Innadvertently infringing on another organization's registered trademark, can lead to customer confusion and years of costly litigation.
For brands who own existing trademarks, protecting your product and intellectual property against theft can be critical to your revenue and public image. Trademark clearance is an important component of modern business. Marketing and legal professionals are often called upon to search for registered trademarks to protect their employers and clients. Join us as we review why trademark clearance matters and share with you how to minimize the manual work and risk that is often associated with these processes.
Minimizing Manual Work in Trademark Search
While attorneys with a background in trademark law are often the ones who perform trademark searches, they're not the only ones. Paralegals, marketing professionals, and other brand management personnel who need to manage a brand's global presence or make decisions when naming new products or services, must also go through the process.
Trademark search has historically been a lengthy-process, filled with risk and opportunites to make mistakes . For brands with limited resources, the sheer time of expert hours required to effectively execute a trademark search can be incredibly costly.
How Legal Technology is Revolutionizing Trademark Search
The era where trademark search is a labor-intensive process could soon become a thing of the past. Artificial intelligence and technology assited algorithms, have the potential to search, rank, and analyze a massive amount of information quickly and with better accuracy than human-guided research efforts.
By using technology assisted searches to survey the worldwide marketplace, it's possible for individuals without an extensive background in trademark law to search, score, rank, and understand the true risks of the marketplace. Best of all you can have the ability to significantly reduce the time necessary to achieve high-quality results.
Minimizing Mistakes with Search Software
Nobody wants to suffer an infringement action. Searching mistakes made by manual efforts or poor-quality trademark search tools can result in unintentional infringement, which can cost hundreds of thousands in litigation fees and years of efforts to defend.
In addition to a high volume of manual work, common mistakes associated with many search software options or manual efforts include:
- Poor quality results that don't inform decision-making
- Incomplete knowledge of the global marketplace
- Failure to mitigate risks because of inaccurate risk assessment
- Incorrectly summarized results because of result quality
Simple results based on keyword similarity and wildcards aren't enough to protect your organization.