Naming a business in Illinois

Starting a new business in Illinois can be an exciting process. One of the key elements that may affect the success of a new business is an attractive and memorable name. Choosing a name for a business involves as much creativity as it does research. The process of choosing a business name usually takes several steps.

The name of a business is like an introduction to potential customers. An appealing, memorable name may influence customers to check out a new business. While it is certainly possible to create a great business name without any help, looking for some professional assistance may be a smart idea. Professional naming companies will spend months working with entrepreneurs and can provide services like graphic design and market research.

It is important to choose a name that reflects the nature of a business. For example, a technology company may want to choose a name that reflects efficiency and power. A pet salon may want to use a name that showcases a love for animals. This will help potential customers understand the nature of the business.

After settling on a few potential names, it is also important to do research. Using a name that has already been trademarked by another company could be disastrous. A lawsuit for trademark infringement could end up costing a new business owner thousands of dollars at a time when every penny counts. No matter how appealing a name might be, it is best for a name to be truly original.

Small business formation is a challenging process. Planning business strategies and making sure that regulations are being followed can be a huge undertaking. An attorney may be able to help with this process by offering advice and guidance on tax laws and local business regulations.

Source: Entrepreneur, "How to Name a Business", December 21, 2014

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