How to Choose a Company Name or Check Business Name

A company name is not just a mere string of words or letters put together, but an identity of the company, which everyone relates to. From business cards to letterheads to even your website, your company name is everywhere and making sure that it is unique to your business and memorable, is your prime responsibility and needs to be done with care.

No, it’s not. An individual is always identified with their name and yes with their traits and qualities too, but the first thing that would come to mind about that particular person would be their name, and that’s pretty much the case for companies too. Your company represents a group of individuals and to make it stand out from the rest; you need to have a unique name that makes people resonate and relate to it.

Here are a few things which will help you select the ideal name for your company

• Brainstorming is the way to go

Yes, by brainstorming, you get more ideas and options than before, which could result in something really unique and creative. You can either brainstorm with your set of friends, family member or even with your set of employees , who might help you out with the process.

• Always write it down

Yes, even if it sounds a bit silly or not up to the mark, don’t hesitate to write it down. By writing it down, you get a clear picture of where you are heading towards, which will, in turn, help you select the ideal name for your company.

• Usage of a dictionary and a thesaurus

If you are out of ideas for names, then you can always rely on dictionaries and thesaurus, which will provide several alternatives and options, enabling you to choose the ideal one.

• Research online

You can always research online, but make sure you don’t use the same one and rather take it as an inspiration to develop something better.

• Check out your competitor's names

Again for inspiration and to generate more ideas based on that.

Here are a few tips to keep in mind while writing which will help you generate more ideas and come up with something great:

• Follow the KISS principle

Yes, make sure that your company name is simple and easy to understand with fewer words and phrases. It will be always advisable to use shorter names than long ones as they tend to be catchier and easy to remember.

• Use words that are common and relatable

Names that are simpler and easier to understand are known to stick to people longer than names that are complicated. It is not always ideal to explain what your name means as that could kill the essence and beauty of it.

• Single names can cause wonders

Yes, companies that have single names are known to be more memorable than companies that have long or complicated ones.

• Always test your name

It’s very important that you test your company name with your friends and family in order to understand what kind of response your name gets and whether it’s likable or not. You can also check your company name on several parameters such as readability, understandability, and recall value and others.

• Choose the best out of the lot

After you are done with your list of names, you now need to make sure that none of your competitors’ names appears while typing the desired company name on search engines, as that could cause you trouble, both in terms of revenue and in terms of audience traffic.

Here’s the next thing that you need to take care of after deciding on a few options for your company’s name.

• If you are a sole trader, then you need to make sure that your name does not have ‘Ltd,' ‘LLP’ or any abbreviation related to the word limited.
• If you are a business partnership company, then you need to make sure that your name doesn’t consist of ‘Ltd,' ‘LLP’ and ‘public limited company.’
• A company also needs to register for VAT and also for company registration number.

The next and the most important thing to do is check whether your name has been taken by another company or not

• This can be done by entering the desired company name on the Companies house website.

• If the name is available, then you go ahead with the name. If not, then you would have to change it.

• There are several reasons why a name might not be available.

• If it has similar punctuation marks as the existing company.
• If a word used in the name is similar to that of an existing company.
• These names are generally categorized under the “Same as” names.
• Your company name could also be a, “too like” name, which means that your name is too similar to the name of an existing company.
• Your name might also not be accepted if it consists of offensive words or words that might hurt the sentiments of people.

Having a verified domain name

In today’s world, not having a website might seem really outdated and could put your company on the last of the list. Thus, it’s very important that you have a verified domain name, which is easy to remember and related to the company. Again the same set of rules apply to the selection of a domain name and to find out that if it has been taken or not, you would have to verify it online.

The registration process

After you are done brainstorming, selection, and verification of your company name, it’s now time to register the company with the Companies house website . The first and foremost step would be to create an account using your name, email, and password, followed by the form filling process.

By following the above-mentioned steps and by keeping the various points mentioned in mind, you indeed would land with your desired company name, which will now be your identity amongst your audience.

About the author

Sumit Agarwal
Sumit Agarwal (ACMA ACA India), the Managing partner of dns accountants is a highly respected accountant with expertise in helping owner-managed businesses.