Naming a new business

Naming a business may be slightly easier than naming a child, but not by a whole lot. There are legal issues, marketing concerns and the actual act of registration to consider. It is worthwhile to sit down and brainstorm a whole list of possibilities – you’ll be surprised how fast you’ll be able to eliminate names.

One very important consideration is whether another company is also operating under a similar name. You will need to investigate whether that company has rights to use your name in your area; if so, you may need to choose another name. You will also need to think about the connotations of a name associated with another business. If that business is known for poor practices or has an otherwise bad reputation, that ill will could extend to your company.

As the internet has become more prominent, it has become vital to have a website for your business. Before you officially name your business, you need to make sure that your domain name is available. If at all possible, you need the ‘.com’ version of your company’s name. If your domain name is even slightly different than your company’s name, your customers can become confused and be unable to access your website – and may even wind up at a competitor’s site. The same holds true of the ‘.com’ extension; most customers consider it the normal ending of a website, and often type it in automatically.

You also need to take into account the business structure you are using; different structures have different requirements for business names. You may need to include ‘LLC’ or ‘Inc.’ depending on your corporate status. Even if you operate as a sole proprietorship, some states have very specific naming regulations, including mandating that you operate under your own name, unless you file another name as a trade name.

It can be worthwhile to check what your proposed name means in other languages, especially if you expect your target markets to include speakers of other languages. The defining example of this problem is the Chevy Nova. The Nova failed when Chevrolet attempted to introduce it to Mexico because, in Spanish, ‘no va’ means ‘doesn’t go.’

There are reasons to be wary of using your own name. If you sell the business, you may be unable to use your name in conjunction with business opportunities later on, as well as facing personal reputation issues if there is any mishandling of the company.

When you have determined the new name of your bouncy baby business, you should take steps to protect it. You are able to register trade names through the Secretary of State’s office for the state you plan to do business in – if you intend to operate in multiple states, you may need to register your company’s name in each one if you want to protect your name. You can also enjoy wider protection by registering your trademark with the U.S. Patent and Trademark Office. After you’ve registered your company’s name, you’re ready to go print up business cards, stationery and anything else you need for operations.