What’s in a name

What’s in a name?

Do you recall the first episode of The Apprentice? The group has been divided into two teams and the excited corporate hopefuls are spending most of their time on the first task choosing a team name. Ideas like “Synergy” or “Velocity Ventures” abound, as the group search for a word that conveys success, strength, dynamism and, hopefully, impresses Lord Sugar.

Choosing a name for your own business, or new business division, product or sub-brand, is an exciting step in any venture. Your name can become a key asset so in this note, we set out some pointers to consider before you launch full steam ahead with the new name to save you from branding headaches further down the line.

From name to brand

Your business name is your calling card – it is the first impression you give to potential customers, partners, and suppliers. Over time, your name can become shorthand for your values and so it should be a good one that sticks.

It might be tempting to pick a name that is clearly linked to the products/services you provide – perhaps “soapy suds” for a new range of soap or “Superior SaaS” for a new SaaS platform —but tread carefully. While descriptive names such as these quickly communicate what you offer, they can be tough (and expensive) to protect legally.

If you are hoping to protect your brand as a registered trade mark, strong names tend to be:

• Fanciful or coined words: Some of our best-known global brands have names that are entirely made up – think “Kodak” or “Google”. Made-up words with no dictionary meaning. Because they are unique, they can make for powerful brands that are more difficult for competitors to get close to.
• Arbitrary words: Things like “Apple” for computers or “Amazon” for books (as then was!) are unexpected and quickly memorable.

There is also a strategic middle ground where your name hints at what your offer without spelling it out. Great examples of these are brands like “Netflix” or “easyJet”. Although they are instantly recognisable now, remember that these brands have grown over time (and with significant marketing investment) and were less strong in the early days.

Scoping out the competition

Before getting too attached to your new name, do some research as to who else may be using the same or a highly similar name:

• Run some internet searches with your name to see what comes up. If there are various existing businesses using the same or similar name in a similar field or worse, industry giants, you might need a rethink (unless you’re prepared for a David vs. Goliath legal showdown, more on which see this article by Kate)
• Check trade mark databases for existing trade mark registrations in your “home” country as well as any key territories you are looking to move into
• It can be incredibly frustrating for your fledgling brand to take flight in the UK and start gaining brand recognition, only to find that you can’t use the name in your first international market and you are left scrambling for a sub-brand (not that a sub-brand is necessarily a bad idea, for example if cultural sensitivities mean your core brand would not land well)
• The Intellectual Property Office in the UK provides a free to use simple search service for you to check for identical or highly similar trade mark registrations in the UK
• Confirm your new name is available at Companies House (in the UK). If you already know which markets you would be looking to expand into, also think about some initial checks in key territories. Different countries have different naming rules for companies and from a marketing perspective, you don’t want your name to convey an unintended meaning in another country!

If you find a potential clash, it’s a good idea to seek legal advice to assess the risks and discuss appropriate next steps. There is far more room for manoeuvre if you do searches early, rather than the day after you take delivery of a full range of branded merchandise.

The global market

So you have landed on an imaginary name which fits your business like a glove and it doesn’t look like anyone else is using it, great! Now what?

Before going public with your new name, secure key matching domains and social media handles. Increasingly, it is now also important to consider whether your name works as a social media handle or is there a snappy abbreviation that can be secured?

It can be easier to secure the domains and social media handles before a name is public (so even before registering a company name). And, if a key domain or social media handle is already in use, you can still change your name without incurring costs.

A stitch in time saves nine…

Being proactive with some early searches can reduce the risk of walking into a legal issues further down the line, such as:

• Realising the name you have invested in can’t be legally protected across your key markets
• Not being able to register your name as a trade mark at all or in respect of all of the goods and services you provide
• Getting hit by trade mark infringement claims and being forced to rebrand
• Damaging your reputation with a sudden branding U-turn

Once you’ve got the green light on your chosen name:

• Make it official: For a new company name, register the company name according to your local laws
• Trade Marks: Consider applying for trade marks (and potentially design registrations) to secure your name and/or logo
• Markings: Before you have a registered trade mark, you can use the ™ symbol to indicate to would be copycats that you are claiming rights in your name. For registered trade marks, you can use the ® symbol
• Claim your digital space: Lock down your preferred domain names and social media handles. This helps solidify your brand identity online and helps prevent impersonation

If you’d like help or guidance on this area, please feel free to get in touch