Shark Tank – Lori Life Gets $250k Funding
by Shark Tank TV Show on Tuesday, September 1st, 2009 | 1 Comment
On this past weekend's episode of "Shark Tank," the ABC reality show featuring Corcoran Group founder Barbara Corcoran, Corcoran made an offer on a product called Stress Free Kids, a line of books incorporating relaxation techniques designed to help kids manage stress and fall asleep more easily.
Corcoran offered $250,000 to product creator Lori Lite in exchange for 50 percent equity in Lite's company.
When Lori's counteroffer failed, she accepted Corcoran's offer. Shark Tank TV Show does it again!
BUT….
Did she give up to much of her company to these sharks?
This product “Stress Free Kids” is a clear example of theft of intellectual property. Many professionals in several fields have invented and improvise on many techniques that are learned in pedagogy classes, Physical Education classes in schools and universities. I find it most distasteful that a layperson would jump to capitalize on what has been named and in use for decades and probably longer. As a professional who uses techniques that I learned from Pedagogy classes and training to be a teacher (piano, in my case). I have long ago had alliances with professional atheletes who use these techniques daily and have for many years. I know that I have added to my repertoire of relaxation techniques regularly, including the Alexander Technique, which must be studied to be understood. These are very popular amongst musicians and atheletes, so how on earth can this person claim any rights at all to her product, except for the story lines. Unless she gives full credit up front, she is commiting intellectual property theft. This is not appreciated at all by those who are the original proponants and inventors of these techniques. We expect that when we create a useful technique that we use and distribute on our own, that others will respect their ancestors. Personally, I have living proof in the form of testimony and many written examples that I have been using these techniques and many that I have created myself as long as thirty years ago. I certainly expect that I, not the producer of Stress Free Kids, have intellectual property rights and copyright, in some instances on most of what is contained in these books! Yes, we were here first, therefore, you do not own, nor do you have sole rights to the materials in you products. Since most people who use these techniques go to the trouble to educate themselves (B.A.; B.S; and up) we have invested many thousands of dollars and put in the time to have earned the right to call this ours, not an author who has a bright idea without apparently considering the fact that intellectually, this is nothing new at all. I will continue to use my techniques in my studio and to give credit where it is really due. It seems to me this woman is trying to corner the market on what was already in use. Had she been a professional, she would already know this and not sneakily try to claim credit for what has been in existence for a century or more.
Of course, stress is a problem with kids and I would like to see this loosened up. Just know that I have first claim on this than the woman who brought this to The Shark Tank, and I can prove it quickly and easily. So, no ball when it comes to copyright. I have had copyright on my products for at least thirty years. So do many of my colleages. Besides all the professional training and experience I have, as a mother, I used relaxation techniques on my child that were taught to me by Yoga classes.
Sincerely
Lea C. Johnson
Owner, Operator and Sole Proprietor,
The Piano School of Lea Johnson,
All Rights Reserved (1978)