This one’s for you small business owners out there starting out. So you’ve come up with a great business idea, done your analysis both internal and external and now it’s time to come up with a business name. However, as whizz bang as the name is, it’s just not enough to check if the business name is available. You’ll also need to check whether the domain name is available as well as run trade mark searches on your potential new business name.
Like the saying goes: You only get one shot at a first impression. Imagine going to market and then having to involuntarily switch the name of your business shortly after receiving a dreaded cease and desist letter. Even if you’re able to cut a deal for a business name, a trade mark or a domain name the amounts involved can be in the 5 or even 6 figure sums. Trust us, we’ve had to lead those negotiations!
Once you’ve come up with that whizz bang name for your business be sure to run a number of searches including not just business name but also domain name availability and trade mark searches as well. Often a simple Google search will at least get you on the path of seeing who else is already using your proposed business name.