We are thinking on product name for our niche software product targeting users of big corporation technology with "PRODUCT™" name (sorry it is obfuscated for now). As we don't compete with this company PRODUCT™ (the corporation has similar software to ours but free of charge (there are other solutions as well) and, it seem for the past 4 years, it is not very interested in developing this software; the main corporation service is far-far away from what we are doing as well). Our software makes the work with big corporation PRODUCT™ easier and more enjoying. Actually it is "the Builder tool for the Product" or "Product Builder tool" which is quite standard designation for such software. So one of the best strategy in terms of recognizability and SEO could be to name our software ProductBuilder or something like that.
In addition it seems like the big corporation cannot register PRODUCT™ as trade mark because another great company in almost the same market has acquired several years ago Product Ltd. and use its name ("Product") for its "Professional Duct" technology. Ok, they are both about software and services :)
The third aspect to consider "PRODUCT™" is a common english noun.
So the question is what strategy to choose and how safe they could be:
- Use ProductBuilder name?
- Register ProductBuilder domain and use it for SEO but choose different name for the product?
Update: After @jqning comment. There is legion of the products named the same way. For example some huge fraction of Microsoft Word related utilities (and competing products) have "Word" inside their name (Atlantis Word Processor, Easy PDF to Word Converter, Avery Wizard for Microsoft Office Word 2003, Free Word Excel and Password Recovery Wizard, Recovery for Word and many many more just made a search on cnet). The same is true for Excel or Acrobat and Flash and many other products.