Igor recently reposted one of its articles on whether SLACK would make it through your company’s naming process. As mentioned in the article, the word “slack” has a lot of negative connotations, but for a company willing to take some risk and position the word the right way in the marketplace SLACK could be a great name.
Likewise, in the trademark protection arena, you have to approach trademark clearance with a clear, no pun intended, sense of self. If you are very risk averse to disputes, then the trademark clearing part of the branding process may take longer than you think or expect. If you embrace risk, then you may be done searching after one search. This is not a black or white decision, and your company’s situation may dictate that you take more or less risk for any given product or service. Here are some good benchmarks for when to be conservative and when to take some risk:
- When you have prioritized branding as a task and start the process early in the life of a product, service, or company. You have the luxury of taking more risk because the cost to change to another mark is likely less expensive if you are wrong with your first choice.
- Conversely, when branding is last or close to last on your list, then you should be more conservative because it will be a more costly mistake if you get it wrong.
- When you notice a well-known brand being phased out, then you may want to be more aggressive to adopt the mark before someone else does.
- If your company’s budget does not allow you to get in a dispute, then you should be more conservative at the search stage.
- If your company is engaged in franchising or some other licensing program, you should be more conservative because you risk losing more if you would lose the mark.