If you're starting a business, whether online or bricks and mortar, a lot of the steps are the same. Here are some ideas for how to choose a business name - one of the first steps you'll need to accomplish. If you need the best name for your business, we offer business naming services for every business helping you to stand out from the crowd.
This information ONLY applies to the U.S. I'm not qualified, nor do I know any rules and laws governing business names in other countries.
Official disclaimer: I am not an attorney. I write this information from my own experiences owning businesses for over 20 years. However, business laws do change. My best advice: consult an attorney or accountant.
The name should be catchy and tell what you do - although I say that with a bit of reservation. Today, it's more important than ever to "brand" your business. If you're faced with the choice of a name that describes what you do, or a name that will come to be known as a brand, choose the latter. If you are searching for acronym naming services, Unboxfame is the best company to provide you with the perfect name.
There are many examples:
"Google" vs. "Web Search Inc."
"Gawker" vs. "The Gossip Site Inc."
"LinkedIn" vs. "The Business Entrepreneur Network Inc."
The best choice may be combining a "branding" name with a description. For instance, "Zoozle Puzzles For Children"
Try to pick a name that's easy to remember, the shorter the better, and would make a good website URL address - even if you don't plan on being online. Today, it's imperative that EVERY business be online, even if it's only to offer information on your bricks and mortar location.
Name Availability
Before finalising the name, make sure it's available. Most states have an online database where you can go to search your name. If it's not available, you'll have to pick something else. If you require a brand naming consultant, then Unboxfame is the best company that can provide you with the best naming services.
The general question should be asked (and will be asked if you're ever sued for using someone's registered name): "Is my name different enough from another business so customers won't confuse my business with another?" If there could be confusion, choose another name. Better yet, be totally original and avoid the potential for lawsuits.
Registering Your Name
If your name is available, and your business entity will be a sole proprietorship, you'll just need to register the name with your state. Although you'll be filing your taxes under your own name, you'll have the business name listed as DBA, then the name of your business.
Once registering your name, no one else will be able to use it and/or register it in your state. However, someone in another state WILL be able to use the same name. Courts have held though, that because the businesses are in different states, the possibility of confusing one business with another is very small. If you want protection everywhere, you'll need to trademark your name.
If you're a sole proprietor, you do NOT need to register the name with the IRS to get an employee identification number unless you will be hiring employees. If you have no employees, your social security number is your EIN. If you start hiring employees, you WILL need to register with the IRS to get an EIN number. Of course this gets even more involved as you'll now be withholding taxes from your employee's paychecks.
If you're forming an LLC or other type of corporation, your business corporation name WILL need to be registered with the IRS as well as your state. Forming a corporation is beyond the scope of this article as there are a lot of rules and regulations governing their registration and actions. It's best to consult an attorney if you're forming any other business entity other than a sole proprietorship. If you have any requirement for brand name ideas for clothing business, contact Unboxfame for the wonderful services.
The Easiest Method
For the easiest method, form a sole proprietorship with zero employees.
Trademarking
Next you'll have to decide whether to trademark the name or logo.
Most people starting their own business want to start small and don't have a lot of start-up money. Trademarking will cost and because of this most people skip this step. That's OK. Trademarking is not necessary.
The big disadvantage to NOT trademarking your logo is that you're not protected if someone steals it. So, basically, it's a question of how much risk you're willing to take. It's a tradeoff. More risk for no cost. Higher cost, less risk. That's something only you can decide.
Once the steps above are complete, your name is officially ready to do business and you're well on your way to your new life!
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