What’s in a Name? The success or failure of your business may rest on the selection of a name. It must be easy to pronounce, spell and remember. Since many of your customers will find you online, your name must also lend itself to such searches.
Business branding includes many elements such as logo, color choices, and unified packaging. Selecting a great business name is your first step toward branding or developing a winning business 
persona. Business names should provide clues as to what products or services are offered. This is true for traditional branding where most customers walk into your store. It is even more important in today’s market where much or all of your business transactions will be done online. When writing a list of synonyms for your products or services, select words that online customers are most likely to search and physical shoppers will be able to associate with your product or services.
When selecting your name, consider the connotations and mental pictures associated with words. Do you want your name to create the perception of toughness and strength, softness, or cutting-edge? What words are most likely to appeal to your target market demographics? Consider global connotations. Words may have positive connotations in one culture but negative in another.
A business name needs to be easy to spell and remember. Unique spelling to create clever alliteration may look interesting on your marquee but may make finding your business online or in a phonebook difficult.
Consider how the name can be adapted to an eye catching logo. If the name is extremely long, it may not lend itself to a highly recognizable logo. You may consider making part of the name a tagline rather than part of your actual business name.
Searching the state registry of business names has multiple purposes. First, it helps you get a feel for what names are evocative and memorable and which are confusing. It will help you determine if your name has already been registered by another business and, therefore, not available. Another name may be so similar that it causes customer confusion. The Illinois Secretary of State web site provides a search site for corporations in good standing within Illinois. The U.S. Patent and Trademark Registry is also searchable.
Registering a business name may be mandatory. If your business name does not include last names of all owners, it is considered an Assumed Name and must be registered. Even if registration is not mandatory, it will protect your name from infringement. The Illinois workNet Business Portal provides links and forms to help you register your business name.
Registering or buying a Domain Name is also imperative for success. Even if you do not plan on developing a web site immediately, securing a site name which includes at least part of your business name will be invaluable. Having to select a web domain name different from your business will make locating you online confusing for customers.