How to Pick the Best Name for Company Registration

The company's name is the first identity that reaches out to your customers. Therefore, picking the best name for company registration becomes extremely crucial.

 

Most important qualities of a good company name :

 

1. Uniqueness
2. Broad enough to include future expansion of the company
3. Should not be misleading

 

Note : Company name can be the same or different from brand name. 

 

For example : Naukri.com is owned by InfoEdge pvt ltd.

 

3 Steps to Select the Best Name for Company Registration

 

Firstly, it is tough to succeed as a small business in this competitive market. Moreover, it is hard to make people remember and recognise you most of the time.

 

Choosing a name involves technical factors and legalities, which can bring unwanted conflicts if avoided.

 

Thus, here is the step-by-step process to guide you in choosing the best name for company registration and reserving it for your business: - 

 

Step 1 - Brainstorm for Name Ideas

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The four most effective ways to find the best name for company registrations are:

 

• Word Dump: - Keep in mind that your customers understand what is your business from your name. Thus, think about your business and list all the words that come to your mind. Do not be analytical here. As a result, you will have a whole list of words related to your business in an hour.

• Use Thesaurus: - Now, use this amazing website to find synonyms of the words you listed earlier.

• Add Prefix or Suffix to the Names: - Further, you can add suffixes and prefixes to the words and synonyms to make them more unique.

• Misspell: - Lastly, this trick works every time to make a business name stand out from competitors. It makes the name unique and your business cool.

• Using Business Name Generator Tools.

• Use foreign translations.

 

The naming process should start with an interesting and creative step. For this purpose, sit down alone or with some creative people.. 

 

Before selecting the perfect name for your business, you need to come up with some idiotic names as well.

 

Who knows, the name you thought stupid takes your business to unexplored heights.

 

Therefore, list down all the names that come in the talk.

 

 

Step 2 - Shortlisting

 

Here is where you require your analytical skills. Shortlist the best names for company registration from the long list.

 

Trust your instincts and taste for shortlisting. 

 

Strike out the word you hate and find it similar to an existing one or anything that is not clicking right.

 

Now analyze the results.

 

Check the names on the following factors: - 

 

• How will the audience perceive the name?
• Does the name relate to your business?
• Is the name easy to remember?
• Is it catchy?
• Is the name easy for people to pronounce?
• Does it sound attractive and appealing?

 

Now, after doing this filtration, you may have been left with 3-5 names or maybe 2 or even 1 at least.

 

So, you did a whole lot of effort to come up with these names. Thus, follow the next steps to protect the name and reserve it for your business.

 

Step 3 - Company Name Reservation

 

As we have covered the creative part, let us come to the legal aspects.

 

Before applying for company registration online, submit an application for a name reservation.

 

In the name reservation application, you can propose to reserve a maximum of 2 names.

 

Fill out the form on the right to reserve your company name.

 

The government fee for a name reservation application is Rs.1000/-.

 

Generally, you will receive name approval within 48 hours.

 

After that, the name you have reserved is valid for 20 days.

 

Besides, to get approval from the MCA (Ministry of Corporate Affairs), the name has to be unique and descriptive.

 

Therefore, if you want that name for your business, apply for company registration online within that time period.

 

In case of any delays in registration, you can file for a validity extension application.

 

The fee for that is as follows:

• 20 to 40 Days - Rs. 1000
• 20 to 60 Days - Rs. 3000
• 40 to 60 Days - Rs. 2000

 

However, all the registered company names must carry the suffix "Pvt Ltd" along with it.

 

Guidelines by MCA for Company Name Registration

 

• The existing company names cannot be made plural and applied for registration.

 

For example, if there is a company registered as "Cake Bake Pvt Ltd", you cannot apply for "Cakes Bakes Pvt Ltd".

 

• A company name will not be considered unique by adding or removing space, punctuation, or case of letters.

 

For example, the company name "Cake Bake Pvt Ltd" cannot be made "cake BAKE Pvt Ltd" or "cake bake Pvt Ltd".

 

• You cannot join or separate already existing names.

 

For example, the company "Cake Bake Pvt Ltd" cannot be "CakeBake Pvt Ltd" or "Cakebake Pvt Ltd".

 

• You cannot add numbers or tenses to existing names to distinguish.

 

For example, "Cake Bake Pvt Ltd" will not be approved as " Cake Bake 2 Pvt Ltd" or Cake Bake 1.0 Pvt Ltd".

 

• Use of Phonetic spelling or variation in spelling will not be of any use.

 

For example, "Cake Bake Pvt Ltd" will not work as " KAKE BAKE Pvt Ltd".

 

Apart from these, here are some DON'Ts to pick the best name for company registration:

 

• Do not use common terms and names of places.
• Don't add any internet-related tags.
• Do not translate existing firm names into another language.
• Don't use a different combination of the same company name.
• Do not use abbreviations or adjectives.
• Do not apply for a trademarked name.