Should You Trademark Your New Innovation? S12 Ep3

20 Apr 2016 — 2 min read

One of the more common questions asked by innovators is about patents and trademarks. For some reason, many innovators focus on patents believing that they need one to secure funding and/or support for their idea. That somehow a patent validates novelty. Given the average cost to secure a patent ($20,000 to $30,000 USD), how should you compare/think about funding a patent and/or a trademark?

In this weeks show, we have Andrei Mencov the founder and CEO of Trademark Factory to share his expertise in trademarks and why they are important for innovators to think about when launching their new idea.

Topics covered in this weeks show include:

How did you get interested in intellectual property?
What was the driver for you to come to Canada?
Why do so many entrepreneurs/innovators overlook trademarks?
How should someone look at the importance of a trademark?
If someone has limited funds and can only fund one, should it be a patent or a trademark?
What drove you to give up being a lawyer to become an entrepreneur?

About Andrei Mencov:

Andrea began my legal career more than 20 years ago when his father, a well-known composer, asked him to help protect his copyrights. While he was still in law school, he successfully represented him in a lawsuit against a radio station that used his music in an advertisement without his permission.

In 2007, he moved his family from Russia to Canada and after 3 more years of law school, he received his Canadian license to practice law and became a registered trademark agent. Driven by his passion for protecting creativity and innovation and rewarding talent and achievement, in 2011, he founded Mincov Law Corporation, a business law firm for clients who value intellectual property as a legal tool for protecting ideas and creativity.

In 2013, he came up with an idea of Trademark Factory®, a service that allows businesses register their trademarks with a free comprehensive trademark search, for a single comprehensive flat fee, with a 100% money-back guarantee. An disruptive business model for trademark agents and attorneys.

To satisfy his desire to help as many clients as possible, he voluntarily gave up his lawyer license in 2015 to be able to scale Trademark Factory® internationally, something he could not do while he was holding on to his Canadian lawyer license. This marked a milestone in his transition from an intellectual property lawyer who worked with entrepreneurs to an entrepreneur with deep knowledge of intellectual property.

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