Choosing the Right Name for My Company
Almost a year ago I thought of a name for my new company. VelocityPath. I registered the URL and thought it sounded somewhat cool. I briefly mentioned this in a previous post, but I thought I should expand on my experience. So what does VelocityPath mean? Is it a graph of an objects velocity? Does it have to do with speed or motion? I have no idea. Speed and motion are good attributes for a company, but when it came time to choose the legal name for my company, this wasn't going to do it. Maybe it might work for some other venture, but not for what I'm doing. Coming up with a name that describes my business, and wasn't already been taken, was difficult task. After reading a lot of advice online I finally came up with a name. In coming up with a name I followed these rules.

Rule #1: The name can't be in use by another company. Perhaps I could get away with using a name that might be used by another company in another industry, but why take any risk. Once you have a name in mind, check out the US Patent & Trademark site and do a search for any trademarks that make use of the name. Then check websites for the Secretary of State in the states where you plan to do business. So I could be doing business in a lot of states I just did a random sampling and also included my own state's site. Most state sites have a search for looking up registered companies.

Rule #2: This may sound weird, but I've read in several sources that it's good to have a company name that starts with either A, B or C. Why? Because the business is going to be included in lists and directories. Maybe not right away, but some day it will. Being closer to the top of any list or directory isn't going to hurt. And if you're picking a new name, why not follow this advice. Of course it makes picking a name that much harder.

Rule #3: Pick a name that has something to do with your business. My VelocityPath example breaks this rule (along with rule #2). There should be some connection to what you do. Of course, if you can pick a short, one word name, you might be able to avoid this rule. Yahoo, Google, Kraft, Pepsi... But there aren't too many more short names available.

So I picked Content Driven Solutions as my business name. If you don't know what my business is, then I know what you're thinking at this point. It passes rules #1 and #2, so how does it pass rule number 3? The main focus of my business right now is to launch apartment search sites at universities across the country. I get my revenue by selling advertising that is geared to highly targeted audiences, and I do this by letting high quality content attract this audience. Therefore the content is driving the solutions. Expect of course for the merchandise sites, but those are more side projects that earn a little revenue.

I might be a little happier with a shorter, catchier, sexier name, but Content Driven Solutions does what it needs to do. Plus I'm not looking to make the name a national retail brand. If you happen to be looking to create a national retail brand I suggest bringing in the professionals to help you get started off right. I don't have a site built yet for Content Driven Solutions, but I expect to have something up at www.contentdrivensolutions.com and www.contentdrive.com soon. I also registered both under .net and .org as well, just to make sure I have a lock on the name.
- posted by Drew @ 6:30 AM