do you have to be memorable to make a good pitch?
Answer: One of the first things that goes through my mind when an entrepreneur is pitching on set is, "how will they play on TV? Will people watching like them at home? Are they enough of a character to stick in peoples' mind?" It is very important to be memorable, but it is only one part of putting together a good pitch.

Question: What's the most important lesson an entrepreneur can learn by watching what goes down in the Tank?
Answer: To build a business you have to be able to sell your idea. Beginners' passion is not enough. You have to be able to present your idea or business as simply irresistible and back up your claims with real numbers that make common sense.

Question: What's been the most memorable part of being on the show for you?
Answer: I love the updates because we all learn the end to a good story. Some people get the cash and flop, and others become millionaires.

Shark Bites - Lori Greiner

Question: What is the best investment you have made to date on Shark Tank ?
Answer: The Readerest was my 1st and in just a year since its' debut episode on Shark Tank we have hit 5 ½ million in sales, it is in major national retailers & 20 international countries. Rick has been a delight to work with and we've also gone on to create two other new items together which are also new successes on the market.

Question: Have there been any deals that you had wish that you made in hindsight?
Answer:No regrets

Question: Any investment that you wish you hadn't made?
Answer: I'm happy to say no, all the deals that went through that I did do, I'm happy I did them.

Question: Any service/product that you wish you had invented yourself?
Answer: No, I'm happy that the inventors invented them and that they're doing well and are successful…it's their turn.

Question: Is there anything that has surprised you over the season in terms of the pitches?
Answer: Yes, some entrepreneurs that I thought were very genuine in wanting the Sharks' help, I found were not. That was very disappointing & surprising.

Question: Is it possible that someone can have a great idea, but fail in the tank because they can't pitch?
Answer: Yes, and we saw it happen this past season.

Question: What's your best advice on how to pitch?
Answer: Be confident, and likeable, know your product inside & out. Be prepared & try to practice and be ready for any questions that could possibly come your way about you, your product, or your business idea.

Question: Do you have to be memorable to make a good pitch?
Answer: It obviously would help if the person & the idea were something that were so compelling that they would be memorable.

Question: What's the most important lesson an entrepreneur can learn by watching what goes down in the Tank?
Answer: Be prepared, enthusiastic, know your idea inside & out, have all the facts, be polite & respectful-be someone people would want to work with. If you're not passionate about your product or idea, no one else will be.

Question: What's been the most memorable part of being on the show for you?
Answer: How much I enjoy the cast & crew, it's a wonderful team & one I'm proud to be a part of.

Shark Bites - Robert Herjavec

Question: What is the best investment you have made to date on Shark Tank ?
Answer: Chordbuddy comes to mind – great guy and an even better investment – product has found a niche and we have had spectacular growth.

Question: Have there been any deals that you had wish that you made in hindsight? Any investment that you wish you hadn't made?
Answer: No – my life has no rear view mirror – constant forward momentum. You can't change the past.

Question: Any service/product that you wish you had invented yourself?
Answer: No – I'm not a big believer in invention - I have lots of ideas, but the magic is not in the creation of ideas – it's in the execution of the plan.

Question: Is there anything that has surprised you over the season in terms of the pitches?
Answer: People know us – they study us – they are becoming more astute – we have to elevate our game – not only with the pitchers but also against the other Sharks.

Question: Is it possible that someone can have a great idea, but fail in the tank because they can't pitch?
Answer: Yes – happens all the time. A great business is a mixture of the right entrepreneur, product, execution and so on. You can't have one without the other – a great idea without a great entrepreneur is not a business – it is simply potential.

Question: What's your best advice on how to pitch?
Answer: Get us interested ( quickly ) – bored Sharks make snap decisions – and not always in your favor. Once you have us interested – know your numbers.

Question: Do you have to be memorable to make a good pitch?
Answer: No – but you have to be able to make an impact while you are in front of us.

Question: What's the most important lesson an entrepreneur can learn by watching what goes down in the Tank?
Answer: If the 6 of us can be successful, anyone can – and more importantly any business, in any field can be a great business – look at the varied set of products and services people come to us with.

Question: What's been the most memorable part of being on the show for you?
Answer: Inspiring others – when I was growing up being in business was not cool. I think Shark Tank is making business cool in our own small way – and of course, as a boring old computer guy, I am appreciative that my name and cool would ever be used in the same sentence.
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