The name we choose for our business will be part of its image, so it can be a determining factor in its success or failure.
An attractive name that shows what sets us apart from other competitors could make us the best-positioned company in the minds of consumers. A name that is difficult to pronounce and does not say anything about our company could easily be forgotten.
Taking into account that today most of the good names are already registered and once we decide on one it will be very difficult to change the name of our company is a decision to reflect very well.
This step-by-step article will walk you through how to choose the right name for your business or business. But first, in case you're still not sure, we tell you what a trading name is and how it differs from a trademark or trade name.
What is a Name Company?
The name of a company or the name of a company is the name that is given to identify it and differentiate it from other companies in the market.
A company uses its name in its legal and administrative dealings with government agencies and banks and includes it in its legal and business documents, such as contracts and payment vouchers.
Although they are the same in some companies, the name of a company does not match the brand or trade name of a company.
The name of a company is the name given to identify it, generally to government agencies, banks, and suppliers, and to distinguish it from other competing companies. While the brand or commercial name of a company is the name that is given to a company's product to identify it with consumers and differentiate it from other competitive products.
The name of a company is registered in public records at the time of its incorporation. while the trademark of a company is Registered with a Trademark and the Patent Office or the Office of Distinction.
To manufacture or market its products without major restrictions, a company must register its name, but not it's brand (s).
How to choose a company name
Some people often recommend using a specialized company when choosing a business name. But the truth is that with a little creativity, anyone can choose a good name for a business, regardless of its size.
Here is a guide to help you choose the correct name for your company or business:
1. Identify words related to your company.
To find a name for your business, first identify two or more words (either an Indian or foreign language word, or even words made up of actual words) that are related to it and in which you want to include your name.
To identify these words, you can ask yourself the following questions:
What is your business or what is it about?
What does it offer?
What can we find there?
What can you expect from him?
How is it different from other competing companies?
What would you like to highlight from this?
What are consumers looking for or would you like them to investigate further?
For example, if you are starting a tourism agency, the name could consist of the word "tours." And if you add that your agency is in Peru, or that the tours certainly take place there, you can use the name "Peru Tours".
The same is true if you start a taxi company and want to highlight the safety of its services ("Safe Taxi"), a brickyard, and its sustainability ("Fortaleza Bricks"), a store that offers a wide range of baby items ("Baby World") or a travel agency with destinations in different parts of the world ("Global Travel").
It is common to use the name of the geographic location where the business is located. However, if you are doing this for your business name, keep in mind that you may need to expand the business name to other markets in the future and that name may no longer be appropriate.
Another common practice is to use the first and/or last name of the business owner, or a different first and/or last name. However, if you are doing this for your business name, you need to make sure that the first and/or last name is provided and that it has some affinity to the idea or concept of the same.
2. Make A List Of Names
When you have identified two or more words related to your business that you want to include in your names, make a list of several names for your business that contain those words on a piece of paper, or in an editor or word processor on your computer.
When writing your business names, make sure that they not only include the words you identified earlier, but are attractive, short, and easy to pronounce.
To get ideas for these names, you can use your competitors' names or company names of the same type as your business for reference or inspiration, even if they are directed to other markets, in yellow pages or business directories. are on the internet.
Another alternative is to brainstorm or brainstorm with your partners, employees, family, and/or friends where you ask them to suggest ideas, then help you evaluate the suggested names and reject those that do not pose. no problems. cook it up until you have a shortlist of good alternatives.
3. Choose A Name And Save It
When you have a list of a manageable number of good names, discard the ones that look like your competition and are already signed up and put the rest to the test by asking your associates, colleagues, family, and/or friends what they think about it. and what is the first thing that comes to mind when you read or listen to them?
Then, to choose the name of your business, in addition to the reviews you have collected, think about your personal tastes and the potential impact on marketing, listen to your intuition and choose the name that best represents the idea. or your business concept.
Once you've selected your business name, register it in the public records when you legally incorporate your business so only you can use it, and Register The Domain for your website even if you don't. However, you have no plans to create your website before someone else registers it.
Considerations for choosing a business name
Whether you use the method described above or any other method when choosing your business name, it is recommended that you keep the following considerations in mind:
Personal taste
The name you choose for your business will be with you for the entire duration. Therefore, it is recommended that you choose a name that suits your needs and with which you have some affinity.
Positive image
You should choose an attractive name that creates a positive image, also taking into account, especially if you are thinking of entering foreign markets, that it does not have a negative connotation or that it means something bad in business. other languages or cultures.
Informative character
It is recommended that the name is not only associated with the company but also reflects it. For example, to convey the idea or concept of the business to the consumer and, if possible, what distinguishes it from other competing businesses or what distinguishes it.
Easy Pronunciation
An important requirement when choosing a business name is that it be easy to pronounce. Otherwise, consumers will avoid saying it and therefore sharing it with other consumers and it will be very difficult for them to remember it.
This is Not Registered
Unless you have growth plans for your company, you need to make sure that the name you are thinking of has not been registered by another company or person, thus avoiding future litigation that will not only lose it. money, but also money. can name.
It does not refer to anything very specific
For example, when using your place name, you must ask yourself what would happen if you later decided to expand to other markets. The same is true if you use the name of the type of product you are selling and later decide to diversify your products.
Internet domain available
These days it is important for your business to have an internet presence and have at least one website. So if there is no domain available for the name you want, it may be worth looking for another name.
For example, if you have considered naming your company, but the domains, other similar domains are already registered, it may be helpful to search for a different name.
Closing remarks
As mentioned above, anyone with a little creativity can choose a business name. However, if you are having trouble finding the perfect name for your business, you can turn to companies that specialize in this field.
These companies can not only help you choose your business name, they can also help you choose and develop your brand, logo, slogan, colors, and corporate identity. in addition to the experience necessary to attend legal matters.
The disadvantage of hiring the services of these companies could be the high cost they normally have; Considering the importance of the name to a business and the legal issues that can arise when choosing a name that is already owned by another business or person, it can be a good investment.
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