Over the years, you may have considered starting your own business many times. However, something was always holding you back. The timing may have been off, or you may not have had the financial security to take such a risk. You may have experienced an unplanned life event like a serious medical issue or, on a more positive note, the birth of a child. Nonetheless, you now feel that the time is right to start your company.
One aspect of business formation that you may have had in mind from the beginning is what you will name your company. Many people find choosing the name of their business to be one of the most exciting elements, but you may want to keep in mind that it can have its difficulties.
What should you consider?
A lot of time and effort can go into finding the right business name. Even if you already have your heart set on a particular name, you could end up disappointed if another business already has that name. Researching for this possibility is only one step involved with choosing a business name, and some others include the following:
- Choosing a name that is descriptive
- Deciding on a name with good visual and oral impact
- Having alternatives in mind in case one name is already taken or otherwise unavailable
- Taking time to find the right name rather than going with the first one that pops into your head
- Choosing an easily pronounceable and understandable name
- Refraining from using profanity in a company name
- Considering how the public could shorten the name and whether any negative impact could result
- Avoiding trendy names that could later appear outdated
- Using a relatively short name
While these aspects could help you find a name that could appear and connect well with the public, you also need to consider the legalities of picking a particular name.
How can you secure your business name?
Once you believe you have a few names that could work for your company, you will need to ensure that there are no trademarks or other protections for the names. Additionally, you will need to file the appropriate paperwork with the state of Tennessee so that you can register your business and legally operate. Because other legal steps are also involved, you may find it useful to enlist the help of a business law attorney.