How to choose a company nameThe company name must be unique and eligible, in order to register it to Companies House.
How to choose a company name - introduction
But, no matter which name you choose for your company, you can build multiple brand names associated to your company. We highly recommend to build additional service or products that will develop together with the company, also giving you uniqueness, exclusivity for those products or services.
Even if you only deal products or services of well-established brands, you also should define and build your own brand - in time, this will be yours, will have it's own intrinsic value, and you can use it in many other ways: start offering complementary products or services - or even you sell it as an established brand.
Use known brands to build your own brand.
At Logic Industry®, we can help you with a complete Brand Strategy and Brand Definition, and even with business models that we learned from our clients, working on international markets, in a large variety of products, services and business models for more than 21 years. We will share this experience with you and will define and build a winning brand; and then, we will help you develop it through marketing, advertising, branding, using various channels and ideas - from online to fairs, exhibitions, printed materials, even a bespoke CRM to automate your entire business.
How to choose a company name
Whether it's a new company or a new product or service, the name of the new brand is always a challenge. The importance of a brand name is overwhelming, and not just in terms of the fact that the name will represent the brand.
A brand name must uniquely identify the brand without causing confusion, a brand name must be legally protected by registering as a trade mark, and the brand name must be able to have a free internet domain behind it.
At the same time, a brand name must be scalable, to be able to be developed conceptually over time, with the development of the company. You don't want to invest time and money in the whole concept and development of a brand, investing consistent budgets in advertising campaigns only to find out that you can't register the domain name or that it is protected as someone else's trademark.
That's why a brand name is a topic you need to leave to Logic Industry professionals. Obviously, we will team up with you, we will take into account the suggestions and preferences you have, but when we reach the end of the process you will know that the chosen name will have a bright future as a brand.
How to choose a company name
The implications of choosing a brand name
Because we believe in the power of example, we offer you an imagination exercise to analyze the consequences - fast or bad - of choosing a brand name.
Example: Suppose you want to open a pizzeria. After two weeks of creative process you have reached a name with extraordinary potential for this business.
1. What do you have to do to start the business?
- Make a logo for the new name. You, a friend or an agency.
- Order the light company with the new name
- Customize the display case, either by blasting or by posters
- Order personalized pizza boxes and personalized bags - Make leaflets or door-hangers that you distribute at the printing house
2. The evolution of the business
Two months after opening, the pizzeria is doing great, you have started to recover your investment. Customers have started to buy regularly and new customers come to the recommendation of old customers. You have also started home deliveries, everything is going great
3. Unpleasant surprise
One day, you receive a notification or someone appears - accompanied or not by a police officer - who orders you not to use the name you chose because it is a registered trademark. What can you do?
If the individual formally registered the trademark, before or even after you opened your business, things are clear. In the simplest case, you can resolve the situation amicably by immediately giving up the name you used. In more complicated cases, you may be charged for non-pecuniary damage [quantified relatively at the discretion of the trademark owner] and may be charged the entire profit made from opening the business.
4. What did you lose?
- Money: All investment in advertising, in personalized boxes and bags, investment in advertising (leaflets and maybe radio).
- Time: Everything you have achieved so far in promoting the name will no longer belong to you
- Market: In a very short time, the individual will open a pizzeria in the same area. Customers, a little confused by why you changed your location, will continue to buy from the brand that you have established and that you no longer have the right to use. Even if you maintain your field of activity, you will have the status of a beginner and you will have to rebuild a new brand, but this time on a market that you have created yourself.
What other things need to be considered?
When choosing a brand name, you must consider the business plan, where you will see this brand in ten years, in the happiest case.
Not infrequently we had the opportunity to meet clients who, after years of development, set out to attack new markets. Then there were unanticipated problems during the search and choice of brand name.
- On the market outside your initial geographic area, the chosen names were inappropriate as a pronunciation
- The chosen names did not individualize the brand
- The chosen names were already registered as trademarks and therefore could not be used, losing at the same time the image capital already obtained and which should have supported the expansion
What does BrandZone Logic Industry® mean - quality naming
Choosing a brand name is a very important, complex process, which in addition to the creative part involves complex analysis tools and specialized study processes. By having a mature, experienced partner in Logic Industry who has built and has these tools at your disposal, you can be sure that the future of the brand you want to create will be bright.
Invite us to work with you to create a new brand. We will be honored to offer you our experience and creativity for a successful brand.