When starting a new company there are many aspects to think about. Choosing the best name for a startup company is pivotal in the company’s success. The accomplished attorneys at Startup Company Counsel have vast experience in establishing new companies and helping their founders create the perfect name. Significant consideration should go into selecting the right name for your business and the following are only some of the many factors you should weigh.
Creativity and Credibility
Many business owners want to stand out and so they select a funky or even nonsensical business name. While such creativity may be attention-grabbing, it can also be impractical if you are in a field that requires credibility to succeed. For example, a finance company owner may believe that the name “Dollarz and $en$e” may be unique, however, the name may not exactly instill confidence in potential clients about the maturity and qualifications of the owner. In addition, if you have to explain an overly-complicated name, it automatically subtracts notability from the brand you are trying to create.
Think About Trademarks
Once a name has been chosen, it needs to be checked for trademarks. First and foremost, entrepreneurs should conduct a search to make sure the name desired is not already protected by a trademark. If it is protected and you proceed with that name, you face possible liability for trademark infringement. If the name is not already trademarked, you should consider whether you will be able to obtain a trademark to protect your brand.
Not every business name is eligible for a trademark. An established business lawyer will be able to advise on what can and cannot be trademarked. For example, try to avoid overly-simple names that accurately describe a generic product. Steve Jobs would never have obtained a trademark for “Apple” if he was selling apples. However, because he wanted to trademark Apple to sell computers, it was eligible for a trademark. The trademark process can be very complex and confusing and it is strongly suggested to seek legal advice from an experienced business attorney with any step procuring the trademark.
Think About a Domain Name
An internet presence is key for most successful businesses; however, it can be challenging to find available domain names that suit your needs. If your business name is short, be prepared to use a phrase or motto for your domain name as most short domain names are already in use. If a domain name with a dot com is already taken, there are other top-level domain names that can be considered. Choosing the right domain name is almost as important as establishing the company name. It will be the source of your online presence and e-commerce and be the digital brand that will allow people to connect with the company no matter where they are located.
In addition to choosing the domain name, there are many legal implications of domain names to keep in mind. For example, you do not want to potentially open yourself up to liability for alleged infringement under the Anti-Cybersquatting Consumer Protection Act. Discussing the legal implications of your intended domain name with a skilled startup business attorney can help to influence your choice of business name and domain name to be the best it can be.
Consult with our California Business Lawyers Today
At Startup Company Counsel, we will talk you through the process of choosing a name for your business and ensure all legal issues are addressed. Call us today at 855-353-5377 or send an email to schedule a consultation regarding any and all legal aspects of your startup.