Time to name your company's latest breakthrough product or technology? If so, you might already be planning steps like locking the top minds of your company in a conference room with a clean white board to see what develops. Or holding a company-wide naming contest with a $100 gift certificate to the winning entry.
Well, before you take the plunge, remember to consider the following three key issues carefully. Taking the time up front to define and manage your naming process effectively can save you a lot of time and money down the road:
- How important is it that the name be legally protectable? Category-styled names such as 'network computer' or 'potato chips' and 'lip gloss' are more 'generic' or 'descriptive' than other more 'suggestive', 'arbitrary' or 'fanciful' styled names such as 'Revlon', 'Intel' or 'Yahoo'. Generally speaking, when names are more generic and/or descriptive, they are less expensive to establish in the marketplace but also less protectable legally. Figuring out where your name should be along this strategic continuum is one of the most important steps one can take in any naming process.
- Should we trademark the name? Applying for a trademark or service mark can be an expensive proposition but, on the other hand, you may be penny-wise and pound foolish to avoid this highly leveragable investment in your company's brand.
- Should the trademark also have a logo? While it is often the case that a logo may be designed for a trademark name, it is certainly not required or necessarily even advisable. The question of whether or not you need a logo for your trademark should be considered carefully, from the marketing, legal and financial perspectives.
When you're ready to start the process of naming your company, product or technology, call Satow Strategies at info@satowstrategies.com or 602-481-1942 and we'll help guide you in your trademark strategy, name development and logo planning.
© 2005 Satow Strategies, LLC.
