Trademark and its importance
Anything which helps you distinguish your brand from others can be a trademark. Trademark is an intangible asset for the business. Many corporates have started understanding the benefits of brand protection. Brand dilution leads to a huge loss of revenue and goodwill of the company. Thereby registration of the brand as a trademark has become vital for brand protection. However, mere registration of the trademark does not suffice. For brand protection, just registration per se is not immune from infringement. Hence brand owner needs to continuously monitor the registration of deceptively similar marks. Precaution is the key to protect your IP portfolio due to wide brand imitation.
The Trademark Registry publishes every week an 8000-page trademark journal with approved marks on the website of Intellectual property office (IPO). If the “Approved mark” is “identical” or “deceptively similar” in any form to the earlier trademark an opposition should be filed within 120 days.
Analyzing “Trademark Journal” every week to detect the conflicting mark with deceptive similarities is commonly termed as “Trademark watch”.
Click Here to find out how AI-powered “Mike TM Watch” provides the fastest and most accurate service for “Trademark watch”.
A trademark watch is essential for the protection of a company’s brand from potential infringement. There is no other option but to scan through the journal for potential infringements. Imagine this tedious task is to be done for all marks in 45 different classes in the journal. Manually searching an 8000-page journal by different permutations and combinations of marks every week is excruciating. Calculating the cost involved for man-hours, this needless activity has a lasting impact on service to the client.
Besides, trademark watch is extremely important for law firms as it is a direct revenue-generating activity. Any opportunity missed on notifying similar marks to the client is not just bad client servicing but also the potential loss of revenue.
Human errors are bound to occur in manual trademark journal watch!! What to do then? Automated analysis using the advanced algorithms created by MikeTM Watch with accuracy can reduce mistakes. This will result in better utilization of the time and resources while ensuring that the quality of client servicing stays top-notch.
AI-powered Trademark watch
Advanced algorithms created by MikeLegal have eliminated the age-old manual process. With cutting-edge technology MikeTM Watch is able to identify identical and deceptive similar marks and then it arranges all the potential infringements in descending order to ensure you see the most likely oppositions on top. Also, the analysis of trademark journal is done across 45 classes. AI generates a report within a few hours from the publication of the trademark journal. This creates alertness among users about the potential threat to their trademark. Currently, a lawyer has to make such a report manually after spending hours to days. MikeTM Watch users are able to make such reports with accuracy and precision in a fraction of time.
The access to the cloud-based dashboard is provided to watch the trademark journal 24*7. Users have the accessibility to customize and filter their analysis anytime, anywhere through the cloud-based dashboard.
Various algorithms are created to suit the needs of the user. Moreover, users can also notify the system about the relevant classes to watch and the key elements of the mark to be analyzed to ensure that the results are as per their requirements. The analysis is customized through the dashboard according to the specific requirement of the user. Users can also filter the analysis by multiple filters such as class, trademark type, date of usage, and infringement type. Within a few seconds, this report can be shared with their clients.
Boon of early detection
By speedy detection of a conflicting trademark with precision and accuracy, timely action can be brought against conflicting trademarks. Owners can enforce their legal rights against the conflicting mark within 120 days from the publication of the trademark journal. Thereby, preventing third parties from diluting their brand.
Selvam and Selvam’s views on MikeTM Watch: “We have been using MikeLegal to help analyse the infringements faster for the weekly trademark journal. Adoption of MikeLegal has helped us in reducing the time spent on going through the journal and get better discovery of infringements to ensure better protection of our clients’ rights. If you are looking for an IP management solution or a trademark search solution check them out at http://mikelegal.com/ ”
Is MikeTM Watch complicated?
Using MikeTM Watch is plain and simple. Trademark journals can be analyzed in a few simple steps.
Step 1: Share your application number with MikeLegal.
Step 2: Automatically AI algorithm will analyse your portfolio mark to marks published in the journal across 45 classes, if needed, customize your reports using a filter on the dashboard (Class, trademark type, infringement type).
Step 3: Check the analysis on the dasboard and create reports to share it with your client or colleagues.
MikeTM Watch can help you protect the goodwill of business by preventing brand dilution. The analysis by MikeTM Watch with accuracy reduces the infringement by 80% and increases infringement detection by 50%. Besides, it is also very cost-effective. You can also read the case study which we did with Chadha and Chadha, IP attorneys on their experience of using Mikelegal.
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