Business

Picking Your Company Name Right: The Guidelines

Choosing company name that exactly suits the products and/or services you are offering is the most exciting aspects of its registration in Canada. This will serve as the make or break of your venture in the corporate world as it opens opportunities for your expression and creativity. There are some factors you should take into consideration to come up with the best one. Take note of the following traits if you are planning to sell your business in the future. Learn more about business buy/sell at the online hub Businesses Buy Sell.

  1. Uniqueness and Stickiness – Make sure that the name of your company will standout from the rest in your chosen industry. Choose a name that is catchy, one that will remain memorable and fresh over time. This could be challenging due to changes in the naming trends.
  2. Easy to Remember and Pronounce – Your corporate name should be one that prospective customers can easily remember and pronounce. Company or product identity must be straightforward and simple, and should cost less to brand.
  3. Name with Sense – Avoid nonsense business names. It would be a huge risk when you concoct trademark-proof names of quirky words from scratch. It is best to check for the international implications of the names you are considering.
  4. Avoidance of Unusual Spellings – Stay with easily spelled words. Trying unusual word spelling s can only pose trouble when searching for your business online or when referring you to other potential customers. Also, prevent catchy words that can be explained at cocktail parties.
  5. Not Boxing Oneself in – Avoid names that disallow your organization to move around or add to your product line. Do not use product categories or geographic locations to your business name. This will only confuse your customers when you add on to your product line or expand your business to various locations.
  6. Keep the Name Simple – It would be better for your corporate name to be shorter in its length. Do not use hyphens and any other special characters. Pick a name closer to letter A than letter Z as certain directory listings and algorithms work through an alphabetical system.
  7. Availability – Check your preferred company name or domain name online or to specific Canadian trademark government offices for its domain name. A miss in this factor will greatly affect your business.
  8. Giving Clue – Adopt a corporate name that offers information on what exactly your business does. The name, of course, should match your enterprise to remind customers of your services.
  9. Prefer Names with Common Suffixes – Pick a new name in the event your chosen domain name is not available rather than just settling for an alternative suffix such as .info or .net. You can even take more suffixes if you want and can.
  10. Sample Prospective Customers – Come up with various choices of business names and try them on potential investors, customers, and even to your co-workers. Ask few questions about these names so you can access whether they give off your desired impression.

With the significant number of businesses in Canada today, it would be best to have a business with a name that strikes your target customers first hand.