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What are the criteria for naming a business?

On Behalf of | Feb 24, 2023 | Business Law

Your business name is a very important decision you must make early on in the process of starting your company. The name you choose will become the main identity of the business.

When choosing your business’s name, you want to take time to do it carefully. Because it is so important to the overall function and success of your company, you need to find a name that will meet certain criteria.

Something with meaning

Your business name needs to relate to the services or products you will supply. It does not have to be in your face, such as a t-shirt shop named The T-Shirt Place, but it should relate. For example, an ice cream shop named The Cool Spot relates to what it is selling without being overly obvious.

Something unique

You do not want a name that is the same as another business. This fact is true even if the other business has no relation to your industry. Copying a name only creates confusion. You need to make sure your business name stands out and that when people hear it, they only think of your company.

Something that will adapt

Your business name should also be broad enough to accommodate any growth your business may undergo. For example, if you sell t-shirts and that is all you sell right now, The T-Shirt PLace may be a great name. However, if you decide in the future to start selling socks, the name will not encompass the overall product lines you sell.

Take time to choose the name you will use for your business. Make sure that it is something you feel represents your business in a way that is relatable and memorable to customers.