Thursday, 19 August 2010

Naming your business - avoid the pitfalls

So you have business idea. Before doing market research and a business plan, the next thing you do is think of a company name and brand - hardly the most pressing of tasks, but human nature dictates we do this (there's probably some Freudian explanation for this). You have a name, "blue sky", as you want to be perceived as an imaginative and innovative business. But reality dawns, the name's been used hundreds of times before and you despondently consign the idea to the wastepaper bin. So, where do you go from here?

In the UK I'd recommend six preliminary checks, all of which can be done quickly over the Internet. Having worked for an entrepreneur I've followed this process dozens of times. Unfortunately he'd often pick a name for his project upfront and run with it for a few weeks before letting me know. I'd then have the unenviable task of reporting it as a none starter (I no longer work for him).

Step 1: make a shortlist of potential names. This can be a similar name configured or spelt in a number of ways, e.g. innovate, inof8, intervate.

Step 2: run your shortlist through a web domain directory. I use 123-reg.co.uk to see what's available. I'd limit the search to .com and .co.uk domains as they're the ones that uk businesses generally use. Good names tend to be short and catchy, and remember, your company name need not be your web domain, e.g. B&Q use www.diy.com.

Step 3: do a web search and see what else is out there using your preferred name. If there's something similar in your locality, or a business of the same name doing what you want to do, then go back to step 1. If you persist with the name you could be on the receiving end of a nasty solicitors letter.

Step 4: run the name through a translation website (such as google or babelfish). You don't want a name that's insulting or comical to overseas customers. You'll know what I'm talking about if you've ever walked round a supermarket on the continent.

Step 5: use the trademark register at the UK Intellectual Property Office to see what other businesses have already registered (the search facility is fairly straightforward). They'll be a mixture of word and pictorial trademarks registered. Again, if you see something that closely resembles your name or potential logo, then its best to go back to the drawing board.

Step 6: Finally, if you need to register a company, then do a search at Companies House. Some business owners prefer to use a company name that resembles their brand name, but this is not compulsory. Company law is also flexible about names within certain boundaries, so if your preferred company name "Bluepig Limited" is taken, a slight variation, such as "Bluepig UK Limited" would be permitted.

Above all, don't lose heart. I can pretty much guarantee you won't tick all the above boxes first time, but persist and you'll find your dream brand name.

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