Choosing an appropriate name is one of the most important decisions that should be taken by any Startup. In order to choose an appropriate name, a proper research must be conducted. After choosing a name the startup must ensure that the name chosen must be available for registration. Many times people start investing in the branding of their business name without even checking its availability, which may prove to be costly and may drag you in litigation in future for trademark infringements of other’s brand. So, before you begin, you should make sure that your business name is available for registration with the Registrar of Companies
Factors that should be considered while choosing a perfect name for the company are as follows-
- Unique and unforgettable- The name chosen shall be distinct and memorable. Every company wants a name that stands out from the crowd, a catchy handle that will remain fresh and memorable over time helps to acquire large market share.
- Avoid critical spellings- While creating a name, stay with words that can easily be spelled by customers. Some startup founders try unusual word spellings to make their business stand out, but this can be trouble when customers ‘Google’ your business to find you, or try to refer you to others. Also, customers are unable to memorize the unusual spellings.
- Keep it simple- The name chosen must be simple and short. Avoid using special characters and algorithms.
4.Easy to pronounce- Try to choose the business name that customer can pronounce and remember easily. Skip the acronyms, which mean nothing to most people. When choosing an identity for a company or a product, simple and straightforward are back in style, and cost less to brand.
- Avoid using restrictive name-While choosing the brand name make sure that the name chosen must allow your business to move around or add to its product line. This means avoiding geographic locations or product categories to your business name. With these specifics, customers will be confused if you expand your business to different locations or add on to your product line.
6.Ensure that the name is available- After finalizing a name an applicant must check the availability of the name chosen in order to avoid any further litigation.
- Suggestive company name- Try to choose a name which suggests the activities of the business entity rather than choosing any random name. Suggestive name helps the business entity to attract more customers.
- Use common suffixes- Try to choose common suffixes like“.com” or the standard suffix f. If these suffixes are not available for the name you prefer, pick a new name rather than settling for an uncommon suffix.
Thus, a startup shall keep all the factors mentioned above in mind while choosing his company name as it will assist it in establishing a good brand image in the market.