What's In A Name?

Entrepreneur, Oct, 1999 by Tomima Edmark

NET CHECK

If you plan to create a Web site and use your product or company name as the domain name, be sure to check whether it's available for use. To find out, visit www.register. corn and go through the steps listed there. Don't be discouraged if your name is taken, however. Many people register names in the hope of selling them for a profit. Your name could be available for the right price.

FINAL THOUGHTS

There are millions of names in the marketplace, some good and some bad. Coming up with a catchy name can greatly help you in the long run. Names that are distinctive, memorable and positive can go a long way to promote your company or product. So take the time and effort to go through the exercise of finding a great name - and watch the payoff roll in.

READY, SET, INVENT!

The Great American Toy Hunt is on.

Sure, your great toy idea has hit it big with your 3-year-old. But how are you going to get someone else to like your toy concept just as much - enough to successfully introduce it to the multibillion dollar toy industry? Haystack Toys Inc. could be your answer.

This St. Louis company is looking for a few good toys ("needles in the haystack," if you will) that are so ingenious, they'll stick around for years. Winners of The Great American Toy Hunt will get a $5,000 advance, a 5 percent royalty, a $50,000 commitment toward product development, and their story printed on the toy packaging. Call (877) I-INVENT or visit www.haystacktoys.com.

- Karen E. Spaeder

TRADE SECRETS

After you've narrowed the field to, say, four or five names that are memorable, expressive and can be read by the average kindergartner, you are ready to do your trademark search.

Must every name be trademarked? No. As long as your state government gives you the go-ahead, you may operate under an unregistered business name for as long as you like - assuming, of course, you aren't infringing on anyone else's trade name.

But what if you are? To illustrate the risk you run of treading on an existing trademark, consider this: When naming consultancy NameLab took on the task of renaming a chain of auto-parts stores, it uncovered no fewer than 87,000 names already in existence for stores of this kind. That's why, no matter how small your business is, you should strongly consider having potential names screened.

Enlisting the help of a trademark attorney or at least a trademark search firm to help you with your research is highly advisable. The extra money you spend now could save you countless hassles and expenses further down the road.

Excerpted from Start Your Own Business (Entrepreneur Media Inc.). To order, visit www.entrepreneurmag.com.

Tomima Edmark is the inventor of the TopsyTail and several other products. Questions regarding inventions and patents may be sent in care of Entrepreneur.