LES: A New Chapter in Indiana

We are proud to announce that our very own Associate Director of Pellegrino & Associates, Tejas Shah, has launched a Licensing Executives Society (LES) chapter in Indiana! This is great news for professionals interested in all aspects of licensing intellectual property. With more than 50 years of history, LES provides a host of valuable information necessary to promote IP commerce. As an independent, professional organization, LES offers an inviting platform with experience and opportunities to expand member knowledge of technology transfer and licensing. Click Read More to learn about the benefits LES provides and why an Indiana chapter is the perfect addition to this prestigious organization.

Indiana is home to a considerable number of IP-driven organizations, ripe with IP professionals. With these resources, an LES chapter enhances the success of organizations by serving as a platform for IP and licensing professionals to network and grow professional bonds between IP-driven organizations within the state. LES provides a host of benefits and opportunities including education, best practices, standards development, networking, participation, mentoring, and certification, among others. Strategic goals of LES include demonstrating thought leadership, delivering personalized value, and designing meetings for enhanced business value.

Types of organizations that make up LES membership include corporations, law firms, consultants/service providers, universities/government, entrepreneurs, and students. Globally, the LES membership directory boasts nearly 9,000 professionals.

For the recent addition of the Indiana LES chapter, we would like to introduce chapter leaders:

    • Tejas Shah, LES Indiana Chapter Chair, Associate Director, Pellegrino & Associates, LLC
    • John Routon, LES Indiana Chapter Director, Attorney, Barnes & Thornburg LLP
    • Scott Simmonds, LES Indiana Chapter Advisory Council, Partner, Barnes & Thornburg LLP
    • James McGee, LES Indiana Chapter Advisory Council, Senior Director, Corporate Business Development, Eli Lilly and Company
    • T. J. Cole, LES Indiana Chapter Advisory Council, Partner in the Litigation and Intellectual Property Group, Ice Miller LLP
    • Dennis Abbot, LES Indiana Chapter Advisory Council, Director of Global Business Development, Cook Biotech

As you can see, the LES Indiana chapter board offers expertise from a variety of backgrounds. The board welcomes everyone at meetings. For more information on LES, check out the website at https://www.lesusacanada.org/. For the LES Indiana chapter specifically, check out the following link: https://www.lesusacanada.org/group/IN. Be sure to catch the next meeting at Barnes & Thornburg on March 10 from 5:30 p.m. to 7 p.m. Location is 11 S. Meridian St., Indianapolis, IN 46204.

Olympic Mishap Affects Brand Image

The Olympics can bring much fame to athletes, especially to those who score medals. Ryan Lochte is such an athlete. He is one of the world’s most famous swimmers, earning 12 medals in the Olympics with six gold, three silver, and three bronze medals. His earnings make him one of the most decorated swimmers in Olympic history. All of this bodes well for brand image. However, Lochte’s actions while at the 2016 Olympics affect his brand image differently.

Brand image is all about perception. Consumers choose brands based on good experiences with products or people. If a brand touts that it is superior to other brands, and consumers find that this is true or believe it to be true, they continue to trust that particular brand. However, when a product fails, consumers begin to question its validity and seek another brand to take its place. This is why it is important for celebrities, such as Ryan Lochte, to maintain a good image.

At this year’s Olympic games, Lochte made up a story that made national news. Later, he confessed to embellishing the story. This leaves the public questioning his validity, making it harder for them to support him. Therefore, Lochte lost four major endorsements from Speedo, Ralph Lauren Corp., Syneron-Candela, and Airweave. Companies notoriously drop celebrities for bad behavior as they do not want to be associated with it or appear that they condone it. If they condone the bad behavior, then the public is likely to question the companies’ choice in a spokesperson, making it more likely that the public will choose other products in disagreement.

Therefore, Lochte’s actions affect his own brand image, making him less marketable. While he has earned many awards, people often remember other people more for their misdeeds because these come more shockingly. Thus, Lochte may be a decorated swimmer, but the shock value of his misdeed may harm his brand image for years to come. However, some celebrities overcome misdeeds (e.g., Tiger Woods, Michael Phelps, etc.) and eventually recover. Yet, this takes time. Ryan Lochte may have a bit of a break as he is slated to compete on “Dancing With the Stars.” This highly popular show will keep him in the limelight, for which he must be on his best behavior in order to redeem himself. Further, Pine Bros., a cough drop company, recently endorsed Lochte, claiming that the corporate world is too reactive and harsh.

Time will tell the damage to Lochte’s brand image. For now, he gets a few lucky breaks, but he doesn’t completely escape the havoc already done to his image. Perception is everything to a brand.