The untimely demise of fashion designer, Kate Spade, serves as a reminder about personal success and the intricacies of personal life; never take either one for granted.
Kate Spade’s entrepreneurial acumen helped pave the way for many other women and men, to “go solo” against the establishment of large corporations, seeking professional success.
The fact is, that Kate Spade – the brand – was separate from Kate Spade the designer. She transferred the intellectual property and trademarks to her company, long before it was sold. The company’s marks became an integral part of the products sold under that name.
That intellectual property included her own name, an entity so personal that eventually, Kate Spade legally changed her own name to Kate Valentine Spade. By re-inventing herself, despite not feeling pressured to do so, she was able to shed the old brand that matched her name, and avoid certain restrictions related to the brand’s sale.
After the sale of the Kate Spade brand, she relaunched as Frances Valentine.
When your name is your personal brand, as in the case of John McAfee for example, selling products under that brand can create a duality that you might be uncomfortable shedding later on. Of course, never underestimate the power of money, particularly when large sums of it is involved.
It’s prudent, however, to create products and services under a distinct brand that can stand its own ground, both for legal and practical reasons.
By doing so, you’d avoid the pitfalls of signing complex agreements involving your given or assumed name. You’d be able to continue in the same field, potentially, using your name without restrictions.
Additional reading: Kate Spade, John McAfee.
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