Business Plan Tutorial: Choosing a Company Name

Business Plan Tutorial:
Tools to Help You Launch Your Own Business

Choosing a Company Name for the New Business

Choosing a company name -- unless you are using your own name as the business name -- takes some creativity, research, and paperwork.

In choosing a company name, you want something that is catchy, memorable, and relates to the purpose of the business. For example, Speedy Clean Dry Cleaners sends a message to your prospective customers that you clean garments quickly.

You'll also want to conduct some research -- both on what you need to do to register your company name (depending on how you choose to operate) and also to make sure you are not using an existing name that is already registered or trademarked. You can do the work online, but you may also want to hire a firm to do all the necessary work involved.

Finally, the paperwork. At the very least, if you are a sole proprietor, you'll need to file the name of your company with your state -- as doing business as. These names are called fictitious names -- and there is usually a fairly simple form and process for registering it. For partnerships, corporations, and limited liability companies, there is much more involved with choosing and using a company name (as well as other paperwork).

Lost? Go to the Map of the Business Plan Tutorial: Tools to Help You Launch Your Own Business.

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