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Author: Court Tuttle
How important is a business name? Very important! Not only must your name reflect your brand and be memorable, there are also a host of legal issues to consider. The correct name can make your company succeed, or doom it to obscurity and failure.
Many new businesses consult a naming firm who are more adept at this skill. Their consultants have elaborate systems for creating new names; they know their way around trademark laws, have the expertise to advise you against poor choices and reasons why.
The downside is cost. A professional name firm may charge anywhere form $2,000 to $35,000 to develop a name. It could save you money in the long run by avoiding legal hassles, registration, and having a superior, recognizable and memorable name.
You can come up with a meaningful moniker that works without breaking the bank and a name that communicates, is effective and reinforces who you are. Begin brainstorming, looking in dictionaries, books and magazines to generate ideas.
Try to define the qualities that you want your business to be identified with. Involve only the key decision makers and the people you feel have the company's best interests at heart in naming your Internet business you want to use to make money on the Internet.
If you are thinking about marketing your business globally or if you're located in a multilingual area, you should make sure that your new name has no negative connotations in other languages.
Your name should be easy to pronounce. You have to take a look at your competition and what type of branding approaches they have taken. You have to use a good name and approach to separate yourself from them completely.
After you've narrowed the field to four or five names, then you are ready to do a trademark search. Ensuring that your name is going to be federally registerable is important. Enlisting the help of a trademark attorney is advisable.
Naming a business is a lot like laying the cornerstone of a building. Once it's in place, the entire foundation and structure is aligned to that original stone. If it's off, even just a bit, the rest of the building is and everyone will feel it also.
Remember your purpose is to have an Internet business to make money on the Internet. In the fever to start your new business plan, think about future expansion and take the time you need for that "perfect" name.
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