The contestants are screened to see if they have criminal records, AND, if they own the actual business or domain that they are pitching. The reality is that a lot of people do not know market share, the cost of prototypes or have great business plans. Shark Tank allows people to come onto the show and pitch in that exact format! Naturally, that is apart of the entertainment, as well as the education. If you don’t know your own business, you will sink.
Good Luck & hope to see you soon on the show!