At some point in the life of a company, the business manager sometimes mentions the desire to change its corporate name. The circumstances force him to make this decision for the good of the company. Usually, a merger with another company is the cause of this change of company name, but it also happens that the image of this one has been tarnished for a long time.
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CARRY OUT PRELIMINARY INVESTIGATIONS
Whatever the reasons for a business owner to change the name of the company, it is essential to do some preliminary investigation. They are done with customers and investors to find the most suitable name among all those you have considered. Whether the change of company name is based on a buyout of goodwill or an evolution of activities, the procedure remains the same.
THE DEFINITION OF THE NEW COMPANY NAME
The change of company name requires time to think. The person (s) in charge cannot choose a name because it pleases them or because it is fashionable. The name of the company says a lot about the top executives. Suddenly, you have to take into account several elements in order to determine the ideal name. Above all, avoid choosing a complex name. Instead, choose a short name that will pass more easily between customers and therefore promote word of mouth. It must also convey the values of the company and to a certain extent give an overview of the activities of the latter.
SOME FORMALITIES
The new company name must be officially registered. This last step involves some administrative formalities that must be followed to the letter. Indeed, even if the will can come from the leader, the change of company name must come from the initiative of all the partners and the actors of the company.
Peter Beaumont is a senior reporter on the Guardian’s Global Development desk. He has reported extensively from conflict zones including Africa, the Balkans and the Middle East and is the author of The Secret Life of War: Journeys Through Modern Conflict. Email: peter@thehearus.com
