It may seem like a relatively simple or minor step, but coming up with the right name is an important part of forming a new business. The business’ name is your introduction to potential customers. A good name can help bring business in the door; a bad name can drive away clients.
From a legal standpoint, it is necessary that you have a unique name if you intend to incorporate. You cannot use a name of an already-incorporated business, except possibly if your business and the other company are in different regions of the state, or offer different services. You should also make sure the name does not infringe on any trademarks.
Besides legal restrictions on naming a business, there are marketing and other considerations, according to Forbes. The name should clearly communicate what your company does, to help customers find you online. It should also look good visually, so that it looks appealing on your business cards and other materials. Consider what your competition calls themselves for inspiration — but don’t name yourself something too similar.
Don’t limit yourself to the first idea you come up with. Be creative. Brainstorm a list of possible names, and go over them with family and friends. Consider who your potential customers are, and what type of name they would respond to. Once you have narrowed down you list, check the Internet to make sure that nobody has already claimed your name online and in social media.
Those starting a new business have a lot of little details to go over. Many of these steps can be easier with the help of a business law attorney.