TLT prepares Tru Tension for Dragons' Den success
TLT advised Chris Frappell, founder and managing director of Tru Tension, on the completion of a £75,000 investment from retail entrepreneur Touker Suleyman, as featured on BBC's Dragons' Den on Sunday 11 February.
Tru Tension is an innovative manufacturer of must-have tools and care products for anyone in the motorcycling and motorsport industry. By providing a precise amount of tension every time, its tools and lubricants ensure optimum performance and extend the life of chain, belt and sprocket sets, providing the highest quality of care for moving components.
TLT advised Tru Tension on how to maximise its most valuable assets including its global intellectual property portfolio. TLT strengthened the ownership structure of Tru Tension's international patents and trademarks to reduce the risk of infringement, thus reassuring prospective investors that its products are unique in the market and the company's growth prospects are unfettered from intellectual property risk. TLT also advised Tru Tension on how to gain the most from its investment and negotiated the terms of the deal.
The TLT team included partner Jon Gill and legal director Jo Pritchard, solicitor Nicole Spurling and legal assistant Dan Akers.
Chris Frappell, founder and managing director of Tru Tension, comments: "I am over the moon to have secured this investment. Stepping into the Den was terrifying, but I have worked hard to build a unique and innovative business and I am grateful to TLT for their clear and expert advice, particularly with regard to strengthening my intellectual property portfolio."
Jo Pritchard, legal director at TLT, comments: "Intellectual property is a valuable asset for any business, but especially a young company looking for equity investment. Equity investors are attracted to businesses that find a niche in the market and that then protect their innovation with patents and trademarks. This protection gives the fledgling business the best possible opportunity to commercialise its innovation without competition from copy cats.
"Protecting your intellectual property is becoming even more important as markets are increasingly globalised and competition can come from all over the world. Chris did the right thing – assessing the risks and addressing these early on, and it's great to see that this has paid off."