Starting a new company is one of the most exciting and exhilarating things to do, but it also comes with loads of responsibilities. Those first few decisions determine the entire future on which your company rests.
One of the major steps towards a quality formation of a limited company is the name it is given. After all, you will have to stick with that same name for a long time.
The name becomes an irreplaceable identity which determines the course your business takes. Hence selecting the perfect name takes up a long time.
The most important point to remember is the name must stick with the customer. However, there are some restrictions on your creative side.
Every country has its own rules and regulations when it comes to naming a company. Below are some of the rules that you will need to follow no matter where you are.
Should be Unique
It goes without saying that the name has to be unique so that your customers do not get confused.
Apart from not wanting the customer to be confused in this digital era, another important factor is the domain name. We all want a perfectly designed website to attract the eyeballs, but the name of the site also has to be good.
However even from the point of view of getting your company registered you must ensure that the company name is unique. In the sense, a company with the same name does not exist.
Of course, the rules say that you can you the same name of a company that no longer exists, but you will be advised to do extensive research about the pervious company.
You do not want to be associated with a company that had shut shop because it got into legal battles or because it made really bad products.
End with Limited or Ltd.
Depending on the type of company you are planning to register you will have to add Ltd. or limited at the end of the name.
Also depending on the place the company is located the suffix might change from Ltd. to Cyf. for example in Wales.
Selecting a name can be very tricky. You need to research a lot and understand about many different cultures depending on your long term goals.
However apart from not wanting to offend anyone if your company name seems offensive to those registering it you might have to anyway change your name.
Hence research a lot and keep in mind these three aspects to make sure you don’t offend the authorities or your stakeholders:
- Not hurting religious beliefs
- Don’t offend any country’s sentiments
- Don’t be chauvinistic
It is of course very difficult to come up with a name that doesn’t offend any of the 7 billion people but definitely keep in my all you current and future stakeholders.
No Signs or Symbols
One restriction on the company name is that certain characters, signs, symbols and punctuation are not permitted.
Without Sensitive Words
Permission is required in case your company name has any ‘sensitive’ words or expressions.