Consider a coined word. It offers better legal protection and unrestricted growth opportunities. You may have to spend a lot of money to build recognition because customers will be uncomfortable with a name that to them has no meaning. Navistar International Corp., Primerica, Xerox Corp., Exxon Mobil Corp. and Unisys Corp. are familiar coined names. Reeducating the public would have cost much more than taking on a new name.
Special Considerations Play with all possible abbreviations, definitions and pronunciations.
Look for novel ways to keep your name short, fun and memorable. Weed out names with double or negative meanings. Know when to use your own name. If you're well known in your field already and are going to open a consulting firm, you may want to bank on the reputation you've already established. If, however, you're opening a new business to sell products or provide a service in which you haven't yet established an expertise, then, in general, using your name is not a good idea.