Trama, the global provider of brand protection services, has reached 7 million € in the second round of valuation. The legal-tech start-up’s mission is to make trademark registration simple, fast and affordable, and with this latest milestone achieved, the team has already set out to focus on the next round of improvements.
Trama has grown into a trusted provider of brand protection, registering about 400 new trademarks each month in just two years after its establishment. With this growth, it has been able to secure its latest funding from venture capital investor Vision Ventures.
“Trama follows a very ambitious goal of making effective brand protection more readily available. The team’s track record of nearly 5,000 trademarks registered in two years speaks for itself and we’re thrilled to fuel this disruptive force in the legal world. But it is really the team behind Trama that makes a considerable difference – experienced trademark attorneys, tech innovators and committed business team, all working hand in hand to make trademark registration as simple, as fast and as affordable as possible,” said Gabriel Horvath, partner in Vision Ventures.
Igor Demcak, CEO at Trama, shares what this achievement means for the road ahead:
“We are excited and proud to be recognised once again as a strong player with the ability to deliver value to our clients. Our long-term goal is to ensure that every brand can be effectively protected and we want to achieve it by leveraging modern technology within the field of law. Our partnership with Vision Ventures will allow us to further automate processes and offer an even simpler and quicker service to our clients.”
What does this focus on modern technology and automation mean exactly? Igor Demcak breaks down how the pursuit of innovation translates into concrete improvements planned for the nearest future.
New system to lessen the chance of opposition
With more than 12 million trademarks registered worldwide each year, business owners may find they have a hard time filing an application that is unique enough. “Similarity between a new application and an already existing trademark is common and there are ways of resolving the situation, but it costs additional time and effort,” explains Igor Demcak. “If possible, it’s best to prevent the situation from happening by tailoring the selection of goods and services and using other practical strategies. We are planning to introduce a new automated drafting system, that will be able to recommend the best course of action, thanks to which we will not only be able to improve the success rate for individual customers, but also shorten their journey to get there.”
Filing a trademark in just one click
Like many other government forms, trademark applications are viewed as tediously extensive. A complete selection of goods and services that the applicant intends to provide can include dozens of items, and in the case of applying for a trademark in multiple countries, filing is further complicated by having to search for appropriate corresponding terms, because the lists tend to diverge between jurisdictions.
“Some intellectual property offices have recently opened up API access that will allow us to introduce one-click filling. Doing so will have a significant impact on the amount of manual labour needed to file an application and allow us to offer quicker service to our clients,” explains Igor Demcak.
Opening the platform to trademark attorneys
Besides helping business owners directly, Trama also plans to extend its offering to legal representation. “We have put a lot of time and dedication into crafting our tools, and we plan to share them with outside attorneys and law firms soon. We have all the core components ready, now we are just working on packaging them into a ready-to-use product, which we are planning to launch in the upcoming months. Our platform will enable representatives to optimise manual tasks, i.e. drafting and filling, and focus their attention on providing value to their clients where it really matters,” says Igor Demcak.
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