When starting a company, crafting the perfect business name is a foundational branding decision. The right business name attracts loyal customers, builds brand identity, and sets you up for success.
We will discuss key considerations when selecting a business name and some examples of how public companies select their business names.
Let's get started.
Why a Name Selection Matters?
Your business name shapes first impressions and awareness. A memorable, appealing name opens doors, while a poor name can limit growth.
Key criteria include uniqueness, meaning, pronunciation, and searchability. Invest time upfront to pick the best name.
What Types of Business Names Are There?
There are four main types of business names, each with their advantages.
Descriptive names directly state your product or service. "Burgers and Milkshakes" leaves no doubt as to what you do.
Experiential names evoke a desired emotion or experience. "Adventure Travel Tours" gives a sense of excitement.
Invented names use made-up words without meaning, like "Google" or "Xerox." which allow creative freedom but may require marketing efforts to build associations.
Founders' names provide built-in meaning and accountability. However, they can limit their abilities when they try to evolve, as if "John's Plumbing" wants to expand beyond plumbing.
Criteria Should You Consider Selecting the Right Business Name?
Aim for a Distinctive, Memorable Name
You'll want a name that stands out from competitors instead of blending into the crowd. Select something unique beyond just your location or generic industry terms.
Creative combinations of words, rhyming patterns, and descriptive names are great for memorability. Check trademark databases to ensure your name doesn't already exist.
Pick a Name Aligned with Your Brand Identity
Your business name should reflect your company values, brand persona, and the impression you want to make on customers.
Ensure the Name Has Longevity and Growth Potential for Starting the Business
As your company evolves, your name should still fit. Navigate clear of overly trendy or restrictive names.
Select a versatile, universal name that allows flexibility to expand products and services over time.
Research Legal Availability and Restrictions
It's crucial to verify your name doesn't infringe on existing trademarks or regulations in your state.
Thoroughly research the United States Patent and Trademark Office database, state business name databases, and other registrations. This saves costly headaches down the road.
Make it Easy to Spell and Pronounce
If customers struggle to say or spell your business name correctly, it's a barrier to building awareness.
Pick uncomplicated spelling and pronunciation to make your name accessible and easy to remember.
Ensure it Resonates with Your Target Audience
Know your ideal customers and what words or meanings appeal to them. Your names should connect with their values and preferences.
Solicit feedback from your demographic to validate that your name selection achieves this goal.
What is a Distinguishable Business Name?
Generally, any business name containing a different word from existing names on file is distinguishable. The business name is acceptable for filing as an assumed name or as the name of a corporation, limited liability partnership, or limited liability company.
For example:
Golden Sun Bakery, LLC vs. Golden Sun Patisserie, Inc. – The names are unique and not deceptively similar.
However, there are exceptions to this general rule.
What Exceptions Are There to Selecting a Business Name?
Business names which are identical except for the following are not distinguishable and will not be accepted for filing:
Identical words except for legal entity type Corporate.
The same words, just organized differently or pluralized.
Only minor word variations like "and" vs "&."
Obvious misspellings or abbreviations
Spacing or punctuation changes
The use of the word or numerals (including Roman) for the same number.
For example:
Blue Sky Technologies, Inc. vs Blue Sky Technology, LLC – deceptively similar.
Any names that are so similar they would confuse consumers are considered indistinguishable and not permitted. The business names need to be noticeably different in their wording.
What Sources Should You Consider When Selecting the Right Business Name?
Here are ten sources of ideas for a business name.
Descriptive Words
Choose a name that describes your business's products, services, or industry. For example, "Tech Solutions," "Healthy Bites," or "Creative Designs."
Foreign Words
Consider using foreign words or phrases with a relevant or meaningful connection to your business. Ensure that the chosen word or phrase is easy to pronounce and memorable for your target audience.
Combination of Words
Combine two or more words relevant to your business or its values to create a unique and catchy name. For instance, "FoodLicious," "TechSavvy," or "QuickFix."
Location-based Words
Incorporate the name of your city, region, or a specific landmark into your business name, especially if you want to emphasize local presence. Examples include "Seattle Sweets," "London Printworks," or "Golden Gate Realty."
Acronyms
Create a business name using the initials or abbreviations of a longer phrase relevant to your business. This approach works well if the acronym is easily recognizable and can be associated with your industry, such as "NASA" (National Aeronautics and Space Administration).
