Creating Brand Value With Intellectual Property
Cultivation guru and renowned author, Ed Rosenthal, has seen a lot in his five decades in cannabis. One area of fascination was emulsion infusion and the potential application in different forms. The emulsion process originated in commercial food production but had yet to be developed and tested with cannabis. His R&D partner was charged to turn high quality cannabis oil into powder and capsule forms with the long-term goal of securing utility patents.
Early investors appeared interested in supporting the R&D process until a change of financial goals dictated the need to commercialized product – fast. Karen was brought onboard by the investor group to lead the heavy lifting of bringing a product innovation to the sophisticated California market.
Stardust™ by Ed Rosenthal was born. A powder THC consistent dose product. The name reflected an esoteric universal connection with the bonus of immediate name recognition. Karen’s deep knowledge influencing consumer product adoption, guided development of the brand identity, positioning, and unique benefits messaging. An illustrator designed the packaging to print on materials sourced from China. Finding a co-packer with the sophisticated equipment capabilities to fill tiny packets at consistent weights to assure proper dosing, fell to the R&D partner. Implementing the go-to-market plan – with photo shoots, website development, sales materials, WeedMaps listing, demo days sampling, print ads, PR, and more — helped put the brand on the customer radar.
In the first 90 days, Stardust™ quickly secured retail placement in dispensaries. Projections appeared on course for solid growth. Then the investor group imploded, committed funding vanished, and business growth halted. Not an unusual story for a start-up.
Fortunately, early R&D preparation paid off. A utility patent for the capsule-form of the product was granted. Months later, the brand IP was sold for a healthy price along with the opportunity for the founding team to develop other products using their intellectual property.
Brand Identity Framework, Key Messaging, Go-To-Market Strategy, Retail Sales, Distribution, Intellectual Property, Acquisition
Do you have a product concept you want to develop and commercialize?