The naming of your new business or product is one of the most important business decisions that you will make.
The name of your new venture will be its never changing face. People will be more likely to react, remember and talk about a distinctively named enterprise compared to a nondescript name. A name's originality and legal availability will create a real asset value of its own, as it is marketed and gains a foothold in the marketplace. The name you choose will become the focal point of all the benefits and features that relate to your product or business. Potential customers will celebrate a well-named business. A well-chosen name will provide an extra marketing advantage, that could mean the difference between failure and success.
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Established products or businesses realize the value of customer good will. A memorable trade name will greatly enhance its word-of-mouth value. In time, as trade names gain customer awareness, the value of that name's trademark will become an asset unto itself. Companies go to great lengths to protect their trademarks. At the zenith of consumer acceptance of a trademarked name a company will achieve famous name rights and thus become protectable against any usage, in any class of goods or services. |
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