How to Pick a Company Name
Picking a name is one of the most crucial aspects of starting a new company. It will be used in your logo and your advertising, and will become the identifier for your business. Choose one that is descriptive and distinctive; think about famous companies and their original, innovative names. Put some time and thought into your choice; deciding to change it later can be complex as well as costly.
Other People Are Reading
Instructions
-
-
1
Make a list. Your list of possible company names can be anything you think is appealing, interesting or descriptive. Do not be too analytical at this point. Just write down all the names you believe might work for your company.
-
2
Analyze list for rejects. After you have completed your list of possible company names, rule out the ones that obviously won't work. Read through each name on the list. Say them out loud and cross off any name that you are not immediately comfortable with--or place question marks by them. Take these names out of the running.
-
-
3
Research companies that offer similar products or services. Cross off company names already in use or very similar to ones in use. Include Internet-based companies as well as local and national companies.
-
4
Take your names to the streets. Ask your friends, neighbors and family what they think of your short list of names. Perhaps they have a favorite or maybe they know of a company with a similar name. The more people you talk to about your list, the more input you can receive on your company name.
-
5
Wait two weeks. Take some time to think about your favorites. Even if there is a company name you love, wait and mull the name over in your head. Some names lose their charm over time.
-
6
Check for current name usage. Research your short list of names to see if they are currently being used by any other businesses in your industry. This can be done by checking with local, state and federal registries. According to federal trademark law, a company has rights to a name if the business is the first to use a name in an industry.
-
1
Tips & Warnings
As soon as you have decided on a company name it is a good idea to trademark the name. This will prevent another company from starting up and using the name you love.
Do thorough research to ensure no one else has already started a business with the name you want. If another company claims you are using their name, it could cost you a lot of money.
References
Resources
- Photo Credit business image by Szymon Apanowicz from Fotolia.com
