Naming a Private Limited Company
The name of your company can be your biggest asset. Your company’s name is the first impression on people. It should, therefore, be attractive and not dull. The name of a company helps to create the customer base. Make sure your company’s name helps to make a strong customer base.
So you just cannot give any random name to your company. There are various guidelines that you should keep in mind while deciding on a name for your company.
The name of your private limited company should have the following features:
Short and Simple
The name should not be too long. It should be kept small. General people should be able to pronounce it easily and they should be able to remember your company’s name the first time they hear or read it.
The name of your company should have a meaning. That meaning should be relatable to the nature of your company or it should tell a story about the company. It should fit the company’s brand portfolio. For example, “Google” the name of the most common search engine is derived from the name GOOGOL that means 1000000 (with a thousand zeros).
Name of your company should not be the same or identical to an existing company. Uniqueness does not mean:
- Plural version of the name of an existing company cannot. For example, you cannot name your company “Flipkart”
- Changing, Letter Case, Spacing or Punctuation marks in an existing. For example, you cannot name your company WI-PRO as a company called WIPRO already exist.
- Spelling Variations in an existing name. “Adedas” not be an authorized name as it is similar to “Adidas”.
- Addition of common names or titles. “New Tata Motors” cannot be the name of your company.
If you copy the name of an existing firm, the firm can sue you in court and you may be liable to pay fine.
The name of your company should end with the suffix “Pvt. Ltd”. “PVT Ltd.” Indicates that the company is a private company and have limited liability.
Should Not Be Offensive
The name of your company should not be offensive or against law. It should not be against the customs and beliefs of any religion. It should not hurt the emotions of any person.
If your company deals in financial activities, then your name should not include financial names such as ‘loan’ or ‘finance’ etc.
So you need to be careful while deciding on a name for your company. You should not do it in hurry. Take your time and think of a name that impresses your targeted customers.