Tuesday, 06 April 2010 04:54

Starting a Business: Choosing a Busienss Name

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"Would A Rose
by any other name
not smell as sweet?"

With regard to a business name, the answer to Shakespeare's question is a resounding "yes." A positive first impression begins with your business identity. A business name can be very important to business success. A business name should:

identify what you do
stand out from competition

be recognizable
and be simple to spell or pronounce.

Remember that the name identifies the business to the public and establishes a relationship between the business and the product or services the business provides. Research that has been conducted shows that names that tell something about the product or service are more successful than those that are vague. Your business name should be broad enough to fit with changes in the organization, products, and strategy.

Business names can be trademarked. Finding the right business name is no longer an easy task. As more and more businesses are created, short and descriptive names may be difficult to come by without risking infringing on another businesses copyright or trademark. Once you have chosen your business name,. it is even more important to protect it by acquiring a domain name and trademark protection.

In choosing a business name, follow these steps:

Make a list of possible names for your business that are short and identify the product or service you provide in a distinguishing fashion;

Try the proposed names on family and friends to narrow your list to the moist effective names.

Check state regulations on business names. Most states require that corporations identify themselves with the designation corporation, Inc., Company or LLC. A failure to identify the business form may erode limited liability and other benefits of the business form you have chosen.

Check existing trademarks and domain names to make sure that the business name you choose does not infringe an existing name. There are several ways to check for similar business names. First, look up current business names in the local telephone book. Second, search for a registered name with the Secretary of State's Office in your state.

Even these efforts are very limiting since trademarks may exist ion a national scale. To avoid having to change your business name in the future or to avoid penalties of infringing on an existing business name, you may wish to pay to have a thorough search performed.

For a consultation in Minnesota call 612.240.8005 or visit MinnesotaLawyers.com.
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