5 Things to Consider When Naming a New Company

I’ve created names for sole proprietors and multimillion dollar companies, and there is nothing that slows down a project more than having to tell someone that their business idea is great, but their name is an intellectual property liability.

I’d like to give you a list of things to keep in mind that can save you some heartache and time when naming or renaming your company.

1. Get comfortable with compromise. Finding a good impactful name that is legally safe takes work, and you likely won’t get your first choice. Be flexible.
   

2. At minimum, we need to check your state Business Name Availability database. For example, here is ours in Tennessee https://tnbear.tn.gov/ecommerce/nameavailability.aspx These sites will let us know if your name is already in use in your home state.
   

3. Look to see if someone in your industry has already trademarked your name or one close to it in pronunciation by going to http://tmsearch.uspto.gov/bin/gate.exe?f=tess&state=4804:3o0zma.1.1 This is the website that IP Attorneys use to do their search. It is our go-to database.
   

4. If you’re in the initial stages of creating a name, there are some tools I’ve used to help generate and track ideas. First, I absolutely love https://www.powerthesaurus.org/, but I’m more excited by the fact that the listings are user generated, wiki-style. Did I mention it is easy to use? They have an idiom section and it’s fantastic for filtering results by parts of speech i.e. adjectives, adverbs and even expressions. I’ll never use thesaurus.com again.
   
   Secondly I do lean into https://www.mindmeister.com for separating names by concept and mapping out potential themes. I like to group words to see if I can combine or expand on them. Its whiteboard/brainstorming vibe is good for folks who work better visually (definitely this guy). They have a free version and its built for collaboration.

5. Lastly after you’ve developed a shortlist, filter it by asking yourself these questions. Does the name sound alright when it is said aloud? Is it easily mispronounced? Do the acronyms have preexisting associations? Does the pronunciation mean anything derogatory in another language? If it is a product, does it have commonalities with any direct competitors?

It seems daunting I know, but it is possible to create a name that is unique and impactful. Sometimes those constraints are exactly what you need to create something special! If you have any questions or have suggestions for tools and processes feel free to comment below!