Naming Your Business

August 2010 Newsletter

A rose by any other name may smell as sweet, but if it tries to call itself a tulip, the situation could get thorny.

One of the seemingly more fun decisions that prospective new business owners have to make is naming their company. People tend to focus on coming up with something creative and catchy; a name that has some sort of relationship with their business and that will resonate with their target market.

There are different schools of thought on what you should take into consideration when naming your business.

Do you want prospects to be able to tell what your business is by its name, or do you want your business name to be more abstract?

Do you want to use actual dictionary words in your business name or conjure up invented words? Give that careful thought since fictitious words, along with incorrect spelling and grammar, could make it difficult for customers to look up your business.

If you plan to be in business for a while, you might want to be careful about using words or phrases that are overly trendy.

If your business will have a web site, give the site the same name as the business.

The chances are that brainstorming potential names for your business will produce more than a few contenders. What’s important is that your business name should, in some way, deliver your business message.

As you narrow down the choices, don’t get too attached to a name until you do your research.

You can start by doing a FREE Corporate Name Search, which essentially searches the database of the Secretary of State to make sure the business name you are considering isn’t already being used by another company. You may not have ever heard the name before, but if someone else in your state has filed that name as their corporation or LLC, you won’t be able to incorporate under that same name.

Once you establish that the name you’ve chosen is yours for the taking, your next step is to file a DBA (Doing Business As, also known as Fictitious Business Name). Generally speaking, if you are conducting business under a name that is different from your own, you must register a DBA on either a state or county level. To learn more about the requirements of filing a DBA, click here.

And, if you’re not quite ready to open your doors and let the world know you exist, but have the perfect name in mind for your business, don’t panic. You can even file to reserve that business name, which will prevent someone else from opening a business under that same name for 30-90 days.

Visit www.corpnet.com to learn how we can assist you in filing the necessary paper work quickly and affordably saving you time and money. Of course, if you have specific legal questions or concerns, you should consult an attorney for sound advice.

What Are Your Next Steps?

File a DBA (“doing business as”) Incorporate, or Form an LLC with CorpNet.com. CorpNet will do all the paperwork needed to start your business starting from just $49 plus state fees for Corporations and LLC’s and from $149 for DBA’s.