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    Joel Embiid’s ‘Trust the Process’ Logo Hints at Business Plan

    shivachetanbijjal@gmail.comBy shivachetanbijjal@gmail.comJanuary 30, 2023No Comments4 Mins Read
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    Joel Embiid continues to believe in the process — both on and off the court.

    The 76ers star recently filed a trademark application for the phrase “trust the process,” which could apply to toys, board games, puzzles, video games, and more.

    The trademark application, filed on Jan. 5, doesn’t mean Embiid already has plans for any of these products – but it does suggest Embiid’s ambitions are to use his fortune to extend his famous 7.5-foot reach beyond the court and into the commercial realm world.

    How a Trademark Application Becomes a Product

    A trademark application is not approved by the United States Patent and Trademark Office (USPTO) until it is used.

    “When you file a trademark application, you can do it one of two ways: One is called a 1A application, and it says ‘I’ve started using this mark. I’m using it in business,'” Lloyd Z. Remick of Philadelphia said Stephen Vanyo, an entertainment attorney and NFL agent at the law firm.

    or, “1B [application] is an intended use application”, which means that an individual or brand has not yet begun commercial use of the mark, but may plan to use it in the future and want to know whether it is protected for their intended use.

    “When you apply for a trademark, you must [give] The specific class you’re filing for,” explains Vanyo. “Once you get a trademark, it’s not going to apply to every industry in the world. “

    After the USPTO certifies the mark as valid, the applicant has six months to file a statement of use demonstrating that it is now in use in commerce. The six-month extension can also be extended up to 3 times after the trademark is initially approved.

    From 2016 to the present, Embiid has submitted intent-to-use applications for “trust process” and “process,” according to filings. The intended uses for these applications run the gamut from apparel such as footwear, socks, and hoodies, to video games and other toys, snow globes, and non-alcoholic beverages.

    “You run the risk of putting a lot of time, effort and effort into brand or product development,” Vanyo said. “All the while, some lawyers are about to send out cease and desist letters, all your investments are wiped out, and you have to rebrand quickly.”

    » Read more: James Harden is the latest NBA player to try to make wine more accessible. I tested it.

    A brand is an athlete’s investment in themselves

    Embiid has never been shy about expressing his desire to grow his fortune and become a savvy businessman.

    “The endorsement business model is great, but it’s not how you get rich,” Embiid told Forbes earlier this year. He mentions one of the most obvious ways in which athletes and other celebrities work with brands in this way: “I’m in a period in my life where I’m learning a lot because I’m still trying to figure out what I’m interested in, what I want to do , so this summer is very important, because I met a group of people who helped me a lot and taught me what is the best model to go from rich to rich.”

    In October, Embiid was one of several professional athletes to buy an ownership stake in Philadelphia-based sportswear company Mitchell & Ness.Mitchell & Ness, which specializes in vintage sweatshirts, was taken over last February Fanatics, the online sports retailer owned by former 76ers executive partner Michael Rubin.

    Rubin told Forbes he’s happy to be working with Embiid off the court and without conflict now that he’s sold his stake in Harris Blitzer Sports & Entertainment.

    “From an early age, Joe was always very curious, asking you a lot of questions, wanting to learn, trying to be the sponge he was growing up with,” Rubin said. “Unlike a lot of NBA players, Joe is very disciplined financially. He probably saves more, invests more and spends less than any player.”

    Embiid negotiated his final contract with the 76ers — a $196 million deal that keeps him in Philadelphia through the 2026-27 season — meaning he’ll be able to keep most players paid to agents commission to negotiate their contracts.

    While he doesn’t have an agent to represent him in contract deals, he does hire two agents from WME (Hollywood’s oldest talent agency) to represent him in off-site business transactions — such as those related to filing trademark applications. Embiid’s WME representative did not respond to a request for comment on the latest document, dated Jan. 5.

    “Athletes realize that they don’t have to have a team branding them or a shoe company branding them,” Vanyo said. “Athletes want to make sure they can build their brand and be their own company, and having a trademark and making sure you have the right to use your name is an important first step.”

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