How to choose a great company name

19/08/2021

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Table of Contents

1. Why does a company need a name?
2. The elements that make up a brand name
3. Top 3 most popular company naming methods today
4. Notes in the process of naming a company

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Why does a company need a name?
The elements that make up a brand name
Top 5 most popular company naming methods today,
Notes in the process of naming a company

1. Why does a company need a name?

Naming a company is extremely important for a business. It is the first milestone marking the formation of the business, an important first step that lays the foundation for the future. Whether a business succeeds or not partly depends on how it is named. Why should a company be named?

Names of some famous brands worldwide

Affirm the brand and enhance brand recognition among customers.

Build credibility with customers when shopping. Most customers will feel more secure shopping at reputable businesses.

Naming a company is a mandatory part of business establishment set by the state. Naming and registering a company will help you fulfill the obligations and requirements issued by the Law. From there, all your rights will be protected by the Law.

For these reasons, any business that wants to operate must do this. Naming a company is extremely important, so business owners should be very careful and meticulous in choosing a suitable name. Naming is the premise for your business to develop in the future.

2. The elements that make up a brand name

Unlike some methods of naming companies after foreign ones, Vietnamese businesses' brand names usually consist of two main elements. That is the combination of the business type and the proper name.

Specifically, regarding the business type, according to the 2020 Law on Enterprises, there are 5 main types of businesses: joint-stock companies, single-member limited liability companies, two-or-more-member limited liability companies, partnerships, and finally, private enterprises. However, newly established businesses often choose 3 main types of companies: joint-stock companies, single-member limited liability companies, and two-or-more-member limited liability companies.

The second element that makes up a business name is the proper name. Businesses can choose their own proper name or create other proper names. This is also the most important part of creating a brand with high recognition. The less duplication there is, the easier the brand is to recognize. Therefore, choose really attractive and unique names!

Example: Lam Anh Trading Service Co., Ltd.

In this, the first element is “Co., Ltd.” (business type); the second element is Lam Anh (proper name).

3. Top 3 most popular company naming methods today

Which company naming methods are being chosen the most today? Let's review some of the most popular naming methods with Hoang Phuc Pack!

Top 3 company naming methods most popular today are what?

Naming after a person

When establishing a business, everyone wants to express their “ego” and assert themselves right in the brand recognition part. Therefore, there are many business owners who have chosen their name to name their company. In addition, many people still name their business after their spouses, children, parents… This is the most popular naming method today because it carries a strong personal mark.

There are many cases worldwide of naming a company after a person. For example, President Donald Trump with The Trump Organization LLC - a U.S. limited liability corporation headquartered at Trump Tower in Manhattan, New York City. Or in Vietnam, there is also a very famous company, Hoang Anh Gia Lai Joint Stock Company, owned by Mr. Doan Nguyen Duc, which was also named after his son.

Naming after the business industry

Business owners can also name their company after their business industry to increase recognition, making customers remember their business more easily. To make it easy for customers to distinguish and be impressed with the company, you can name your company according to the formula: Company type + business industry + person's name.

Example:

Vinh An Construction Co., Ltd.

Minh Anh Plastic Joint Stock Company

Nhat Linh Paper Manufacturing Joint Stock Company

Naming a company after its business industry will help your customers think of your business immediately when they need to shop. This is also one of the effective marketing methods for newly established companies.

Naming after a symbol

There are also many businesses that, instead of using a proper name to name their company, choose symbols with lucky meanings such as a lotus flower, golden buffalo, golden dragon… A typical example is the recently launched Lotus social network, which takes inspiration from Vietnam's national flower, the lotus. Aiming to convey the message “Vietnamese people use Vietnamese goods” of the founder. In addition, you can also use the characteristics of the product's origin to name your company. For example, if your business is selling Japanese domestic goods, you can name it “Sakura” to evoke the image of the land of cherry blossoms. The advantage of naming after a symbol is to elevate a business's brand and create initial goodwill with customers.

4. Notes in the process of naming a company

In the process of naming your business, you should also keep the following things in mind:

What should you keep in mind when naming a company?

You should name your company with a moderate length and make it easy to remember so that customers have a better impression. Avoid long-winded names with heavy tones that are difficult to read.
Your company name and the products your business sells should be related to each other to easily evoke imagination in customers.
Before going to register a business name, you should refer to and find out in advance whether your business name is duplicated.
You should not use names that duplicate the names of state agencies, political organizations, and social organizations as business names.
You must not use words or symbols that violate the nation's historical, cultural, moral, and traditional customs.

Above are some suggestions for you on how to name a company. We hope the article will bring many interesting information and ideas to readers. Hoàng Phúc Pack is one of the reputable units specializing in manufacturing products related to the carton packaging industry in Ho Chi Minh City. If your business needs to buy carton boxes to store goods, please contact us according to the information below to get free consultation and support:

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