Starbucks CEO Kevin Johnson speaks throughout the business’s yearly investors fulfilling at WAMU Theater, on March 20, 2019 in Seattle, Washington.
Stephen Brashear | Getty Images
Starbucks submitted an application with the U.S. Patent and Trademark Office previously in June for the right to utilize its name on an arena or training centers.
If authorized, the coffee giant might sign up with the similarity FedEx, Little Caesars and Barclays as a business sponsor of an arena or arena. Companies want to pay out huge dollars for the brand name awareness and fan commitment that can be stemmed from a prominent location with the corporation’s name. Last year, Amazon supposedly invested $300 million to $400 million on the rights for an arena in Seattle, now called the Climate Pledge Arena.
A Starbucks representative stated the business has no more information to share beyond the June 2 filing.
According to the filing, Starbucks is looking for approval to utilize its name to promote the “business, sports and entertainment events of others” and supply “stadium and training facilities for sports and entertainment activities.”
Trademark lawyer Josh Gerben kept in mind the filing on Friday on Twitter, stating this is how a business would submit a hallmark application if it’s looking for the identifying rights to an arena.
Shares of Starbucks were approximately flat in early morning trading. The stock has actually increased 5% this year, providing it a market price of $132 billion.