Do you ever feel like the resident stick in the mud?
Your marketing department enthusiastically comes up with a million name ideas.
They narrow it down to their top three or five before handing them over to your legal team.
At which point, you feel the need to say, "Are you ABSOLUTELY sure?"
How Legal Teams Can Reduce Trademark Search Costs
Every in-house team struggles with it: How to effectively communicate the astronomical costs of the trademark search services you often rely upon to other departments.
And it can feel daunting, always having to be the person who brings things "back to reality." But many team members are completely unaware of the complexities involved in the trademark search process.
Sure, you would like to do everything internally, but that isn't always possible. Especially when some projects require hours of tedious information assimilation. When outsourcing trademark search projects, legal teams typically have four options:
Traditional Search Options
- Free Government Databases
- Search Vendor Subscriptions
- Search Vendor Outsourcing
- Law Firm Outsourcing
Unfortunately, none of these are ideal.
For the remainder of this article, we'll assess the problems legal teams often face when trying to stay within budget and what to do about it. Feel free to pass this along to your team members or scroll to the bottom to learn about the "hidden fifth option" that will have your organization's creatives dancing in the hallways.
Problems With Traditional Search
1. Lack of Flexibility
As you know, it's not enough that no one else is using your mark candidate. Several other factors must be considered. Duplicitous meanings in foreign cultures, similar forms, and app technology usage are just a few of the aspects involved in performing a comprehensive search.
While free databases like PTO, TESS, WIPO, and EUIPO have accurate information, they lack the functionality needed to paint an entire picture—which is why legal teams turn to vendor subscriptions and search outsourcing. As hinted at above, each option contains its own shortcomings.
- Vendor subscriptions are "data dumps" that still require team members to do the heavy-lifting.
- Law firms routinely turn around results within a week (and are VERY expensive).
- Legacy search providers require you to purchase complete packages upfront.
Since most legal teams rely on legacy search, we will focus on it for the remainder of this article.
Despite best efforts to initially purchase appropriate search options, there will always be instances where more help is needed as projects evolve. Which brings us to problem number two...
2. Running Budgets
Price agreements are often made in advance, based upon predefined parameters. Meaning, if your most desirable candidate gets the ax, your budget could swiftly begin to climb.
Search additional names outside initially agreed upon parameters and you will be charged "a la carte." Billing anywhere from 50 cents to $2 per result is not uncommon.
The problem? You have no idea how many results your candidate will generate. If your name pulls up 1,000 search results at $2 per entry, that will cost you $2,000 (even if half the entries were found to be completely irrelevant).
Obviously, these kinds of numbers put an enormous amount of pressure on everyone to "get it right" the first time. But there is now another option...
How to Reduce Trademark Search Costs (with even better results)
Legal teams can now reduce search costs and time requirements by conducting their own risk analyses with technology-assisted search software.
TrademarkNow combines the accuracy of traditional legacy providers with the DIY nature of traditional online databases into a user-friendly platform powered by a unique algorithm designed to evaluate word linguistics, product type, and jurisdictions.
The best part? Ranked assessments delivered in 15 seconds.
These should always be vetted with your team's expertise, however, the quality and speed of the results provided can eliminate several days worth of work.
TrademarkNow Reduces Cost In Four Ways:
- Unlimited global search
- Unlimited watching of your assets in one repository
- Unlimited watching of competitors' assets in one repository
- Unlimited access to common law sources, Internet domain availability and critical word meanings in more than 166 languages
All for one flat fee.
Essentially, technology-assisted software allows your team to do what legacy search professionals do in less time and for less money, literally saving your legal team thousands of dollars per search.
Ready to learn more?