Chemical compounds have both a common name and a scientific name .
5.1 Naming Compounds. When elements react with one another, there is typically a transfer of electrons where one element loses electrons while the other gains electrons, both forming ions. Alternatively, in order to form a compound, each element may contribute with a certain number of electrons and then the total number of electrons is shared among the various atoms in the molecule. When an element loses or gains electrons and forms an ion, the element is said to have a new oxidation state . Because carbon is positive, it is written on the left side of the formula, while oxygen is written on the right side of the formula, because it is negative.