How do I Choose the Best Corporation Name?

Malcolm Tatum

Picking the best corporation name is a process that involves a number of considerations. Ideally, the name selected should be easy to remember, have something to do with the goods and services offered, and work well in both traditional and online advertising situations. In order to come up with the right company name, owners should look closely at the scope of the business, what group or groups of consumers the company will target as clients, and how the business will be marketed.

A brainstorming session can generate ideas for a corporation name.
A brainstorming session can generate ideas for a corporation name.

One of the first steps in identifying possible corporation names is to engage in simple brainstorming. This can involve nothing more than using a pencil and piece of paper to jot down possible names. With brainstorming, the key is to not take time assessing each of the potential names that come to mind. Instead, the goal is to write down all word combinations that are presented by everyone participating in the brainstorming session. Each suggestion can be qualified at a later time.

Once there is a list of possible corporation names to work with, begin the process of qualifying each name on the list. For the first round, go through and eliminate any names that are not desirable for any reason. This will help shorten the list considerably. During this process, it is possible that while two suggestions are deemed unacceptable, they provide inspiration for another name that is worthy of consideration. If there is general agreement that the name should be added to the list, don’t hesitate to do so.

Ideally, corporation names should be as unique as possible. For this reason, all suggestions that are considered viable should be investigated to determine if another company currently makes use of that name, or even a name that is so close to the idea that it would be confusing to consumers. Eliminating any names that are already in common use or are close to the name of a well-known business will help narrow the list, and make it move on to the next step in the creation process.

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Since corporation names should be easy to remember, any remaining suggestions that are somewhat wordy or do not slip off the tongue with ease should be eliminated. This should leave ideas for names that are easy to pronounce, easy to remember, and are more likely to work well as part of a domain name. Even if there are no immediate plans to launch any type of online marketing strategy or create a web site, making sure the corporation name will work in this environment prepares the business for future online prospects, while still making it easy for consumers to remember the name with ease.

Once the list of corporation names has been narrowed down to three or four options, take some time to get feedback from consumers. This can be managed by simply conducting a poll of people on the street. Showing each consumer a list of the names and telling them the basic nature of the company is often enough to get an idea of how easy it is for the consumer to relate one of the names to the product line. Assuming that one corporation name emerges as the clear favorite of those polled, the creation process can be considered complete, and the selected name can be copyrighted and registered, as well as used in the incorporation documents for the business.

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