Taking Swift Action to Protect Your IP with SwiftPaws' Meghan Wolfgram

Summary

In this episode of the Future of IP Protection podcast, host Brandy Spence interviews Megan Wolf Grim, founder of Swift Paws, a pet lifestyle brand. Megan discusses her journey from creating a lure coursing machine for her dog to launching a successful Kickstarter campaign and appearing on Shark Tank. She shares her experiences with IP protection, including securing patents and dealing with counterfeits. Megan emphasizes the importance of having strong IP and a reliable legal team, and offers advice for small businesses facing similar challenges.

Takeaways

• 📅 Megan Wolf Grim founded Swift Paws in 2012, starting with a passion for her dog Pretzel's love for lure coursing.
• 🐾 Swift Paws began with professional-grade equipment for dog sports and later pivoted to consumer products, launching their first Kickstarter campaign in 2018.
• 🚀 The company's growth accelerated after appearing on Shark Tank, where Megan pitched her product and successfully secured a deal with Lori Greiner.
• 📈 Megan emphasizes the importance of having Intellectual Property (IP) protection, like utility patents, to safeguard inventions and give confidence when scaling a business.
• 🤝 Partnering with Lori Greiner provided not only investment but also valuable advice and mentorship, helping Swift Paws to navigate challenges like counterfeit products.
• 🛑 Swift Paws encountered counterfeit products on Amazon, which were dealt with using Amazon's Brand Registry and patent evaluation processes.
• 💡 Megan advises other businesses to be proactive in understanding the IP protection processes of their sales channels to quickly address infringements.
• 🔄 The company is committed to safety, with significant investment in research and development to ensure their products are safe for pets.
• 🌟 Swift Paws is developing new products like 'Chase', which is more affordable and aims to make their product accessible to a broader audience.
• 🔗 Megan encourages entrepreneurs to leverage their networks, including investors and advisors, for support and strategic guidance when facing business challenges.

Q & A

What is the main focus of the 'Future of IP Protection' podcast?

The podcast is dedicated to providing companies with the skills, know-how, and technology needed to future-proof their Intellectual Property (IP) protection strategy.

Who is the founder and CEO of Swift Paws, as mentioned in the podcast?

Megan Wolf Grim is the founder and CEO of Swift Paws, a health and wellness lifestyle brand for pets.

What product did Megan pitch on Shark Tank?

Megan pitched a product called Swift Pods, which is a piece of equipment designed for dogs to engage in lure coursing activities.

What was the motivation behind creating Swift Pods?

Megan's motivation for creating Swift Pods was her dog Pretzel, who was not a sight hound but loved chasing things. She wanted to participate in lure coursing activities despite the sport being open only to sight hounds at the time.

How did Swift Paws transition from a professional-grade equipment maker to a consumer brand?

Swift Paws started making professional-grade equipment and then pivoted to consumer products in 2018 when they launched their first consumer version on Kickstarter.

What was the impact of the COVID-19 pandemic on Swift Paws?

The pandemic initially caused material delays and stockouts for Swift Paws. However, from July to December 2020, they experienced their best year ever in sales.

How did Megan's experience on Shark Tank influence her business?

Megan's appearance on Shark Tank resulted in a partnership with Lori Greiner, who became an advisor and helped Swift Paws scale and prepare for increased traffic and sales.

What measures does Swift Paws take to protect its IP?

Swift Paws has two utility patents and counting to protect its IP. Megan also emphasizes the importance of having strong IP and legal advice to deal with potential counterfeit issues.

What was Swift Paws' experience with counterfeit products?

Swift Paws encountered counterfeit products about a year after their Shark Tank appearance. They dealt with it using Amazon's new Apex program, which is designed to protect brands with utility patents.

What is the Apex program, and how did it help Swift Paws?

The Apex program is a patent evaluation program on Amazon for brands with utility patents. It allows brands to register their IP with Amazon and take action against potential infringers in a formal process.

What is the new product 'Chase' that Swift Paws is working on?

Chase is a more affordable version of Swift Pods that Swift Paws is developing. They are involving pre-order customers in the development process, allowing them to provide feedback and influence the final product.

How can listeners get in touch with Swift Paws or learn more about their products?

Listeners can visit Swift Paws' website at swift.com or find them on social media platforms. They can also join their public Facebook community group for more interaction.