Churchill Downs, the most famous of all, is known primarily for the Kentucky Derby, which is the center of the horse universe not just in Kentucky, but worldwide. It’s no surprise then that its logo reflects an awareness of this most obvious and deserved point of pride. It’s a tastefully sparse, clean graphic that conveys three things: The name of the venue itself, its iconic architectural twin spires, and the final element, the words “Home of the Kentucky Derby.” A quick look at Churchill Downs’s website further shows that they know what they’re all about. As of the time of this writing, the web surfer who comes across their site is greeted immediately with a scrolling selection of derby-centric photographs. Enthusiasts decked in traditional derby attire (ostentatious hats, garish jackets, and ties) cheer with drinks in hand (mint juleps, no doubt) as they bask in derby day delight. Another snap depicts the horses and jockeys themselves as they round a corner in this most famous of races. Links to purchase Derby tickets plaster the homepage.

According to Kentuckybred.org, Kentucky thoroughbred sales generate a yearly boon of more than $760 million for the state, with legendary horse racing and sales venue Keeneland responsible for the stallion’s share. This equates directly to $115  million in tax revenue alone, and a staggering $1 billion impact on labor income, for a  grand $2.7 billion value of industry production. On the recreational and tourism side of things, there are 14,600 Kentucky jobs that are at least related to the equine industry, while 5,828 of those are directly involved.  This equates to $209 million in quantifiable, monetary value added to the state of  Kentucky every year. 

Much like basketball, horse racing wasn’t invented in Kentucky, but it was refined here. And while a strong argument can be made for the undisputed greatness of hoops in the bluegrass state, it’s practically fact when it comes to horses. Kentucky’s renown for horse breeding and racing is second to none, and the numbers back it up. But first, how did this thriving trade come to Kentucky? What makes Kentucky uniquely placed to support such a kingly industry? Wild horses were introduced to North America by Spanish conquistadors over 500 years ago, and as such are considered a non-native species to the continent. However, it’s believed that long before all of this, wild horses (or a prehistoric version of the horses we know today) migrated away from North America millions of years ago, before the continents split. So the question of whether the horse is native to America or not is a topic up for debate.

Innovation and technology are a lot like the chicken and the egg. It’s hard to say what came first, there will always be a case for both sides, and now we need both to survive. Caught in the middle is the ever-changing landscape of intellectual property management. With the turn of the 21st century came the dotcom boom, which begets the digitization of virtually every aspect of society. As a result, the world today is smaller and more connected than ever, information is more readily and easily accessible than we could’ve imagined, and technology continues to rapidly advance. The impact of evolving technology is especially evident in the I.P. industry. From 3D printers and artificial intelligence to widespread automation, to increasingly sophisticated CRMs and business systems, the relationship between technology, innovation, and intellectual property protection has never been more urgent.

Believe it or not, one of the largest players in global economics and the geopolitical landscape recently empowered its businesses to claim intellectual property from whichever other countries it deems “unfriendly.” In March, the Russian government eliminated protections for intellectual property from a list of countries comprising the United States, the United Kingdom, most of Scandinavia, many Asian countries, and all 27 members of the European Union. Sanctions and isolations resulting from Russia’s invasion of Ukraine have crippled Russia’s technological production and innovation. The United States Patent and Trademark Office (USPTO) quickly announced that it would sever ties with its Russian counterpart, Rospatent, and related partners as part of these sanctions.

Although bourbon is not always featured in such explicit plot-related terms, it has become nearly ubiquitous, particularly in dramas, as a sort of interactive set dressing. After all, a glass of bourbon in a character’s hand looks great on film, and it gives them something to do during dialogue-heavy scenes. It can also carry with it an implied sense of surrounding gravitas, as alcohol, for better or worse, is widely seen as a stress reliever. Popular shows like Bloodline and Justified, or the Tarantino film The H8teful 8, feature heavy doses of characters sipping bourbon on screen as the tension around them builds.

In our previous, three-part series, Lessons From the Barrel: Bourbon and Branding (part 1, part 2, part 3), we observed the rapid jump in bourbon’s popularity since the turn of the millennium. If the year 2000 could be considered the foothill of bourbon’s current boom, then 2019 could be considered its peak… for now. International tariffs had put a dent in bourbon’s volcanic upward trajectory, and the seismic blow Covid landed on this industry (and most others), was a two-part combo that set the industry back. Although, even stumbling, bourbon as a worldwide entity remained triple what it had been back in 2000 before the boom. Fortunately, since many of the international tariffs have been at least temporarily lifted, and the world is slowly moving back to pre-Covid rhythms, bourbon is already starting to bounce back and will likely surpass its current peak sooner than later.

While bourbon production goes beyond the state of Kentucky (yes, it can be made elsewhere, but no, it cannot be produced outside the United States), the angel’s share of it (and more) resides here in the Bluegrass. As such, it is Kentucky’s crown jewel in both artistry and monetary return. Despite a growing number of craft distilleries popping up around the nation, 95% of the world’s bourbon is still made in Kentucky. According to the Kentucky Distiller’s Association (KDA), as of 2021, there were a total of 10.3 million barrels of bourbon aging within the Commonwealth, which is more than two barrels per person in the state. That’s more than enough to make for a great party. The KDA further states that production of bourbon has risen 360% since the turn of the century. If you’ll recall from parts one and two of this series, that’s about when the effects of the push for premium and single-barrel bourbons truly began to take hold.

