The name of a company is the identity of the company. After its inception, naming the company is the next big step. The name of the company projects an image of the company and choosing a correct name is vital in achieving success in the market. Considering how critical a name is to the success of any business house, it is incredibly surprising to see how many people completely neglect this part.
Select something that is memorable and applicable
You should always choose a name that is memorable. The name should be such that it is easily etched into prospect’s memory and he can recall it without much effort. Any type of complex names should be avoided as it becomes difficult on the part of the customers to recall the name. If people can not recall the name, their chances of recognizing the name are almost negligible. The name of the company should also correspond with the type of business you are in, so that people get an idea about the company’s business just by hearing the name. Names that are in contrast to the business of the company may hinder the growth of the company in the longer perspective. A catchy and unique name that is memorable and provides an insight into the business of the company is the key to the success of the company.
Check for Trademark
After some creative thinking out of the box, when you have finally got hold of the name you were looking for, it is now time to check if the name is trademarked. A trademark is any registered distinctive name, sign or symbol that is used by a business house in promoting its products and distinguishing it from their competitors. It helps to build one’s own identity. If the name is already registered under a trademark, then you have no other option but to change the name. Using a name that is already trademarked has some serious repercussions. It is considered as trademark infringement and you could end up having to pay a hefty fine. So, before naming your company, make a serious attempt to check for any similar trade marked names. It would make things a lot easier for you in the future.
Check for Domain Name
A domain name is a mean for identification that defines the boundary of control or authorization in the virtual world. After choosing a company name that is not trademarked, your next step is to make sure if a domain name is available. In the early days following the inception of your business, changing the company name to match the domain name will not do much harm. But, when the company becomes reputed, then a sudden name change to match the domain name would spell sure disaster for the company. So, it is much wiser on your part to check for available domain names before naming your company.