What are the most important criteria when choosing the name of a new company?
No matter what kind of business you are setting up, choosing the appropriate name is the crucial thing that the company needs to do. The name of business can attract the first impression of customers and also attach your business throughout the entire life cycle.
There are many suggestions to create the right name for your business. To start with practical issue, the name should be easy to remember (Businesslink 2008b.), to pronounce and to spell. (Start ups 2007.) Style of words may be snappy, humorous (Start ups 2007.), or catchy (Businesslink 2008a.).These styles can make the name memorable and different from the others. The name maybe links with a place which the business runs (Start ups 2007.). The company should also consider the availability of domains as you are selecting a business name (Scott, J., 2009.). Overseas traders have to aware about meaning of the name (Scott, J., 2009.). Moreover, Nature of business is one of the important factors about choosing a name. For example ; “Depending on the nature of your new business, you may want to present potential customers with a traditional sounding name (for example if you are providing professional services),or a technology or modern focused name if you are in the high-tech sector(Scott, J., 2009.).” The interesting suggestion about trading name and corporate name is that trading name should be creative , however corporate name should be plain in order to expand other brands and trading names later (Businesslink 2008b.).Lastly, the company should know regulations and restrictions about naming business in legal views which can be found much useful information on Companies House website (Businesslink 2008b.). In case of certain industries, like banking ,If the company name has been applied as same as a trademark, it is suggested that the company should do some trademark research (Scott,J.,2009)....
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