1. Teen Entrepreneur Teen Project #2 The Company Name & Description

2. Teen Entrepreneur Company Name & Description  OBJECTIVE: Brief overview of the business including the business name and other relevant information

3. Teen Entrepreneur Company Name & Description  What’s Included in a Business Description? Company Name General Summary Declaration of a business form of ownership Industry Classification Location Year business formed

4. Teen Entrepreneur Company Name & Description  What’s Included in Company Description Primary Function of Business How Many Employees Who will be providing legal, insurance, and accounting advise? (Business Advisors)

5. Teen Entrepreneur Company Name & Description  Creating a Name for Your Business Immediate Impression Convey expertise in products/services being offered Convey value & uniqueness of product/service Convey qualities & benefits of product/service

6. Teen Entrepreneur Company Name & Description  Creating a Name for your Business Be pleasant and positive to read or hear Be easy to pronounce Be easy to remember Be non-limiting to accommodate future growth and expansion of business Consist of no more than two or three words

7. Teen Entrepreneur Company Name & Description  A business name should NOT: Deliberately contain misspelled words Be too similar to other business names Offend or embarrass potential customers Be too vague or general  Acme (could be a food store?)  Acme Movers Begin with an Article (A, An, The) Consist of more than 3 words

8. Teen Entrepreneur Company Name & Description  DOES YOUR BUSINESS NAME ALREADY EXIST? It is ethically wrong to use another business’s name Most states have strict laws restricting this practice Check availability of name at United States Patent and Trademark Office Web Site  www.uspto.gov www.uspto.gov Trademark: Name, symbol identifying a product or business ™™ ©©

9. Teen Entrepreneur Company Name & Description  Assignment: Read: Project #2 – Shaun Decker in Action (p. 33 – 36) Do: Your Turn – Create a Company Name & Description (Read Instructions! p. 37)  Save Worksheet to “My Business Plan” folder  Print and hand in