A little Blue Ocean

Read the book Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne. (Harvard Business School Press – 2005 – ISBN: 1-59139-619-0).

It’s about innovation – a topic dear to my heart.
In blue oceans, competition is irrelevant because the rules of the game are waiting to be set.

The authors studied buisness launches at 108 companies and found:

86% of launches are just line extensions, which account for 62% of total revenues, but only 39% of profits.

The remaining 14% of launches were aimed at creating “blue oceans” – new areas of value innovation. This 14% of launches generated 38% of revenues and 61% of profits.

So, doesn’t it make good business sense to stop trying to compete with everyone else and start looking for ways to add value and reduce costs?  This is what we’re trying to do by bringing the law firm and the marketing firm together – add real quality to both the legal and the branding product, at the same time reducing the costs associated with handling separate partners for legal and marketing services.

Workshop

I’m tentatively planning a workshop for April 24, 2007 at the Fort Collins Chamber of Commerce.  There will be two stand-alone sessions: 9-12, and 12-3.  Right now, I’m planning on the first session focusing on the creative and legal issues relative to naming a new company, product, or service.  The second session would focus on the legal and creative issues of marketing intellectual property.  My plan is for each session to be $150/person, or $200/person for the entire day.  Of course there will be handouts and reference material.  I’d like to incorporate some “workshop” aspects as well, so people come out with some tangible progress toward their goals.

Please shoot me some thoughts and feedback on the idea as comments…

eBooks

I have several ebooks I would like to publish.  I’m stating this in the blog so that any of you out there can help hold me to the pledge.

Here are the working titles:

  1. Branding & The Law: Naming Your New Company, Product, or Service.
  2. Launching your Creative Business
  3. Marketing & Intellectual Property
  4. Copyright for the Visual Artist
  5. Copyright for the Musican
  6. Copyright for the Filmmaker

I’m open to suggestions for others… just add your suggestions as comments to this post.

I’m still here…

Sorry I haven’t been blogging much lately.  I’ve been head-down with a BUNCH of new business formations, Trademark registrations, and some TM and contract litigation.  All this in addition to working on combining my law practice with my marketing and brand consulting.

It’s challenging to find the right words to quickly communicate the concept of a brand-consulting, graphic designing, marketing-communications, intellectual property, and business development law FIRM.  But, we’re doing it.  Watch for some announcements regarding that effort in the next couple of weeks.

If you happen to be in Denver on Saturday, March 3rd, check out the Building Creative Businesses Expo – it’s free.  I’m giving a couple presenations on the business of creativity and copyright for the creative person and business.

Here’s more info on that:

Building Creative Businesses ExpoSaturday, March 3, 2007

Registration: 9:00am
Expo: 10:00am – 4:00pmWellington E. Webb Municipal Building
201 W. Colfax Avenue, Court Street Entrance

The Building Creative Businesses Expo offers Denver’s creative community (e.g., artists, filmmakers, dancers, graphic designers, musicians, etc.) a “one-stop” opportunity to learn about the various City, non-profit and for-profit resources available to help grow and stabilize creative businesses. This is a free program.

Exhibitors will be located in the Atrium of the Webb Building and workshops will take place on the Second and Fourth Floors.

Scene Magazine – January 2007

Here’s the January 2007 Scene Magazine column.
What’s in a Name?
© Kevin E. Houchin, Esq.

Naming is one of the most important pieces of launching a new business, band, or product – yet most people really don’t know how to weigh the different factors involved in the decision. Making the wrong choice can cost you dearly. I just had a client who had to change her business name, after spending a considerable amount of money and time building her brand, because her business name infringed on the trademark rights of a similar company of the same name in California.

How do you avoid that type of circumstance and still come up with a great name for your venture? Follow this process:

  1. Brainstorm a bunch of cool, distinctive, and suggestive names.
  2. Make sure the domain name is available.
  3. Check synonyms of the name and other spelling via Google for organizations offering similar services.
  4. Search the United States Patent and Trademark database at www.uspto.gov for possible conflicts.
  5. Register your intent to use the name in commerce with the USPTO.

Brainstorming names is the most challenging and fun part of the process.

The challenge comes from trying to come up with a unique name that still suggests something about your product or service. Trademark rights are more powerful as you become more abstract, so if you’re completely making up a new word, be prepared to spend a lot of time and money answering the question “what he heck is that?” New drugs are the perfect example, would any of us know what “Lunesta,” “Viagra,” “Pepsid,” or “Zantac” were without hundreds of thousands of dollars spent in advertising and public relations? Spending that kind of money connecting your name to your product isn’t an option for most new ventures, so I recommend that people think up names that are more than interesting than something that is merely descriptive of their product or service, but less arbitrary or abstract than a completely new word. The perfect balance is something like “Crocs” for shoes that have some bite, or “Wooden Pencil” for a creative services firm. Whatever you do, don’t just slap together a bunch of those magnetic refrigerator magnet letters and words.

Once you have a list of possibilities, start hitting the Internet. Before the Web, it was easier to name a product or service – especially products and services with limited availability. Now you are national or international as soon as you post a Web site, and you can’t get away without having a Web site, so your domain name has to be perfect. Search for domain names that match your exact business name. Odds are, someone’s using it. Move down your list until you find something that’s available. If you exhaust the list, then start checking what kinds of products and services are being offered by the owners of the matching domains. If someone is using your target domain for the same services, then your out of luck – move to the next name. If someone is using your target domain for a completely different type of service or product, then you MIGHT be able to make something work. The trick at that point is to work out some variation of the domain that would not confuse consumers regarding the source of your products and the other company’s products. Because consumer confusion is what drives trademark law, check sound-alike domains too. Your goal is to own the appropriate name in your category of goods and services.

Domain names are the toughest to figure out, and 99 times out of 100, if you can find an open domain name you’ll be clear relative to trademarks. But, just to be safe, you should search the USPTO database to make sure there is nobody out there with a registered use of the name that hasn’t figured out they need a Web site. Yes, it’s rare, but you can still find someone who hasn’t figured out the power of the internet.

Finally, once you’ve grabbed the perfect domain name for your product or service, register your intent to use that name with the USPTO so that other people who come along are officially on notice that you intend to connect that brand with your products. It takes a lot of work to build a brand, don’t let it go to waste by leaving it unprotected.
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Kevin E. Houchin is a copyright, trademark, arts & entertainment, and business development attorney located in Fort Collins, Colorado working with creative people and businesses all across the United States. To contact Kevin Houchin, call 970-214-6808 or email him at kevin.houchin@houchinlaw.com.