FREQUENTLY ASKED QUESTIONS How George Clooney Made $1 Billion Using Trademarks?
What role did trademarks play in the $1 billion sale of George Clooney's tequila brand?
About five years ago, George Clooney and his partner were brainstorming the launch of a tequila brand.
The very first thing they did was give it a name and apply for that trademark. About a year after registration, they chose a distiller in Mexico to manufacture the beverage.
Their recipe was a success, and sales began to take off. Then, earlier this year, the partners sold the brand to Diegeo (the largest liquor company in the world) for $1 billion.
THINKING OF TRADEMARKING YOUR BRAND?
Money from Thin Air?
If you think George Clooney's name is the reason for such a fantastic sale price, think again. Diageo could hire Mr. Clooney to advertise all their drinks, existing lines, and brands for much less than $1 billion. Instead, they paid him $1 billion to acquire the brand.
There was something more tangible than a famous name or face, and therein lies the lesson. The brand could only command such a price because they correctly protected it from the beginning.
Before a single bottle hit the shelf, before they made the announcement, they trademarked the name so no one else could take it. Then they built a product around their trademark and set about monetizing the brand.
Summary
Clooney and his partner's clever utilization of their brand and practical approach to monetization are fantastic lessons, and we thank them for it.
It is not a lesson about naming tequila but that your brand can have massive value if you take the proper steps to protect and build something around it.
Build a brand and be legendary.
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Disclaimer: Please note that this post and this video are not and are not intended as legal advice. Your situation may be different from the facts assumed in this post or video. Your reading this post or watching this video does not create a lawyer-client relationship between you and Trademark Factory International Inc., and you should not rely on this post or this video as the only source of information to make important decisions about your intellectual property.
