CREATING AN EXCELLENT CORPORATE NAME
Business incorporation lawyer for incorporating new commercial business enterprises.
Contact Neufeld Legal PC at 403-400-4092 / 905-616-8864 or Chris@NeufeldLegal.com
Long gone are the days of the telephone book and small businesses naming their company AA Towing Inc. or AAA Automotive Services Inc. to get to the front of the local telephone directory. Instead, in the Internet era, businesses create corporate names that can perform effectively on the worldwide web and are sufficiently memorable and specific to the corporation’s business endeavours. As such, when you are looking to create the optimal corporate name for your new business enterprise, you may wish to consider the following suggestions in its creation.
1. The corporate name should represent what the business enterprise is looking to undertake, whether that is its services or product offering. In the Internet era, searching for businesses is heavily driven by the business name being tied to what the business is offering.
2. If the business is geographic specific, it may be appropriate to include that geographic aspect in the corporate name (such as the city, province, state).
3. The corporate name should be easy to spell and not subject to confusion with one’s competitors (or unrelated businesses), otherwise potential business opportunities and marketing efforts might unnecessarily be lost.
4. The corporate name should generate a positive association with your business enterprise. Given that you want prospective clients and customers to undertake business with your corporation, you want this to be a highly positive engagement, which should be reflected in your corporate name.
5. The corporate name should be attainable as an Internet domain name, given the prominence of the Internet for searching out new businesses and looking into the service or product offerings of a particular corporation. The last thing that any corporate business would want is to direct prospective business to one’s competitors or have prospective customers given up on your business because they couldn’t easily locate it on the Internet.
6. The corporate name should not be misleading or otherwise seek to deceive prospective customers and clients.
7. The corporate name should not violate the jurisdiction’s legislative and/or regulatory prohibitions as to use of certain words or terms in the creation of a corporate name.
8. The corporation’s name cannot copy an existing company name, tradename or trademark, such that even if you come up with an excellent corporate name, be prepared to discard it if it conflicts with a pre-existing name. Your initial assessment can be done on the Internet, with a general search query of the prospective corporate name, followed up by a review of the jurisdiction’s trademark / trade name database and its corporate registry, should it provide access to existing corporate name. And once you’ve settled on the corporate name and undertaking the incorporation process, you will need to either complete a preliminary NUANS, or move immediately to the final NUANS, recognize that the report that you receive back may require you alter your preferred corporate name or risk being subject to legal action.
These are but some of the considerations that can go into creating the corporate name for a new corporation, with the final decision being up the parties involved in creating this new business enterprise.
When you incorporate a new corporation with our law firm, you will benefit from the professional services of an experienced corporate lawyer who understands the importance of devising the appropriate corporate structure for your business operations, planning it for future growth and success, while legally optimizing the Canadian tax system to your commercial advantage. So if you are looking to incorporate a new corporation or deal with the corporate legalities impacting your company, contact us via email at Chris@NeufeldLegal.com or by telephone at 403-400-4092 [Alberta]; 905-616-8864 [Ontario].
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