Naming a business
Naming a business is normally an overwhelming and exhausting process. There are many ways to brainstorm while deciding the name of your business. For small and medium business the business naming process is quite complicated and tedious. The right name can take your company to some another level but on the other hand a wrong name can doom your company forever. The stakes are very high and we know that business begins with a name. The business name is the identity of the company, brand of a company and last but not the least the impression of a company. Some people think that best business names are the abstract names i.e. a name on which you can create an image. Some people think that business names should convey the nature of your business. Some think that made up names are more memorable than the real word names. The various factors one should consider while naming a business is as follows.
The business name should set the tone for the business and everyone else should follow it. One should think what is important to you as an owner and most important the business as a whole. The minute the client here your business name, what he or she should think? For e.g. a young financial company would focus on the quality of the work therefore these companies will try let go fancy name or edgy names. The tone of the owner can be academic or playful, professional or edgy. One has to be sure about his or her business name should reflect what business is about and what do you want from the business in the long run.
Names for business should be easy to memorize, pronounce and spell. One should always remember that names of businesses should have only one spelling and interpretation. If there is an exchange of words then these easy to memorize names is very critical. Not only business names should have above qualities, it should be self explanatory. For e.g. a businessman selected the name “Agora” for his business. As we know that agora is a Greek word, which means marketplace. He abandoned the name instantly and the first reaction of his colleague was “I got it”.
In the business world lot acronyms is used but while naming a business try to avoid it. No emotional relationship or connection is established by these randomly collected letters. Also, you may run into branding and legal problems by mixing two business names, which are of different nature, i.e. names spelled and the acronym. A descriptive name better explains the frame work of your company then the generic one. For e.g. Consider the name professional couriers or professional Ltd. Adding a qualifier explains to the customer what is your company actually doing. As we saw that descriptive name is good but the business name should not be too descriptive i.e. one ends up increasing his or her offering down the road itself. Assume that if a company still goes with its original name for e.g. Industrial Credit Investment Corporation of India (ICICI). One has to see where the brand is today and where the brand has to go in future.
One should always watch for language problems for e.g. English word may have different meaning in some other culture or language. An overexcited businessman can be careless to these small things but these things are important in long run. The best way to avoid these kinds of problems is to experiment these names on the target audience and take a proper feedback from them.
One should give sufficient time for a new name sink in i.e. new business name may take some time to fit in and it may happen that it may take several months before you can feel comfortable. These things happen especially when business name is very different. This kind of situation had already aroused for some of the most impactful and memorable names. The best e.g. would be the name “Google” itself. These lines can overcome a strong brand or product potentially. When “Apple” first introduced the tablet, everybody was skeptical about the name but after few years the word “iPad” has become natural part of everybody’s daily vernacular.
One of the most important things would be not get too excited about the business and finalize the business name too soon. One should not get attached to single name during the initial discussion process. When an idea strikes everybody starts visualizing the business card, web site, signage, mission statement, etc. One has to take care that name, which you want, is available legally for your business use and nobody wants get involved in the trademark dispute on the wrong side.
If nothing is going in your way and naming a business has become an impossible task for you than one should take the help of professional consultant to name a business. These consultants have professional experience in naming the business and considerably less time. One can also hire market researchers and professional designers to come up with expressive and memorable names. They may also offer additional services like website design, logo design, etc.
Considering all the factors listed above and if the final business name is decided then one should go for “Trademark”. As we know that trademark carries a huge cost for the business. Check your business name on repudiated trademark search tool and if you find a similar name or variations which is already trademarked then you have to change your business name. One should also protect his business name from other companies poaching your business name. In this case there are five categories of trademark and category in which your companies’ names fits will decide how well your companies name is protected. First is fanciful mark, which means it has no meaning as a trademark. Second is arbitrary trademark, it has just some common English words which has no direct meaning to the goods and services they are applicable to. Third is suggestive trademark i.e. it indirectly refers to the goods and services they are applicable to but it requires some effort from the consumer side. Fourth is descriptive trademark, this trademark clearly directs goods and service used in the market. These marks can be registered if one can show that customer is associated with only one company and the last is generic trademark, this trademark is useless because this trademark describes whole bunch of goods and services, which are difficult to distinguish.
If one intends to incorporate his or her business then one should contact state filling office for the verification of the intended business name that has been already been claimed and is under use. If one finds that already a business is operating under the proposed business name but the existing business is in some other goods or services or is in the totally different geographical location then one may still be able to use this business name.
One should pick the business name that is web ready; it means your business name should be unique so that one can go for web site address or URL. The business name should contain key words that should reflect the nature of your business and to claim online rights one should search enough to verify that nobody else is using the name you thought. Also, the company should claim the social media identity early in the naming process although you are not sure about the kind of sites you decide to use.
While it might be alluring to try to squash your person qualities on your company name, there are many one-time issues to think. Being objective and selecting a name that reflect your company tactic can be more valuable, particularly as your trade develops.
