When starting a business you will have a lot of important decisions that need to be made. One of the most important is picking out a business name. This name will remain in place long into the future and will have an impact on your marketing strategy, branding, and much more. With this in mind, you really need to think through your options to ensure you make the right choice. The following tips will help you to find the right name for your business.
Can the Name Be Trademarked?
Trademarking your business name will prevent another company from using the same one or something that is too similar. To trademark your business name, first make sure that another business hasn’t already taken it. This can be done by having a trademark search performed.
Legal Name vs. Fictitious Name
The legal name of your company will be what is on legal documents and what is filed with the appropriate governmental agencies. In many situations, a business will have another name for operating purposes, known as a fictitious name. This is also known as an assumed business name, trade name, or DBA. Fictitious names are most commonly used for sole proprietorships where the legal name is simply the name of the business owner, and the fictitious name is the name provided to customers.
Understand the Meaning of the Name
If you are making up a name for your business, make sure you have a good understanding of how different people might interpret the words you want to use. For example, if you hope to operate internationally someday, research what the words you have chosen mean in multiple languages. Naming your company something that is offensive or undesirable in another language can cause problems.
Consider the Domain Name
No matter what type of business you are running, you almost certainly will need to have a website in place. When choosing your business name, check to see if the name you want is available as a domain name. If it is not, you may want to choose something else to ensure you can control the domain for your business.
Marketing Strategies
Your business name can be a big part of your marketing strategy today and in the future. Think about how you could use that name in your marketing efforts to ensure that they will be effective. Your business name doesn’t have to be the central thing featured in your ads, but choosing a name likely to have a positive effect on your intended customers can help you win the attention you seek.
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