Steps to select an appropriate Company Name

The company name is the biggest asset of any business. The name of the company gives the first impression to the world that is why it should be attractive and alluring. It helps to create the customer base and therefore one shouldn’t keep an unplanned name for its company. 

Mentioned below are guidelines to select an appropriate company name.

1. Short and Simple

The Company name should not be too long, always try to keep it simple and small. So, people can pronounce it easily and can remember when they come across it.

2. Meaningful

The company name must be meaningful and relatable to the nature of a company. It should fit the company’s brand portfolio.  For example, “Google” the name of the most common search engine is derived from the name GOOGOL that means 1000000 (with a thousand zeros).

3. Unique

The name of the company should not be the same or identical to an existing company. Uniqueness does not mean:

• The plural version of the name of an existing company cannot. For example, one cannot name the  company as “Flipkart’s”
• Changing, Letter Case, Spacing, or Punctuation marks in an existing. For example, one cannot name the company as  WI-PRO as a company called WIPRO already exist.
• Spelling Variations in an existing name. “Adidas” not be an authorized name as it is similar to “Adidas”.
• The addition of common names or titles. “New Tata Motors” cannot be the name of the company.

In the case of name infringement, one will be liable to pay high penalties and fines.

4. Suffix

The name of the company should end with the suffix “Pvt. Ltd”. It indicates that the company is a private limited company which will have limited liability.

5. Non-Offensive

A company name should be chosen that is neither offensive nor defamatory. It shouldn’t be against the customs or beliefs of any religion and not hurt the emotions of any individual.

6. Financial Companies

Companies dealing in financial activities, must not have financial names like “loan” or “finance” etc.

One has to be cautious while deciding the company name. Always try to select a suitable company name so that customers will connect to it.

To get Private Limited Company Registration in India, contact Company Registration Online

Related:

Convention for approval by MCA for Company Name

FAQs Company Registration