WEBVTT - Cliff Notes: Exploring Licensing Strategies - What To Know

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<v Speaker 1>Earners.

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<v Speaker 2>What's up.

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<v Speaker 3>to you by P and C Bank, a lot of

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<v Speaker 4>So you talked about Kanye and he became a billionaire

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<v Speaker 4>because of easy licensing deal with Adidas one hundred percent

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<v Speaker 4>of yeasy, but it was distributed through Adidas, and when

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<v Speaker 4>Adidas dropped him, he lost four billion dollars in his

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<v Speaker 4>net worth? Right? So was what does that speak to

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<v Speaker 4>as far as on the licensing side, did he have

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<v Speaker 4>a bad licensing deal.

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<v Speaker 2>One thousand percent?

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<v Speaker 4>Explain?

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<v Speaker 2>So, if I remember correctly, in his contract he gave

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<v Speaker 2>up creative control and which means in his contract he

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<v Speaker 2>also didn't have the language stated that anything that was

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<v Speaker 2>developed by the licensee was owned by the licensere. So

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<v Speaker 2>when I go to the table with my licensees and

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<v Speaker 2>like we're looking at here, caare like bowls and stuff, right,

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<v Speaker 2>and they'll develop a different like look of the unicorn,

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<v Speaker 2>maybe a different polls or a different pattern or something,

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<v Speaker 2>I still own it. So when they made any variation

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<v Speaker 2>of his product, they immediately grabbed ownership. I'm dealing with

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<v Speaker 2>a situation right now with the company, not on the

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<v Speaker 2>consumer product side, but it's on a different side on

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<v Speaker 2>the production side. And I saw how in the beginning

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<v Speaker 2>they were trying to change the look of the unicorn

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<v Speaker 2>and trying to change a lot of things about the

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<v Speaker 2>unicorn because they wanted to own as much of the

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<v Speaker 2>property as they possibly could. So they probably tried to

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<v Speaker 2>pull that on him, and I believe he said something

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<v Speaker 2>like he don't read contracts.

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<v Speaker 1>So have there ever been any issues in terms of trademarking,

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<v Speaker 1>Like when I mean we come from an everwhere it

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<v Speaker 1>was like it was my little pony right like that

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<v Speaker 1>that was and then it was I guess my daughter

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<v Speaker 1>kind of fell into this like rainbow dash and all

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<v Speaker 1>those things, and so have you come into contact with

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<v Speaker 1>people trying to make a similar product or similar trademark,

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<v Speaker 1>And how's that process been I did.

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<v Speaker 2>It's hurtful for one, like I take this personal because

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<v Speaker 2>what I we didn't talk about how I started the

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<v Speaker 2>whole why Nipsey and Tupacer up here, like how my

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<v Speaker 2>marathon continues. How I have this adgas no breaks mentality

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<v Speaker 2>that I launched this brand. My son was in the

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<v Speaker 2>hospital for twenty days. When he got out, my favorite

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<v Speaker 2>uncle died a massive heart attack. Seventeen hours later, my

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<v Speaker 2>uncle died. Six months later, my grandmother died, and then

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<v Speaker 2>we were in a global pandemic. I have a lot

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<v Speaker 2>of heart and soul into this brand. So when someone

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<v Speaker 2>tries to come out with their version of Afro Unicorn,

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<v Speaker 2>it's a serious problem. And so yeah, I had to

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<v Speaker 2>first I tried to ignore it. My thing was, I'm

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<v Speaker 2>just gonna work harder, like I'm just gonna outwork them.

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<v Speaker 2>I'm gonna outwork them. But it starts to become confusion

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<v Speaker 2>in the marketplace. And so the trademark attorney was, like,

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<v Speaker 2>April have confusion in the marketplace because people were purchasing

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<v Speaker 2>this other brand believing that they were buying Afro Unicorn,

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<v Speaker 2>so then we had to take it to we had

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<v Speaker 2>to sue. Yeah, we had took.

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<v Speaker 1>A year because it is a domestic trademark or is

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<v Speaker 1>it international as well?

