Sort Of Like.com
Like.com performs image searches - you can use a photo of something, such as a watch (or a watch-face) as a search term. The benefit is apparent - as people do shop in real life for 'shoes that have red straps' and that sort of thing. The potential for knock-offs coming up in results seems apparent as well. I put in some famous trademarks, as well as words such as INSPIRED and STYLE, as search terms, and didn't see any clear-cut infringements. Go play with it and see what you find.
NY Times article on Like.com here.