This direct show you how to produce the right notion, show your company name, believe whether your business name will be your brand name and obtain your name on the web. It outlines the precise rules that you must pursue when you choose a company name for a limited company, LLP, solitary trader or joint venture.
Your company name will be the foundation stone of your brand. It have to work fine wherever you employ it – on the mobile phone, in your symbol, signage, advertisements, website, stationery, email and any other medium you plan to use to arrive at the market.
When selecting a name for your business, you should think about the following points:
- Do you wish for the name to replicate what your company does – moving, cleaning, and building? Or would a bit more intangible be suitable?
- Would it be a first-rate suggestion to include once name?
- Do you want a conventional sounding name, conveying sturdiness and old fashioned values, or a contemporary name, suggesting a fresh, inventive approach?
- Think about the prospect – shun words or phrase that is possible to date rapidly.
- If possible to trade abroad, make sure that the name doesn’t signify anything unsuitable in the applicable languages
- Imagine about callers and consumers – avoid long names, bizarre wordings and strange spelling. If you’re setting up to advertise in directory such as the Yellow Pages, imagine about by means of a name that appears near the start of the listing for your type of company
- If you’re focus on the limited market for your products or services , think about using the name of the city or area in the company name
- Keep your trade name creative, but your business name featureless. This will give you the suppleness to develop erstwhile brand and trade names in the future.
There are rules that could influence your choice of business name.
If you have determined to outline a limited corporation and limited liability partnership LLP, you must list your name and other particulars with Companies House.
You need to check that your planned name does not break the rules on name endings, ‘same as’ rules or include an approved or susceptible word without consent.
Company and LLP names – the policy
To make certain the name you select is satisfactory, ensure that your name:
- ends with ‘limited’ , ‘public limited company’ or plc
- ends with “limited liability partnership” or LLP
- isn’t offensive
- isn’t the same as one previously on the directory of company names
- doesn’t include any responsive words or terms unless you have obtain consent to use them
Complaints about company or LLP name
You can create a grievance about a business or LLP name to Companies House if:
- the name is too alike to an active company or LLP name
- within 5 years of register, it is found that deceptive info was known at the time of listing
- within 5 years of listing any situation attached to the register have not been satisfied – eg the stipulation of support certification for a sensitive name
- the name is deceptive and as a result may cause damage to the public
You can also make a grievance about a business or LLP name to the Company at the Intellectual Property bureau if you consider the name has been selected for opportunistic reason.
People running as solitary traders or in common joint venture can deal under their own names, or choose a different business name.
If you make a decision to use a business name, it must not:
- be unpleasant
- include the terms public limited company (plc), limited (ltd), limited liability partnership (LLP)
- contain prearranged or sensitive words and vocabulary, except you have obtain permission to use them
If you record a limited joint venture you must comprise either ‘Limited Partnership’ or ‘LP’ at the end of your company name.
Is anyone else using your planned business name?
Before using your selected name, make sure that it isn’t already being used.
If a solitary trader at the other end of the nation is using it, there may not be a crisis. However, if another neighbouring business, company or nationalized firm is using it, you should decide a dissimilar name.
You should do the following checks:
- check local phone books, company directories and the net
- make sure that your planned name – or somewhat alike – hasn’t been registered by a corporation
- Make certain that the name isn’t too analogous to a word or appearance that has been register as a trade-mark.
If you’re in any hesitation about your company name, get professional advice from your local.
Selecting a domain name
The site address – example, my-new-business.co.in – is recognized as a domain name. For most business based in the India, a name ending with .co.in is suitable. Your email id will normally include this name – example, firstname.lastname@example.org.
Business and persons that meet certain criterion can apply for the .de domain addition – for example, www.my-new-business.de.
If your business is dynamic in other European Union country, the .eu domain name can help you advertise your company as a pan-European business.
To preserve a domain name for your business, you need to index it through agent, who will take a little yearly fee. You should do this as quickly as feasible – even if you’re not using your domain name directly.
You cannot have a domain name that is the similar name as a company register with Companies House.
Register your domain name
- Decide on a appropriate domain name for your website – You can use facts as well as alphabets. Hyphens can be use to part words but not spaces, full stop or erstwhile punctuation. It’s a fine idea to have a few option names in case your first option has previously been taken.
- Ensure whether the name is accessible on the official registry for India domain name, Nomi-net
- List the name – you can do this online with any register agent. There are hundreds of register agent to choose from – a superior starting point is Nomi-net.
Think about colours when you’re selecting a business name. Colour will be a significant part of your business logo and erstwhile business promotion resources and your business sites, and colours have sturdy touching associations, too. Red, for illustration, is a violent colour; its burning elements are connected with speed, enthusiasm and passion while green is a soothing colour associated with expansion, regeneration and nature. For more info on colour and their meaning see Colour meaning and shade That Go mutually by Howard Bear.
You’ll want to generate at least two captivating business names, and three is still better, since once you’ve selected a business name, the after that step is to list it and your first choice may previously be taken.
Do you now have a captivating business name that meet the needs of all of the top five rules? Good! Optimistically you’ll be living with the name for your new company for a long time – and it will keep on to draw new business.