Caffeindicator
Caffeindicator is a product that does... well... pretty much what it says. Created by an entrepreneur from Mt. Joy, PA, Caffeindicator is a litmus test built into the paper of a sweetener package that, when dipped, indicates whether there is caffeine in the beverage.
The entepreneur wants to be clear with this product, it only indicates the presence of caffeine, not the amount of it. The idea that this entrepreneur has is to license Caffeindicator to an existing sugar packet manufacturer as a value-add to their product.
Caffeindicator is patented in a rare example of something that actually deserves a patent. The entrepreneur states that this product was worked on for eighteen years. Now that Caffeindicator is finished and ready to be marketed, the entrepreneur is in the Shark Tank looking for an investor that will bring the capital necessary to incorporate.
Even though Caffeindicator has no sales to speak of (and isn't even a proper business yet), it's a good enough idea that Kevin Harrington decides to invest. However, he wants to be an equal partner and receives 50% equity in the business that will presumably be set up. This also bites that value of the company in half to just $400,000.