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How is Mushroom something you can put (r) after?
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Well, how is "Windows"?
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A trademark sets your brand apart from competitors. If your competitors are other brands of mushrooms, then "Mushroom" is too broad. But if you're trying to distinguish yourself from other brands of packaging, it might work.

If it got litigated and I were the judge, I'd be concerned they were trying to abuse trademark to get patent-like protection. In the narrow packaging market, another mushroom packaging competitor would have trouble talking about its product without mentioning the word "mushroom" and drawing the ire of Mushroom™ lawyers.

Disclaimer: lawyer law blah blah

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Some mushrooms, like many oyster species, are saprotrophs and will grow on just about any waste organic material with enough cellulose.
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Certainly dung. A common substrate for growing mushroom is a straw or shredded wood depending on the species plus manure.
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Not certainly. A LARGE number of fungi grow just fine without manure. I think this is a common misconception since agaricus bisporus (portobello, bella, white, cremini, button) need it to grow well, and it is the most commonly human-grown fungus by a long shot.
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Most commonly grown? What, no love for yeast?!
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Ahh, true. Didn't think about that one.
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It says it is the woody core of hemp.
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Sounds like a thing you could just make paper and cardboard out of directly...
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The hemp is part of the finished product, so its probably intentional they picked something so fibrous.

Per the webpage: "The mycelium binds the agricultural waste together, so it can be baked into durable protective packaging"

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