What's in a Name?

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That's the mysterious, magical part of the name game. There are more prosaic details to consider as well. According to Frankel, one of the biggest mistakes entrepreneurs make is to come up with only one name, fall in love with it, and tell tons of potential clients about it--all before checking the availability of trademarks. A long list of options is key, he says, because it's likely that many of your choices have been taken. When searching the list of fictitious names (also called "doing business as," or DBAs) for your county and looking for names in your "class" (or industry) on the U.S. Patent and Trademark Office website (www.uspto.gov), be sure to look up variations on spellings, too, because names that sound alike can't be registered in the same class. Also check Register.com to see which Internet domain names remain available.

The easiest names to trademark are made-up ones, such as Accenture and Altria. Generally, these names are what Frankel refers to as "empty vessels": Because they don't really mean anything, they're blank canvases that allow you to paint any picture that you like. Such names can work well, but bear in mind that painting that picture takes advertising and marketing (Read: lots of money). Names like Apple Computer or Caterpillar Inc., by contrast, are full of meaning and make subconscious connections in the minds of customers. These two examples are also arbitrary words that really have nothing to do with computers or construction equipment--which makes them easier to trademark.

What worked for those corporate giants has worked for any number of start-ups--such as RetroBox, a reseller of used computer hardware in Columbus, Ohio. When he founded the company in 1996, founder Stampp Corbin and two of his vice presidents sat in a closed room and brainstormed. They eventually settled on a truncation of two words: retro, which evokes something old yet cool, and box, techspeak for both desktop computers and servers. Despite their enthusiasm, it didn't immediately catch on. "At first it was difficult because we didn't have a straightforward name like Technology Recycled or IT Disposal," Corbin says. "People would say, 'What the heck is RetroBox?'" Corbin responded with an ad campaign, sending mailers and making lots of phone calls. RetroBox, it turned out, was a name people remembered. "Now it's an advantage," he says. "We're very distinct." Corbin did the right thing by sticking it out, says Landor Associates' Shore. Far too many entrepreneurs choose purely descriptive names, ? la IT Disposal, which do little to set them apart from the competition. On the other hand, a descriptor at the end of the name can help customers figure out what the company actually does.

Naming experts are also wary of eponyms because they stake the company's reputation on the founder's personal reputation. While this can help to establish trust, it can become a liability (ask Martha Stewart's investors). Rick Bragdon, of the naming firm Idiom in San Francisco, also shuns acronyms and initials. "A meaningless string of letters is not very friendly and fails to inspire," he says. "It looks like somebody gave up." Names that are built around geographic locations can also be limiting as you outgrow your city or state.

And don't be discouraged if your name fails to communicate everything you had hoped. "In reality, you end up with about four to nine letters," says Placek, "and they can really only convey one or two things about you." Above all, great company names only enhance and cement a firm's image in the minds of customers. As Shakespeare said: "A rose by any other name would smell as sweet." If your company delivers a great product or service, people will seek you out. Even if your name is Mxyplyzyk.

Naming 101

Ask the Right Questions
What is your mission? What is it like to do business with you? A good name should reflect those things.

Have a Backup Plan
Carefully check trademarks. Chances are, your favorite choices already have been taken.

Avoid Acronyms
A meaningless stream of letters is hard to remember--and never inspired anyone.

Web Exclusive

On Naming Your Business, and Getting It Right
What you name your business often can determine how much attention you'll get from customers. Alex Frankel, author of a new book about naming companies, shares his tips for picking a name in this Q&A.

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