If you are planning to incorporate your startup, choosing the right name is one of the many important decisions you will need to make. Your Secretary of State will not allow you to file your Articles of Incorporation if you choose a corporate name that is too similar to one that already exists in the state, but you also want a name that communicates what your business is and helps you build your new brand.
Before you incorporate, here are some tips for choosing a winning company name.
1. Don't look for too much input
Many entrepreneurs turn to family, friends and even employees for help choosing a name before they form an LLC or incorporate their business, but this can be a mistake. Not only will you probably alienate people when you can only choose one name, you will also likely end up with a very boring and "vanilla" name that won't help you build your brand. If you want to get others involved, try to focus on just a few key people with a mix of brains and creativity.
2. Don't try to get catchy by combining words
It's not uncommon for entrepreneurs who are pressed for time to try to force a catchy name by combining an adjective with a noun, for example, or using truncations like Ameri, Tech or Corp.
3. Avoid regional references
Naming your company after your state or city may seem like a great idea, and it will probably help at first -- until you start to grow and expand, at which point it confuses customers and hurts your business. Just look at Kentucky Fried Chicken, for example, which became just KFC, or Minnesota Manufacturing and Mining, which transformed into just 3M.
4. Think intuitive
Before you incorporate your business, ask yourself, is your name easy to spell and pronounce, and will customers know what you do when they hear it? If your business name is too obscure or complex, you will simply be a mysterious company to your potential customers and you will have trouble reaching out.
5. Incorporating an existing business?
If you are going to incorporate or form an LLC from an existing business, you may want to just add "Inc." "Corp." or "LLC" to the name to maintain your brand and avoid any confusion with customers.
6. Get your name right the first time...
If you do not choose your new corporation name carefully, you may be required to change it. This means you will need to amend your Articles of Incorporation, change the domain name, get new listings in directories, change stationary and try to navigate through the confusing mess of re-branding your business.
7. But know when it's time to change it
This isn't to say that you shouldn't change your business name after you incorporate. Many business owners eventually realize their name isn't working but hope it will magically correct itself. If your name isn't working, you will have to put the work in to get it changed.
8. Be aware of legal requirements
Finally, make sure you are fully aware of any legal requirements and restrictions in your state before your incorporate. In general, a corporation will be identified with a designator like "Incorporated," "Corporation," "Inc.," "Corp," or "Ltd." Each state also has restrictions, so you may need to state a preference in terms of capitalization, or you may be prevented from incorporating a business with certain words.
Before you incorporate, here are some tips for choosing a winning company name.
1. Don't look for too much input
Many entrepreneurs turn to family, friends and even employees for help choosing a name before they form an LLC or incorporate their business, but this can be a mistake. Not only will you probably alienate people when you can only choose one name, you will also likely end up with a very boring and "vanilla" name that won't help you build your brand. If you want to get others involved, try to focus on just a few key people with a mix of brains and creativity.
2. Don't try to get catchy by combining words
It's not uncommon for entrepreneurs who are pressed for time to try to force a catchy name by combining an adjective with a noun, for example, or using truncations like Ameri, Tech or Corp.
3. Avoid regional references
Naming your company after your state or city may seem like a great idea, and it will probably help at first -- until you start to grow and expand, at which point it confuses customers and hurts your business. Just look at Kentucky Fried Chicken, for example, which became just KFC, or Minnesota Manufacturing and Mining, which transformed into just 3M.
4. Think intuitive
Before you incorporate your business, ask yourself, is your name easy to spell and pronounce, and will customers know what you do when they hear it? If your business name is too obscure or complex, you will simply be a mysterious company to your potential customers and you will have trouble reaching out.
5. Incorporating an existing business?
If you are going to incorporate or form an LLC from an existing business, you may want to just add "Inc." "Corp." or "LLC" to the name to maintain your brand and avoid any confusion with customers.
6. Get your name right the first time...
If you do not choose your new corporation name carefully, you may be required to change it. This means you will need to amend your Articles of Incorporation, change the domain name, get new listings in directories, change stationary and try to navigate through the confusing mess of re-branding your business.
7. But know when it's time to change it
This isn't to say that you shouldn't change your business name after you incorporate. Many business owners eventually realize their name isn't working but hope it will magically correct itself. If your name isn't working, you will have to put the work in to get it changed.
8. Be aware of legal requirements
Finally, make sure you are fully aware of any legal requirements and restrictions in your state before your incorporate. In general, a corporation will be identified with a designator like "Incorporated," "Corporation," "Inc.," "Corp," or "Ltd." Each state also has restrictions, so you may need to state a preference in terms of capitalization, or you may be prevented from incorporating a business with certain words.
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