Choosing the right business name could ultimately determine your company's success or failure. It is sad to note, however, that many people do not give this much of a thought when making the decision. There are many factors to consider including something memorable, a name related to your area of work and, potentially, the availability of the domain name.
Why The Marriage Analogy?
Picking a business name is like getting married. You are going to have to stick with it till the bitter end. Experts believe that prospective clients need to see your business name or advertisements at least 22 times before they agree to transact with you. Should you try to "divorce" yourself from the name you have chosen, results can be catastrophic. Make your business name one that stands the test of time.
What's In A Business Name?
You want to be joined in holy matrimony with your business name, but you do not want to be left at the altar because the bride turns out to be married after all. There are several significant issues to consider.
The first legal step to take would be to see if the name is currently in use in your state, or if it is not. The Secretary of State controls the names of all corporations, LLCs and partnerships. Most also have a web site where you can conduct name searches. Even those running a business on their own need to cross-examine their business name to make sure it is not listed in the state database. You will need to come up with alternative choices if the name is already taken.
So let us assume you passed muster with the Secretary of State, you will then need to counter-check your name against the database maintained by the PTO, or the Patent and Trademark Office. The PTO has its own comprehensive online database. As with the Secretary of State, you can conduct an online search to make sure no other business is using it.
A website is an important part of most business' game plans, even more so in the twenty-first century. Chances are you also have a website or plan to create one - if this is the case, you have to check whether your business name is taken as a domain name or not. If it is, you should register it immediately. If not, you can either change your business name again or focus on a domain name incorporating your service or product instead of the business name.
Staying Problem Free
You business could be devastated if you do not take these precautionary steps. Sadly, many people still neglect to give pause to these considerations and go ahead and change their business names, with an often negative impact. Take a breath before you select a business name. It is a lot like marriage - only in this case, divorce is never a healthy option.
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