Creating new trademarks implies investing both time and money in establishing lasting values.
Most people are not aware that the price can double or even triple if thorough preliminary investigations are not performed.
The process should be carefully administered, in order to avoid pitfalls and to prevent waste of valuable time and means.
Creating new trademarks is much more than just “thinking of a smart word”.
In short, the process can be divided into 6 steps:
1. Define the product or service for which the trademark is to be used
2. Define your competitors
3. Brainstorm - create new trademarks
4. Check whether the chosen trademark is protectable
5. Check if the trademark infringes older/other rights
6. Protect the trademark.
Unfortunately, many people skip points 4 and 5 during such a process, and because of this, it might turn out at a later point in time that the process has been wasted and that the time and money invested is of no use.
Especially skipping point 5 – not making preliminary research to prevent infringement of older rights, can turn out to be quite expensive and in the end result in the trademark not being usable. In worst case scenario, you may risk a lawsuit for having infringed other people's rights.
To minimize the risk of future conflicts and to save money and time during the brainstorming process, we find it crucial that the question and assessment process is done at an early stage.
At Larsen & Birkeholm A/S, our consultants have vast experience in advising companies in connection with this process. If your company is considering investing in new trademarks, you are welcome to contact us for a custom-made proposal for guidance throughout the process.