Coming up with a new company name can seem like an easy task.
It’s only one word or a few words after all.
But there are a number of elements you can consider and company names do not have to use the same formula.
Naming your company
Some companies for example use simple but memorable names with a reason behind them.
Nike is the Goddess of Victory in Greek mythology.
Google comes from ‘googol’ which refers to a specific large number.
Other companies use abstract names – Twitter for example – while others, such as British Airways, use descriptive names.
At the moment the trend is for unique and somewhat quirky names such as Uber and Slack.
We have listed a great top 5 list of tips on choosing your company name and while you’re running through this we would recommend you also think about trade marks at the same time.
As without a trade mark, the company name remains an unprotected asset unless there are exceptional circumstances.
What is a Trade Mark?
A registered trade mark is legal protection for your company’s branding.
It can be a word, logo, slogan or anything which uniquely identifies your company.
What Do I Need to Do to Register a Trade Mark?
Trade marks have a specific criteria which need to be met in order for it to be registered.
In most cases, if not all, the trade mark is a company name. To get registered, it has to be unique and distinctive.
When thinking of registering a trade mark, the first question you need to ask yourself is “will my sign (word, logo, slogan, etc…) be seen by the general public as a trade mark?”
This is what the United Kingdom Intellectual Property Office (UK IPO) will consider when examining a trade mark application.
Where is a Trade Mark Registered?
Trade marks are also territorial in nature.
If you were to trade only within the UK for example, then you would register a trade mark in the UK with the UK IPO.
Before filing a trade mark application, you need to check if the trade mark is available in the country or region of interest to you.
Should an identical or similar sign already exist in the trade mark database under the same classification, your trade mark might not get registered.
The owners of those earlier trade marks may therefore file an opposition to stop you from getting registration.
That is why it is always recommended to check the appropriate register before filing and consult with a trade mark attorney.
How Does a Trade Mark Benefit a Company?
A trade mark gives you exclusive rights over a name, logo or slogan in relation to specific goods or services.
For example only Kentucky Fried Chicken (KFC) can use the slogan ‘finger lickin’ good’ for its fast food.
Anyone else who uses it without permission is infringing their trade mark rights and would be liable to pay damages or profits earned to KFC.
This is one of the main reasons why you need to register your trade mark.
What Can’t be Registered as a Trade Mark?
There are certain signs which are completely unregistrable as a trade mark. When coming up with your business name, you should therefore avoid the following:
- A general description of your goods or services. For example ‘warm thermos’;
- A description of your goods’ or service’s characteristics. For example ‘light vacuum’;
- A lack of distinctiveness in a sign. For example ‘band-aid’; and
- Names which are customary in the language of the trade. For example ‘Panadol’.
From a name to brand
Coming up with a company name is just the beginning of a brand.
With the right name, and the right effort, the name can become a recognised asset of the company. This is why it must be simple, unique and distinctive.
All qualities needed for it to be registered as a trade mark.
Before You Go …
When choosing a company name you may also have to think about ‘sensitive words’ depending on what name you are thinking of.
Check out our next article to find out what these are and why you need permission to use them!
What Words Can You Not Use For Your Company Name? Be Sensitive!
