Are We Running Out Of Business Names?

If you’ve ever wanted to start a business, you have to pick a catchy name.  But most of those have already been taken.  In fact, most of the words you use every day are probably trademarked.

The problem is outlined in an article entitled “Someone probably owns most of the things you say” by Janet Nguyen and David Brancaccio (https://www.marketplace.org/2018/02/15/economy/someone-probably-owns-most-things-you-say?, the photo came from this site).  They based this on a paper in the Harvard Law Review called “Are We Running Out of Trademarks?” — NYU law professors Barton Beebe and Jeanne Fromer analyzed millions of trademark applications at the U.S. Patent and Trademark Office and concluded good company names are getting much harder to find.  According to Beebe, “There have been lots of media reports over the past decades about how all the good band names are taken, all the good craft beer names are taken.  And we wanted to actually … back it up with data, and that’s what this article does.”

So what do you do if you need a business name?  It’s complicated — your first thought is for something unique (Google), but common words can be surprisingly effective (Apple).  Try to keep it simple, as in short and easy to pronounce, but an estimated 80 percent of the syllables you use daily have already been claimed as single-word marks.  Of course, you could use your last name, but if you’re fortunate enough to sell your business for an obscene profit, you’ve lost control of your name.  (But once again, it’s complicated — Michael S. Dell is getting away with it.)  Finally, you can always make up a word.  Try to think of something with a positive connotation, like Verizon (which suggests “horizon”).  On the other hand, remember Ford’s Edsel nameplate?  One reason for the flop may have been because the name rhymed with “weasel” and “pretzel.”

Nothing is simple anymore.