Q: I am trying to choose a name for my new company. How can I be sure that another company doesn't already have it, and how can I prevent another company from using it?
Start with a business name search at the Tennessee government Web site. Go to
http://tennesseeanytime.org/sosname. If no one has the name, register it for $20.
Also do a Google search to see if the name is available to be used on your Web site. It would be counter-productive to register the name in one place, but to have to use some other calling card on the Web. Another place to check for the name availability would be in the local Yellow Pages.
To protect the name of your company on a national level, you may register it for U.S. Trademark protection. A trademark is a "word, symbol, or phrase, used to identify a particular manufacturer or seller's products and distinguish them from the products of another."
To find out if your company's name is already in use nationally, go to the Web site for the United States Patent and Trademark Office. That address is uspto.gov. The name that you pick for your company must be distinctive to receive trademark protection.
Common words or phrases that are not inherently distinctive are not offered trademark protection. This includes brand names that are commonly used, such as Joe's Diner or names that describe the product, for example, a brand of shoes called, "Shoe."
Consider this information just a starting point for a conversation with a lawyer. It's critical to protect the name of your company, so work with an attorney to be sure you have done everything necessary to achieve that. If your name protection is infringed upon, you'll want to have a strong court case.
Q: My New Year's resolution is to start a business I've dreamed about for a long time. What do you think are the most important things for me to keep in mind?
Know your skill set. The enterprise you develop should be a culmination of your skills and experiences.
Know where you will get the required funding. Understand that in the beginning your personal credit history is the company's credit history.
Trust your gut. Don't second-guess yourself. Be prepared to make the tough decisions.
Also, ask for what you want. The No. 1 reason that most salespeople don't get the deal is because they never ask.
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