Legal Tech & The Pharmaceutical Trademark Clearance Challenge
Not all trademarks are created equally and this is particularly true in the case of pharmaceutical trademarks. While all potential trademarks face similar challenges in development and registration, there are some unique issues facing those developing new brands in Class 5.
It is always a case of starting with a larger list of potential names and then whittling it down to more manageable proportions by a variety of methods. In the pharmaceutical industry though, that 'larger' list can achieve some truly awe inspiring numbers.
Initial lists of potential candidates numbering in the thousands is not unusual, and it is often down to both the marketing and legal teams to find a time and cost efficient method of weeding out the 'no hopers and also rans! The remaining (and far from small) list can then be put forth for preliminary screening to filter down further. But what if you could incorporate an instant preliminary screening right into the brainstorming and name generation process in the initial stages?
Skipping the creation of a giant list which now needs a number of processes applied can save a phenomenal amount of time and re-handling of names that were never viable from the outset. And in circumstances where that instant preliminary screening can find impediments across every desired region simultaneously, you can solve two key issues in one easy swoop.
Commonly, a business will begin the search for a potential new brand name domestically first. Depending on the industry, the regions across which they do business and the goals of the company, they may then expand that clearance outwards to other regions for their key candidates. This, however, is not the case as it relates to trademarks for pharmaceutical products.
The final chosen brand name should be registrable and available for use across as many regions as possible. This is desirable for many reasons but amongst them are regulatory requirements. In Europe, for example, the European Medicines Evaluations Agency (EMEA) process for the approval of a new product relies heavily on the ability of the product to carry the same name throughout the European Union..
Combined then with the sheer volume of potential candidates needing screening, the range of regions across which this must be done creates an intimidating and expensive workload for trademark professionals in the pharmaceutical industry.
This is where advances in legal technology really come into their own. The ability to clear a potential brand name across a large number of regions simultaneously and within seconds can dramatically reduce the workload, expense and time burden across the entire project. When those results are ranked and analysed in order of threat level, taking into account the additional regulatory requirements and extra sources of data, the end result is game changing.
No trademark clearance search can ever be considered to be exhaustive but there are a number of critical additional data sources that must form a part of every clearance search involving pharmaceutical trademarks. The ability of intelligent legal technology to combine data from these multiple sources and instantaneously provide analysis of the various component parts individually and together can transform a naming process from one requiring months to days.
Reducing the costs
The expenses related to the screening and clearance of vast quantities of names over substantial numbers of regions is difficult to both quantify and convey. Pricing packages that provide intelligent, labour reducing clearance that is unlimited by either volume of searches or region can create a predictable, transparent annual cost. Not only does this assist in terms of creating clarity internally around the costs of such projects but it supports trademark professionals, both in-house and in private practice to achieve the elusive business partner status. Being able to meet whatever branding needs are required within tight timelines and never requiring additional budget (for clearance at least!) is a key benefit that makes investigating your options even more attractive.
So where do you start to explore those options?
Join ourPharmaceutical specific online demonstration of the TrademarkNow platform and see how it can be used to support a company operating in the Pharmaceutical industry in every stage of product development related to trademark matters - from research & development and business intelligence to trademark clearance and brand protection.