Choosing a company name is the most enjoyable part of starting a business. But getting it wrong can be embarrassing, confusing and, in some cases, very expensive. Corporate history is littered with company names that have been misunderstood, ridiculed, hastily abandoned or replaced at considerable cost. We look at some of the more amusing examples and the lessons they can offer before choosing a name for your next company.

What Does Your Company Name Sound Like?
Before registering a company name, say it aloud several times to ensure it sounds acceptable. When Jeff Bezos was establishing the business that would become Amazon in 1994, he initially incorporated it as Cadabra, Inc., a shortened version of abracadabra intended to suggest magic. However, when spoken aloud, particularly over the telephone, Cadabra could be mistaken for “cadaver”, a dead body. Bezos quickly changed the company name and settled on Amazon.

Is Your Company Name Easy to Spell?
A good company name should be simple to pronounce but more importantly spell. Few people know that Google was first called googol. The founders were very happy with their new company name, which was shortened after the word googolplex. However, when one of the founders accidentally typed google while using a computer, they quickly realised google was easier to spell and changed the name to what we all know today.

How Much Could a Bad Company Name Cost?
For an established business, changing a familiar name can be risky. Customers often have years of recognition and trust invested in an existing brand. In 2001, Britain’s Post Office wanted to create a modern identity and adopted the new corporate name of Consignia. However, due to customer complaints and less than a year later the company went to its original name, but at costing over £2 Million.

What is Wrong with “Monday”?
A company name can be short, internationally recognisable and easy to pronounce and still not be particularly appealing. In 2002, PwC announced that its consulting business would be renamed Monday. Unfortunately, for millions of people, Monday means the weekend is over and has negative connotations. The consulting business was bought by another company and the name Monday disappeared almost as quickly as it had arrived.

Can I Call my Company Anything I like?
Not quite. In Gibraltar, a proposed business name needs to be approved by the Company Registrar before registration. Certain words and expressions may also require approval from the relevant authorities, particularly where a name could suggest a connection with Government, Royalty, a public authority or a regulated activity. Therefore, an important early step in forming a company is that a Company Management firm assist in checking the availability and acceptability of your proposed name. A good company name might eventually become one of a business’s most valuable assets, so it pays to choose carefully.

Thinking of Starting a Company?
Choosing the name is just the beginning.

From checking the availability of your preferred company name and establishing the appropriate corporate structure to incorporation and ongoing administration, getting the details right from the outset can save considerable time and expense later.

The Europa Group can assist with company formation and corporate administration in Gibraltar and a range of other international jurisdictions. Contact our team to discuss your requirements.

Now is the Time to Work with The Europa Group
For over 40 years, the Europa Group has been helping businesses, entrepreneurs, investors and private clients establish and manage their interests in Gibraltar. We provide a comprehensive range of corporate, fiduciary and marine services, combining local knowledge with international experience to deliver practical, responsive and personalised service.

Our clients range from first-time entrepreneurs and family businesses to multinational corporations, internationally recognised brands and high-net-worth individuals. They also include professional sportspeople, authors, investors, family offices and members of prominent international families. Whatever the size or complexity of the assignment, every client receives the same commitment to professionalism, discretion and long-term relationships.

The Europa Group is authorised and regulated by the Gibraltar Financial Services Commission. Contact us today to discover how our experience and expertise can help you achieve your business and maritime objectives in Gibraltar.