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<v Speaker 2>Only some countries. You know, you have to trademarket in

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<v Speaker 2>every single country you go to. Right now, we're only

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<v Speaker 2>in the US and Canada, so we have to strategically

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<v Speaker 2>get to the other countries and we're working towards it.

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<v Speaker 2>But it's it definitely is a process. But this particular company,

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<v Speaker 2>it took us a year to get to to get

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<v Speaker 2>to a positive resolution that I'm still not really that

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<v Speaker 2>much happy with. But I'm back to my thing. I'm

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<v Speaker 2>just gonna outwork them, So.

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<v Speaker 4>So don't worry about the how. Yes, what does that mean?

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<v Speaker 2>I didn't know how I was going to be on

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<v Speaker 2>this interview with y'all. I knew it was going to

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<v Speaker 2>happen because I saw it. So you have to as

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<v Speaker 2>an entrepreneur, well entrepreneurs, that's what we're speaking to, you

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<v Speaker 2>have to see the end goal what it is. I

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<v Speaker 2>knew African Cronin is gonna be a household name in

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<v Speaker 2>a worldwide brand, point blank period. You couldn't tell me

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<v Speaker 2>that it wasn't I didn't know how it was going

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<v Speaker 2>to get there. It's getting there through through licensing. Right,

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<v Speaker 2>I'm just a real manifestor. I truly believe that whatever

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<v Speaker 2>I see already exist in the future. Because you cannot

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<v Speaker 2>see anything. You can't like, you can't tell your right

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<v Speaker 2>foot to go like you got it. In order to walk,

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<v Speaker 2>your brain gotta tell your right foot to take the

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<v Speaker 2>step right. So I truly believe that before anything can happen,

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<v Speaker 2>because it already exists. And I'll prove it to you.

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<v Speaker 2>I know there's so many people out there that have

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<v Speaker 2>seen ideas that're like, dang, I had that idea because

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<v Speaker 2>the moment you thought about it, it already exists. The

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<v Speaker 2>problem is are you going to be there to see

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<v Speaker 2>it through? So I don't worry about the how. Once

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<v Speaker 2>I see it, and everybody knows this around me, they

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<v Speaker 2>know if April. If April says it's gonna happen, all money.

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<v Speaker 4>In, all money in, that's a fact, no money out, sore.

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<v Speaker 4>Are you using different companies for the like the licensing

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<v Speaker 4>or is it the same company?

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<v Speaker 2>I have over forty five different licensees. Licensing is by category,

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<v Speaker 2>So there's a company that does underwear Handcraft. There's a

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<v Speaker 2>company that does apparel, Mad Engine. There every single category.

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<v Speaker 2>When you start going into stores, start flipping over those packages.

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<v Speaker 4>So how'd you find these companies?

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<v Speaker 2>Flip over the packages? And I literally was in the stores.

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<v Speaker 4>I was.

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<v Speaker 2>I would shoot pictures to a ski and be like,

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<v Speaker 2>this is who I'm gonna get on LinkedIn. I'm gonna

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<v Speaker 2>find this company and we're gonna find who handles licensing.

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<v Speaker 4>And then you reach out to them, yep, directly, and

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<v Speaker 4>then you so you negotiate with being that they didn't

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<v Speaker 4>reach out to you, you reached out to them. They have

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<v Speaker 4>more leverage in this situation, right.

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<v Speaker 2>Sometimes, But once you have Walmart, So my spade was Walmart,

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<v Speaker 2>Like that was my ace. I have Walmart, And once

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<v Speaker 2>you know you have the attention of Walmart, their antennas

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<v Speaker 2>are up, okay because everyone wants to get in Walmart.

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<v Speaker 2>And people I know look at Walmart like it's Walmart

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<v Speaker 2>because we don't really shop at Walmart. I know, it's

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<v Speaker 2>not a big thing here in New York. But for retail,

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<v Speaker 2>they are the god. Walmart is the god of retail.

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<v Speaker 2>And if you can't get yoke like everyone it used

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<v Speaker 2>to be is different now, but they're like in order

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<v Speaker 2>for a property to be successful, it has to.

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<v Speaker 5>Be in walmart An illegal alien from Guatemala charged with

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<v Speaker 5>These are just some of the heinous migrant criminals caught

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