Constant innovation and being first to market are said to be among the primary ingredients to business success. Markets are fickle and are always seeking the “new and different”; traditional seasonal cycles no longer exist; and more often, businesses are refreshing their portfolios with new brands and even offshoot businesses.
There’s little surprise then that rapidly moving businesses are tempted to use the lowest cost trademark search solutions out there to name and brand their ventures. After all, screening and clearing a trademark can be a costly process. Yet, relying on suspect search results to determine a new product or company name can ultimately be more costly.
Even some commercial do-it-yourself trademark solution providers that claim high quality content and results can ultimately lead to significant risk to brands and businesses. Although we have empirically known this to be the case, it has been difficult for us to demonstrate. Until now.
After a series of head-to-head tests, we have proof that TM go365™ Word Searches provide more relevant hits, more accurate rankings and broader global trademark coverage by using sophisticated machine-learning algorithms.
While TM go365 found 100% high risk trademarks, its leading DIY competitor found only 59%. In other words, its competitor missed 41% of high risk marks, significantly increasing any user to risk.
High risk trademarks are defined as “where the mark is likely to be a serious obstacle to securing a new trademark.” A business can expect significant difficulties if this mark is cited against an application or if the owner takes action to stop the application. Legal processes are invariably expensive and unlikely to end successfully.
Meanwhile, whereas TM go365 found 83% of medium risk trademarks, the competitive solution found only 43%. These marks are potentially a problem but strategies could be employed to lower the risk of a failed application and achieve registration with some concessions.
Finally, when it came to low risk trademarks, TM go365 found 78%, whereas the competitive solution only found 23%. This is where the identified mark has some similarity to the searched mark so it is worthwhile flagging to the brand owner. However, it would be unlikely to be an obstacle to registration.
On the whole, 61% of relevant results were missed by the competition – a discovery that suggests that the risks of using such a solution are too high. Many free or less expensive tools don’t rank trademark results, so users still have to manually review everything to find high risk results. Tools built specifically for this purpose rank results and present them in logical order to make the review process fast and simple.
TM go365 is the only trademark research solution for both word and image marks that offers the speed, convenience and simplicity of online self-service, together with clearance-grade results. As these statistics show, other do-it-yourself solutions miss critical findings due to their limited capabilities and data sets. They might appear to save you money, but can end up causing considerable expense further down the line.
For more information, go to TM go365.