Trademark research and risk assessment are essential to successfully launch a new brand. When IP professionals provide fast and accurate answers to critical launch questions, they not only help brand owners make more confident business decisions, but they also become invaluable strategic partners.
Launch new brands on time while mitigating commercial risk
The market is saturated with more brands today than ever before. Over the past decade, trademark filings have increased globally from fewer than four million filed in 2011 to over 13 million filed in 2021. In other words, the number of new brand names attempting to enter the market has grown exponentially.
IP professionals, whether in-house or within a law firm, face a challenging task when helping brand owners launch a new brand. Product and brand managers are focused on creating brands that stand out against an over-crowded market while meeting tight go-to-market schedules. IP professionals are tasked with securing the right brand name while simultaneously ensuring the company takes on the least amount of legal and brand risk.
When these two teams do not work together, the costs can be devastating. After devoting years of research and development to create a new product, struggling to find a trademarkable brand name can stall even the most well thought out go-to-market plans. Product delays can cost a company up to 15-35% of the Net Present Value and decrease shareholder value by about 12%.
Incorporating brand research and risk assessment into go-to-market planning earlier in the process can help mitigate costly delays. However, understanding how to do this in an efficient and manageable way is not easy.
Clarivate™ heard this challenge and dedicated extensive research and development to build Clarivate Brand Landscape Analyzer. This new trademark and risk assessment solution enables IP professionals to help organizations overcome the complexity of launching a new brand while mitigating commercial risk. Clarivate Brand Landscape Analyzer helps trademark attorneys, paralegals and legal counsel in three key areas.
1. Assess brand and legal risk across multiple dimensions with one solution
Traditionally, IP teams rely on fragmented tools and processes to complete brand research and due diligence. Trademark screening and searching is often conducted through one solution while an entirely different resource is used to research case law and litigation trends. On top of this, IP professionals regularly rely on manual research efforts to glean insights into competitive intelligence and in-use evidence of similar existing brands on the web.
89% of trademark professionals view the integration of case law data and trademark data as important.
Source: The Trademark Ecosystem, Clarivate, 2020
IP professionals need a solution that combines global data from these vital sources across trademarks, case law, competitive intelligence and more. Brand Landscape Analyzer does just this. Within the cloud-based platform, IP professionals can search for similar brand names or trademarks and within minutes view results, including:
- trademark filing information
- verbal similarity
- case law prediction scores
- brand owner information
- litigation history of the brand and the owner
- automated in use checks
- the geographic presence of the brand name.
2. Receive timely, accurate results to determine brand name viability in step with go-to-market schedules
With millions of possibly conflicting marks in the market, sorting through the volume of results in trademark screening and searches is becoming increasingly time consuming for IP professionals. Over half of trademark professionals say that too much data is their most significant challenge when clearing a mark. This is followed by an overwhelming lack of time, resources and proper tools to navigate the search process with confidence.
However, advancements in technology, including machine learning and artificial intelligence (AI), can offset the increasing volume of trademarks by filtering and sorting through the noise to pinpoint the results that matter most. This allows paralegals, attorneys and counsel to gain more control over their searches, confidently navigate complex data, prevent information overload and reduce manual effort without compromising on accuracy.
Clarivate developed Brand Landscape Analyzer by using cutting-edge AI technology to learn and apply the deep IP expertise of our in-house analysts to intelligently prioritize results. Our AI fuels the scoring mechanisms that help IP professionals focus on the most critical search results.
Instead of taking days to screen or search a potential trademark, IP teams can accomplish this in a matter of hours and provide accurate advice on brand name viability in step with go-to-market schedules.
3. Confidently deliver actionable insights while elevating the value that IP professionals provide
Often, the importance of assessing and protecting brand assets can be overshadowed by pressing business needs and competing points of focus. High numbers of professionals report that their organization could not take up trademark-related business opportunities, such as licensing or moving into global markets and partnerships, because top level management was not engaged.
Evaluating the viability of a new brand name is only part of the value that IP teams can deliver to brand owners and the larger organization. Leveraging a wider range of connected data, IP professionals can also provide insights into commercial risk in addition to legal and brand risk.
With innovative solutions, such as Brand Landscape Analyzer, IP professionals can maximize the impact of their work for their business. A multidimensional assessment of risk factors, supported by clear data visualization, provides IP professionals with a powerful tool to inform go-to-market strategies and demonstrate additional value to the organization.
Contact our team to learn more about Brand Landscape Analyzer.