When selecting a business name, include in your market research:
- The response of potential customers to the potential name. Is it favorable? Is the name easily recognized?
- Other businesses or entities using that name or something similar.
Register your business name.
Be sure to protect your name by registering it. Trademark registration, achieved via the U.S. Patent and Trademark office, protects your name at the federal level. Learn how to register as an entity in your state by reviewing their requirement (See Look up your state” menu on sba.gov’s “Register your business“).
Your Website Domain Name:
You will also need a presence on the internet. Selecting a domain name may affect your selection of a business name and vice versa. Find a domain name for your website that corresponds to the business name. Make sure no one is using a similar name or the same name with a different file extension. It should be fairly simple, catchy, obvious, easy to say out loud, and easy to remember. If a social media presence will be important for your product, check to make sure the domain name or a truncated version is available on social media platforms.
Doing Business As (DBA):
Depending upon your business structure and local laws, if the name of your business is different from your name (or your partner’s name) you may need to file a “Doing Business As” name. Depending upon where your business is located, you may file via a local or county clerk’s office or a state agency. The fee is around $100.
Resources on Business Names:
Choosing a Name for Your Life Science Company, Product, or Service – by David Chapin, Forma Life Science Marketing 2014. Includes a discussion of what to consider and 8 steps that end with selecting a name.
The Ultimate Guide to Choosing a Business Domain Name by Georgia McIntyre, Fundera, 11/19/2020.
Read more at: DBA “Doing Business As”: What is it and how do I register? – Small Business Administration/Nerdwallet