Selecting the name for a new corporation is the first vital decision of a new entrepreneur. The company name establishes the brand that’s projected to both customers and investors. There’s no reason to obsess over a perfect corporate name. But the name shouldn’t be an impediment to success either.
The most important aspect of a favorable name involves technology considerations. These are the means by which the name is communicated in the future.
The first factor involved in the name selection is how it is used on the internet. The name should be unambiguous in a Google search. That is, the name shouldn’t have a generic usage. For example, a name like, “Fireworks, Inc.” will make the company indistinguishable from general web traffic using the term “fireworks.” Monitoring of the company name on the web becomes impossibly complex.
Secondly, people are accustomed to typing “.com” to locate a company on the internet. This means a corporation must have a name that is available for a “.com” domain registration. Either the name is not yet registered or is available for purchase. An entrepreneur should not become forced to use a domain name that’s different than the corporate name.
Next, an entrepreneur should check to assure that the corporate name is available as a Facebook page and a Twitter handle. A new corporation should have a natural and obvious Facebook name and Twitter handle that matches the corporation’s name. These steps are not as complicated as obtaining a “.com” domain name, but are becoming more difficult.
The final technology to remember is the good old-fashioned telephone. A new corporation should have a name that easy to say over the phone. When the name is heard, spelling it should be a simple task. At least, spelling some component of the name must be completed quickly. This process is tested in advance before a final name is selected. If testing results in a great deal of uncertainty or prolonged spelling exercises when the name is spoken, an entrepreneur should discard the name selection.
In general, a good corporation name is short and easy to remember. The best names have only a few characters and few syllables. A corporation name should be tested in conversation. After wards, the listener should recall the corporate name. An entrepreneur saves future discomfort by investing early in selecting a high-quality corporate name.