Arguably the most iconic branding ploy in bourbon’s complex history is nothing more than a simple dip of red wax. The beautiful, shiny red seal that jealously protects Makers Mark bourbon under its cork, is itself famously protected with the intensity of a thousand angry lawyers. Not only has this branding move remained one of the most effective in the crowded field of spirits to this day, but it is also widely remembered as a crucial spark that would reignite the world’s burning passion for bourbon. Possibly even more so than the aforementioned emergence of Blanton’s single-barrel bourbon. Blanton’s itself has not rested on its haunches since establishing itself as a legend in the ’80s. Right out of the starting gate, Blanton’s added considerable horsepower to its visual identity by placing a gold horse and jockey atop every bottle’s cork. In 1999 they took this branding angle to the next level and introduced a collectible series of eight distinct horse and jockey designs, with each racing pair in varying positions to reflect different stages of the race. To boot, each stopper is outfitted with a single letter, so that when the collection is completed, they will spell the word Blanton’s.

Single barrel bourbon, bottled from one individual barrel, is now a staple of nearly every bourbon brand’s repertoire. The distinction between a single barrel bourbon and a blended one is vast. Bourbon’s color, and much of its flavor, comes from the barrel in which it is aged. As such, two barrels with the exact same ingredients (mashbill), barreled on the same day, aged in the same rickhouse, on the same shelf, could, and often do, produce wildly varying flavor profiles.

Your estate might not be worth hundreds of millions, but it is worth something, and it’s certainly worth a thoughtful and comprehensive estate plan. To properly complete your estate planning, it’s imperative to understand that your estate comprises everything you own, from real property, land, and vehicles, to cash, bank accounts, investments, furnishings, collectibles, and intellectual property of any kind. Once you identify each element of your estate, build and follow a checklist to ensure nothing is forgotten.

Two years after the COVID-19 pandemic began, Kentucky is showing strong signs of improvement, stability, and growth. Like many parts of the US, Kentucky saw an unprecedented economic downturn beginning in 2020 and lingering through much of 2021. Shutdowns, quarantines, and uncertainty led to record unemployment numbers, sharp declines in business revenues, business closures, and consumer pessimism. In 2020, unemployment numbers peaked at over 16% and workforce participation fell to nearly 50%. Overall, nearly 300,000 jobs were lost during the initial months of the pandemic. Kentucky’s GDP value, a metric showing the value of goods and services the state produces, dropped by more than 34%. Virtually every industry felt the negative impact, and the pain was especially sharp across the small business sector. Some businesses closed and never reopened. Two years later, however, the pain has subsided for most, and recovery and opportunity are prevalent.

Few states boast industries as easily identifiable as Kentucky. From bourbon to basketball to thoroughbreds to coal, the commonwealth is as rooted in culture and tradition as any state. But the real reasons for Kentucky’s idyllic business disposition are more practical, if also unique. It’s hard to say what region of the U.S. Kentucky belongs to because it is virtually right in the middle. Bordering seven states – only Tennessee and Missouri border more – Kentucky is within a day’s drive of 2/3 of the country’s population and consequently serves a 34-state distribution area comprising every major metro area east of the Mississippi River (and several to its west).

Among the many reasons that Kentucky is a unique business stalwart, as far as states go, is the simple fact that it is an attractive place to live. One of only four states to be recognized as a commonwealth, it may not boast ocean-front property or lots of big city frills, but its increasing population is testament to the many advantages it does offer. Between the 2010 and 2020 census, Kentucky saw nearly 4% population growth, more than a 1/5 of which occurred in the state’s central, Bluegrass region, largely attributable to three important characteristics: lifestyle, cost of living, and family.

Among the many reasons that Kentucky is a unique business stalwart, as far as states go, is the simple fact that it is an attractive place to live. One of only four states to be recognized as a commonwealth, it may not boast ocean-front property or lots of big city frills, but its increasing population is testament to the many advantages it does offer. Between the 2010 and 2020 census, Kentucky saw nearly 4% population growth, more than a 1/5 of which occurred in the state’s central, Bluegrass region, largely attributable to three important characteristics: lifestyle, cost of living, and family.

As the U.S. economy focuses on an enormous post-pandemic rebuild, the small business sector is thrust into the limelight. Small businesses are critical to the common cause of economic and employment recovery. For small businesses to contribute to economic growth however, individual businesses must find new ways to grow in ever-uncertain times. Consequently, it’s time to think outside the box, or at least view the box with a fresh perspective.

4 Things you Need to Do If You’re Launching a Business in 2022.

In the world of intellectual property, there are plenty of technicalities to wrap the mind around. Sometimes, though, the basics are just as important. Among the most important is the reciprocal relationship between intellectual property and innovation. Previous posts discussed things like patents, copyrights, and trademarks as critical components to effective I.P. protection, but the upshot of these is the need and value of innovation. Innovation impacts consumers, promotes fierce competition, and, as we’ve seen through the years, has the ability to change the world.

It is easy, and all too common, for business leaders to fall into the trap of viewing a brand as merely a creative or attention-catching component of the business. While branding certainly provides those opportunities, it is much more than colorful patterns or clever designs. A brand exhibits a business’ personality and character. It showcases culture, purpose, and values. Ultimately, branding communicates a business’ identity, and is often the consumer’s first impression. We all know what they say about first impressions, so here are a few reasons branding is actually a critical piece of the business, and why it is even more critical to protect it.