Why Naming Decisions Regarding A Small Business Matter
Names are pretty simple things at first glance. However, they play a very big role in our world, and what something is named can have some significant implications.
One context in which names can be particularly impactful is the small business world. What a small business is named can have all sorts of implications, potentially impacting things like what potential customers’ first impressions of the business would be, what audience might be particularly drawn to the company and whether a business is getting through to its target audience.
So, among the decisions it can be important for small business owners to give careful thought to when starting a business is what to name their business. Among the things a business owner may want to think about when considering a particular name for their business are:
- How easy it will be for people to say and write the name.
- What sorts of images and ideas the name invokes.
- What audience might be particularly drawn to the name.
- Whether the name is consistent with the image they want to project for their company.
- If the name will stand out.
In addition to practical issues regarding how good of a fit a name would be for a business, another thing it is crucial for business owners to give proper attention to when making business name decisions is legal matters. Not giving adequate attention to legal matters related to a business name, such as whether a particular name could potentially infringe upon intellectual property held by other companies (like trademarks), could potentially lead to a company facing litigation in relation to their name choice.
Now, decisions regarding what to name their company are not the only naming decisions that can potentially have significant practical and legal implications for business owners. So too can naming decisions like decisions on what to name a company’s products.
When a business is facing intellectual property litigation in relation to a naming decision it made, how it responds to the litigation can have considerable ramifications. So, when facing allegations of having infringed on another company’s intellectual property through a name it uses, solid legal guidance can be a critical thing for a small business to have.
Source: USA Today, “How to name your small business: Keep it short and sweet,” Benjamin Pimentel, May 6, 2016