New Report: Implement Successful Biopharma Trademark Strategies

CHAPEL HILL, N.C., Apr. 22, 2022/PRNewswire/ -- Biopharma trademarks are cornerstones in building a winning brand and therapeutic area franchise. However, many new products seem to reflect haphazard trademarking strategy and execution across the global markets a company supports.

According to Best Practices, LLC’s benchmarking research, multi-pronged approach is best for testing tradenames:

• Most organizations use legal screening (100%), linguistic research (91%), name safety market research (82%), and creative market research (64%) to test tradenames externally.
• Internally, more than 2/3rd of companies use co-creation and existing creation trademark analysis.
• Vendors are involved on a case-by-case basis for trade name generation.

The 37-page report titled “Building Winning Trademarks and Trade Name Operations in Biopharma” distills winning strategies, structures, and approaches to the overall trademark evaluation and registration process at leading pharmaceutical and biotech companies.

Key topics in the report include:

• Trade Name Generation Process
• Use of Name Banks/Libraries for Trademark Name Selection
• Testing Methods Used for Trademark Name Selection
• Use of Vendors in the Trademark Name Generation Process
• Trademark Naming Group Reporting and Structure
• Trademark Naming Group Investment
• Legal/Compliance Group Involvement in Trademark Name Assessment and Selection
• Best Practices and Strategies for Developing and Implementing Trademark Names

Best Practices, LLC engaged 14 leaders from 13 pharmaceutical and biotech companies to examine their trademarking strategy. Repeat companies represented different brands and therapeutic areas from each other. For more insights regarding trademarking strategy and execution, download a complimentary report excerpt at https://www.best-in-class.com/rw155.htm.

ABOUT BEST PRACTICES, LLC

Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations.