You want your business to stand out in the crowd. That’s why your brand should be highly memorable, emotionally compelling, and different from the rest.
If you’re planning on launching a business in the New Year, keep in mind that your business name is the cornerstone of your brand. Most likely, before customers get to know you or your products, they’ll hear your business name. Yet, while a name is critical to defining the brand, companies often make mistakes when selecting their name.
The most common error is selecting a purely descriptive name or one that sounds like another business already established in the field. It’s tempting to go this route because it conveys what your business does and helps new customers understand what you’re all about.
However, the trademark office is cluttered with registrations. If you choose a purely descriptive name, chances are high that your proposed name won’t be available to use for your particular market or business type. In other words, if you choose only commonly used words in your name, you will have a hard time getting a trademark and you could accidentally be using another business’ name.
There’s nothing worse than receiving a cease and desist letter a few years after you launched your business because your name is infringing on someone else’s trademark. When this happens, you may need to change your name immediately, provide a list of customers, and even pay damages to the other company.
