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Could naming your business be likened to the trauma of naming a child? For instance, what was Richard Branson thinking when he called his business Virgin®?

Ideally you want a name that stands for something, is memorable and instantly recognisable. Who’s to say you won’t be the next 42Below® Vodka, Icebreaker® or Foodtown® - we all have to start somewhere, right?

But how to choose a name … should it be funky, should it be directly related to the industry you work in, or should it be a clever play on words?

And how do you protect it?

Here are three tips to take into consideration when choosing a name for your company:

Don’t necessarily use a name that tells it like it is

Recently there has been a trend toward business owners choosing a name that describes their services or products.

As small businesses, we have to be smart about getting the best bang for our buck. And a business name linked directly to our service offering seems like a clever way to communicate clearly with our customers.

So what, then, is the downside to using names like Car Repair Services or Home Cleaning Services?

Trademarks like these can never achieve statutory protection, because they are descriptive and non-distinctive.

They are names that are unlikely to become an asset that has value in its own right.

Spelling is important

Your English teacher will say: “I told you so”, but spelling really does count when business names need protection.

Purposely-misspelled names – done to capture matching domain names – are not easy to protect and most people just see them as a spelling mistake.

Do your homework before you decide

Brand names like Apple®, Google® and Blackberry® are very memorable, despite not being directly related to their service offering.

Therefore, make up a name that you like the sound of, and get a professional to check it out for you.

I see a lot of people who invest in branding, design and production only to find that they’re infringing somebody else’s trademark – this is very costly for a business, including in lost time and distraction.