Choose a Business or Product Name 4.01

Importance of a Business Name  It is the first image that your business projects.  It can draw customers to your product or send them away.

Methods of Selecting a Business Name 1. Choose a Business Name that Makes Sense for Your Business  Imagine how the potential name will: ◦Look (on business cards, Web site, advertisements, with a logo) ◦Sound (ease of pronunciation) ◦Be remembered (connotations the name may evoke) 2. Distinguishes you from competitors (avoid trademark infringements)  You may want to avoid: ◦Embarrassing spellings, abbreviations, profanities, potentially offensive undertones ◦Implied associations with organizations/people the business is not connected with

Characteristics of a Successful Business Name 1.) Is it easy to remember? It shouldn't be complicated or very long. 2.) Does it tell people what your business does? The name should describe in some fashion what the business does or what it is about. (Examples: Seven Seas Travel, Aquatread tires, Healthly Choice) 3.) Is the meaning confusing? Make sure your business name doesn’t confuse itself with a double meaning or bring up an image that is not conducive to your business. What does the word mean if translated to another language? 4.) Is it unique? If your name is too similar to other names, your customers may confuse your name with another company’s. If they do, you may once again loose business to your competitor. 5.) Will your business or your market outgrow the business name? Think about your name and growth 5 years down the road.

Characteristics of a Successful Business Name 6.) Can it be branded? 7.) Is anyone else using this name? 8.) Is it trademarked? 9.) Can you trademark it?

Legal Considerations for your Business Name 1. Trademark Check: You can't call yourself Coca Cola Productions, but wouldn't necessarily know that unless you went to the US Patent and Trademark Office and ran a trademark search through You can also register an original trademark on line. 2. File Your Business Name. You'll have to look up your intended fictitious business name and see if it is being used by somebody else. The governing entity in many states for this process is the county.

Legal Considerations for your Business Name 3. Publish. You have to publish the notification of your intent to do business as a DBA in a newspaper of general circulation that is certified by your local registrar. 4. Open a Bank Account in Your Business Name. Once your name is published for the duration specified by local laws, the newspaper will provide proof of publication to both you and the registrar.

Citations: part-1