Your business name influences your business’s success. Consider the future, representation, and keep it short and simple. Most memorable names roll off the tongue easily. Your customers may use an acronym that’s easier to remember. Choosing the perfect name significantly impacts branding and customer perception. You’ll explore creative strategies for brainstorming names and learn about potential pitfalls. Deciding what to call your company is exciting yet serious. Your decision affects your ability to reach a broader audience and grow. To create a compelling brand name, understand the classifications to determine one that fits. A trade name is what the public sees, often called a "doing business as" name. Keep your sights set on expansion from new locations and products. The best names are short, simple, and relevant to what you do or sell.
Best Practices for Selecting Your Business Name
Deciding what to call your company is probably one of the most fun and exciting aspects of starting a small business. You might have launched this venture by scribbling business name ideas on a bar napkin while hanging out with friends. But naming your small business is also serious business. Your decision could affect your ability to reach a broader audience and grow. And making the wrong choice could even get you in legal trouble. Be catchy but relevant. When deciding how to name your business, the key is to find a name that fits who you are and what your business is about. Start with simple words, chalk out similar names and meanings, and go with something that is unique and has an appeal.
Steps to Ensure Your Business Name’s Legitimacy and Protection
Legal name: This is the official name of the person or entity that owns the business. Trade name: This is the name you use to identify your business to the public, in advertising, on business cards, in websites, in marketing literature and so on. Your legal name and your trade name can be, but don’t have to be, the same. There are different phrases and words for a store that sells everything. The two most common ones are “superstore” and “department store”. Consider domain name: Check if the domain name is available and register it to avoid future conflicts. Renewal: Business name registration needs to be renewed periodically, so keep track of the renewal dates.
Registering and Changing Your Business Name
Why is registering your business name important? Registering your business name is crucial. It’s a critical step for any entrepreneur looking to position themselves for growth and success. The benefits of registering your business name: Protects you from potential infringement claims and gives you exclusive rights over how people use your name in commerce or trade without permission. To register the business name, the name will need to be available in the state of formation. You can check with the state agency to see if the name is available. To fix clerical errors and typos in your business name, you can often file a certificate of correction. If you want to make a substantive change to the legal business name, you will need to complete the following steps: Adopt a resolution approving the name change. If approval of shareholders, partners or LLC members is required, the resolution will need to be signed by a requisite number of shareholders, partners, or members.