A brand name is the major asset of a business. A name carries the goodwill of the business to the customers and potential clients in the market. A brand name is the biggest identity of a business and stays put with the business as long as it exists. Pe
Submit & Reserve Proposed Names for new Business
A brand name is the major asset of a business. A name carries the goodwill of the business to the customers and potential clients in the market. A brand name is the biggest identity of a business and stays put with the business as long as it exists. Perhaps, that’s the reason why the Companies Act, 2013 and the Companies (Incorporation) Rules, 2014 go a long way in enforcing the rules that are to be abided by the businesses while naming their companies, whether it is a private limited company, an OPC.
1. Your business name is the cornerstone of your brand
Nike. What’s the first thing that comes to mind when you say that name? Is it the iconic “swoosh” logo? The slogan “Just Do It”? Their clothing or shoes? Or what about the Greek goddess of victory that they named themselves after? Nike took a concept like victory, created a brand, and named their company after it. Their brand represents the purpose of the business, what they stand for, and how their products help their customers become “victorious” in the gym or during sports. Through their name alone, they have molded their brand identity.
2. Your business name helps you stand out from the crowd
Today there is no shortage of companies started by entrepreneurs. To your potential customers, you and your competitors all look the same, at which point the only thing differentiating you is the name of your company. Your business name is how your customers will identify you initially. So if you have a unique and memorable business name, you will be miles ahead of the competition.
3. Your business name will ultimately help you to increase sales
Strong brand names create customer loyalty. Think about the company Stanley Steemer. Its name often comes up in conversations about floor and carpet cleaning many people have heard of it from their commercials. They have a jingle that goes: “1-800 STEEMER, Stanley Steemer gets carpet cleaner!” The name is catchy, easy to remember, and ties in with the brand’s purpose. That makes it memorable and increases sales because people will instantly think of the company when they need their carpets cleaned.
Memorability should be your main goal when it comes to choosing a great business name. You want to make a great first impression great first impression on your customers the moment they hear it. A weak brand name will fail to capture the attention of customers and will negatively impact your overall marketing efforts.
4. Your business name makes it easier to attract talent
A great company name will no doubt increase sales and retain customers. However, one often overlooked benefit for the company is how much easier it becomes attracting great talent once the brand name has been established.
Take Facebook for example. Did you know that Facebook was originally named “TheFacebook” back when it was only available to Harvard students? It quickly dropped the “the” and branded itself as simply “Facebook” before it hit mainstream—and then we all know what happened after that. Facebook has become known for its incredible benefits: snacks at the office, excellent health insurance coverage, wellness allowances, generous family leave policies, and more. Cut to today, and Facebook is one of the most desired employers. Having such a strong name in the market has made the company a prestigious place to work and it has no problem getting the best of the best.
The following factors must be tested out while coining the name of the company:
Check for Plurals: If the name chosen for the company is merely the plural version of an existing name, then the name is not considered unique. For Instance, if the name of a company is ‘Novotel Gear Private Limited’, then the name, ‘Novotel Gears Private Limited’ is not unique and will stand rejected;
Spaces Between the Words, Punctuations, Letter Case, etc.: Making alterations to the letter cases or the spacing between the words or to the punctuation marks in an already existing name does not render the name unique. If the name of a company is ‘Intel Sports Private Limited’, then the name, ‘Intel Sports Pvt Ltd’ or ‘INTEL SPORTS Private Limited’ are not unique and cannot be registered;
Combining or Disjoining the Words: Arriving at a name by joining or detaching the words of an existing brand name will not be considered a new or unique name. If the name of a company is ‘Novotel Gear Private Limited’, then the name, ‘Intel Sports Private Limited’ or ‘Intel Sports Private Limited’ will not be granted approval;
Change in Tense or Wording a Number in an Existing Name: In an attempt to come up with a new name for the company, if the business owner merely plays around with the tenses of an existing brand name or changes the numbers in the name to words or vice versa, the resulting name would be rejected. If the name of a company is ‘Intel One Sports Private Limited’, then the name, ‘Intel’s One Sports Private Limited’ or ‘Inteltel 1 Sports Private Limited’ will be rejected on the basis of lacking uniqueness;
Variations in Phonetics or Spellings: Merely resorting to minor changes in the phonetics or spellings of a brand name that is in use would not make the resultant name novel or unique. For instance, if the name of an existing company is ‘K.L.K Private Limited’ and if a company comes up with the name ‘KE.EL.KE Private Limited’, the name will stand rejected.
Purposely Misspelled Names: If the words in the name of a private company are merely altered or misspelled, the resulting names will be checked against the originally registered names for uniqueness and will be rejected if the name bears similarity to the former. If the name of a registered company is ‘Content Entertainment Private Limited’ and if another new business comes up with the name ‘Conttent Entertainment Private Limited’, the latter will be disapproved although there is a variation in the spelling of the names.
Addition of Internet Related Domain Names: Making alterations to existing names by barely adding internet-related domain names such as .com, .net, .org etc cannot be considered for the purposes of registration. For instance, if the name of a registered company is ‘Content Entertainment Private Limited’, coming up with a name like ‘Content Entertainment.com Private Limited’ will be dismissed.
Inclusion of Common Titles: Adding words like The, Modern, New, Shri, Sree, Om, Jai, etc does not make the title unique. For instance, if the name of a registered company is ‘Content Entertainment Private Limited’, the name ‘The New Content EnterainmPrivate Limited’, is not considered to be unique.
Affixing Names of Places: The addition of names of countries, cities, or other geographical locations to an existing name will not make the name unique. If the registered name is ‘Magic Movies Private Limited’, merely adding the word, say, India to it and making it ‘Magic Movies India Private Limited’ will not make the name pass the test of uniqueness.
Reversing the Combination of Words: rearranging or reversing the order of words in an existing title cannot be considered as uniqueness. For instance, if the registered name is ‘Packers and Shakers Private Limited’, changing it to ‘Shakers and Packers Private Limited’, is not considered to be unique.
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Yes, however, certain requirements must be met in order for it to not constitutes trademark infringement and to determine which party is the rightful owner of the name.
Stay away from complex names: Don't use unusual or overly long words in your business name. Keep things simple and straightforward. Avoid short-term trends: Trends are always changing. Your business name should not be beholden to any trends.
The owner of a company often needs to reconsider his or her business name if someone else registers the name through a trademark to protect it legally in the state or nationally.
It is the first impression for business owners and investors. Investors like to select businesses for their business potential but some also look at the qualitative factors like marketing and the correct business name. The right business name can also help in differentiating you among potential investors.
Trademark. A trademark can protect the name of your business, goods, and services at a national level. Trademarks prevent others in the same (or similar) industry in the United States from using your trademarked names.