Personal Names
Consider using your name or a combination of names as a business name. This approach works particularly well for professional services or solo ventures. Examples include "Johnson & Associates" or "Emily's Bakery."
Metaphors and Symbols
Use metaphors or symbols that convey the essence of your business or evoke specific emotions. For example, "Phoenix Consulting" symbolizes rebirth and renewal, while "Serenity Spa" evokes relaxation and tranquility.
Mashup
Combine two or more words to create a unique and memorable business name. Examples include "Microsoft" (microcomputer + software) or "Groupon" (group + coupon).
Industry-specific Terminology
Use jargon or terms that resonate with your target audience. This approach can help establish credibility and connect with your niche market. For instance, "Pixel Perfect" for a graphic design studio or "CodeCraft" for a software development company.
Rhyming or Alliteration
Choose a name that rhymes or has a pleasing rhythm to make it catchy and memorable. Alternatively, consider using alliteration by repeating the same consonant sound in multiple words.
Examples include "FitBit," "Crazy Cookies," and "Dunkin' Donuts."
Validating and Selecting the Final Name
Once you've brainstormed, validate, and select the winner:
Thoroughly search trademarks to avoid conflicts. Begin early, as this takes time.
Verify domain name availability. Register domains for top choices across .com, .net, .org, etc.
Use focus groups and surveys to gather feedback on potential names from target demographics.
Measure first impressions, memorability, and how well names communicate your brand identity.
Consult marketing professionals for an outside perspective.
Act quickly to register your final business name choice and domains.
Trademark Searching and Registration
Once you've selected a business name when starting a company, verifying it does not conflict with existing trademarks is crucial. Thoroughly searching and registering trademarks prevents costly legal issues down the road.
Use the United States Patent and Trademark Office's free TESS database to search federal trademarks. Look for names that are identical and similar to those in your industry.
Work with an attorney to conduct total trademark searches, including common law marks. This provides a legal opinion on infringement risks.
File for trademark registration even if your name is currently unused. This establishes ownership and future protections.
Monitor trademark journals and the United States Patent and Trademark Office database for similar filings after registration. Act if conflicts arise.
Beyond federal trademarks, check state assumed name databases for registrations. Comply with all state-level regulations.
Domain Name Tips
Domains are virtual real estate for your business name online. Follow these tips when selecting and registering domains:
Brainstorm domains using your top business name choices combined with .com, .net, .org, and other extensions.
Use domain search tools like WhoIs lookups to identify available domains.
Secure the .com version of your name, but .net or .co may work if .com is taken.
Choose short, memorable domains with keywords related to your business if possible.
Register your top domain candidates right away, even if not immediately used, to secure the names.
In addition to the main domain, register common typos and variations to prevent copycats.
Examples of Business Name Selection
Looking at how major companies landed on their names provides helpful examples:
Amazon
Founder Jeff Bezos originally named his online bookstore Cadabra but quickly changed it to Amazon to connect with the massive scale of the Amazon River.
A play on "googol," the mathematical term for the number 1 followed by 100 zeros, representing the vast amount of information Google organizes.
Coca-Cola
It is named for two of its original ingredients - coca leaves and kola nuts. The name is fun, simple, and descriptive.
Oreo
Oreo was chosen from the Greek word "oreo," meaning beautiful or nice—a short, memorable name describing the cookie.
Verizon
A mashup of the Latin word veritas, meaning truth, and horizon, representing forward-thinking. Descriptive of their industry.
Why Invest Time to Select the Right Business Name?
Picking a quality business name aligned with your brand requires dedication and creativity. However, the payoff in branding and memorability is well worth the effort.
An appealing, strategic name makes a strong first impression on customers and helps your company stand out in a crowded marketplace. It builds brand awareness and reinforces your desired identity.
So don't rush or settle when selecting your business name. Brainstorm memorable options with growth potential that resonate with your audience. This provides a solid branding foundation right from the start.
With the right business name selection, you'll be off to a great start in building your brand identity and connecting with loyal customers.
How to Select the Right Business Name Conclusion
In conclusion, selecting the right business name is an important decision that can significantly impact a company's success when starting a business.
By considering key considerations when selecting a business name and studying examples of how successful companies selected their business names, entrepreneurs can select a business name that reflects their brand identity and values and sets them up for long-term success.
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