Creating wealth one lawsuit at a time:
A Winnipeg cardboard factory worker has secured a deal with two reality show entrepreneurs.
Richard Abramowicz was a contestant on the Dragons’ Den show, where inventive sorts seek backing from established entrepreneurs.
Abramowicz tried to interest the panel in a line of fashion clothes he had developed under the brand name Yomama.
He asked for a $3-million investment.
There was interest, but not in the clothes.
Instead, two panellists liked the Yomama brand name, which Abramowicz has trademarked in Canada and the United States.
The name is already in use, but without Abramowicz’s permission.
“I guess it’s the old case scenario of the big guy [versus] little guy,” Abramowicz explained. “The big corporation and the little man that can’t fight them on his own.”
Millionaires Kevin O’Leary and Robert Herjavec said they would pursue trademark infringement lawsuits as partners with Abramowicz.
They offered him just $1 for a one-third share of his company, and a similar share of any compensation that flowed from successful court action.
Abramowicz took it.
He added that if the gambit pays off, he’ll put the money into his clothing line.
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