For those who haven’t seen or heard of it yet, Shark Tank is an ABC reality television series in which entrepreneurs pitch investment proposals to a panel of five wealthy and feisty ”sharks” — including these independent and successful investors: Robert Herjavec, Barbara Corcoran, Kevin O’Leary, Daymond John, and Mark Cuban.

Shark Tank’s third season began last month, and my boys convinced me to watch Episode 301 with them this past weekend — I’ll have to admit I was more than a little entertained.

Because intellectual property issues can play such an important role in sizing up a business plan and investment opportunity, as you might imagine, the show includes many references and questions about whether the entrepreneur has procured any exclusive intellectual property rights to support the business plan. The problem, of course, for those of us who enjoy probing the details of any claimed intellectual property rights, is the limited amount of time devoted to any meaningful due diligence of the claimed rights.

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