Product Naming Concerns and Intellectual Property Protection – Tangible Product

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Product Naming Concerns and Intellectual Property Protection Name Institution Product Naming Concerns and Intellectual Property Protection Product naming begins with thorough assessment and understanding of the market that the product is targeting as well as the competition situation. A proper process of product naming will influence the outcome of its success in the market and the future new products (Elliott 2009). Orb Audio is a recently new product in America made with a combination of fantastic sound and an attractive design. They make home theater speakers and stereo speaker systems. Selling directly to the customers enables the company to focus on quality and innovation. The new products are of high-quality audio elements with reasonable prices. Products names have a purpose and information that they relay to the market in different ways. Functional names may be descriptive of what the user effects of the product. They are best for the products at the time the company sees need to build direct brand equity to other parent brands. These products include BMW 325 and the Oracle Database 11G. The right name for the product is the one that will reinforce the company and the position of the brand (Elliot, 2009). An invented name would sell through approval though the name needs a big budget to market for it to work successfully. For the success of a new product, one has to develop a commodity with the desirable name. It has to be unique in the market in which it is new and should have its features communicated to the consumers for support. New products may fail if there is no differentiating advantage over other products. Poor planning and timing would also be

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