Choose wisely because name changes are quite the bother
This may be less of a tip and more of a reminder for most: you don’t want to have to change your name, so choose wisely now. Changing a company name is an enormous inconvenience and has tremendous business implications, including, and most importantly, the loss of valuable brand equity. There are various reasons why you might have to change your name, and the most common are:
- your company name infringes on a preexisting trademark (note that a good naming agency should guide you toward names that stand the greatest chance of legal clearance and trademark protectability)
- you’ve outgrown your name–i.e., the nature of your business has significantly shifted and your name is no longer consistent with the new business direction
- you’ve merged with another company and need a new name that reflects the cultures and business objectives of both organizations
- you’ve been acquired by another company and for legal reasons or for purposes of portfolio fit you have to change your name
- umpteenth other reasons why you might be in a position to have to change your name!