What should be the consideration when picking up a name for my company?
You always start by a set of objectives and a target market profile oh which you are planning on offering your products or services, just like any advertising job. You should not forget about your particular industry context and competitors. The idea is to choose a name that allows for identity (i.e. being unique) therefore helping in the creation of the logo and other elements of your branding.
Entrepreneurs and experienced businessmen are given to approach the name creation process as a father would do to pick up their kid’s names: something intimate and to reflect their own identity in the form of a new company, and that’s fine. The final decision over the company name should never be in the hands of a third party, yet a professional has better criteria and objectivity to advise in the name selection, adding or polishing into a pool of ideas, and helping the parties involved to not forget about the core objectives and production quirks.
Is it a good idea to request name ideas along with the logo design?
Absolutely! it is a good idea since you not only get to read alternatives for your name, but you can also see them applied, even in a primitive form. A graphic “bedding” goes a long way from reading your future company name in Arial 12.
Another option is to “seed” the name creation process with concepts and keywords for the creatives to work with, as we mentioned above. The company name selection should be inherent to the people behind it, even when they request third party advise.
We have already registered our company name, is it possible to complement it or add words?
This depends on the legal requirements of each country regarding trademark and commercial laws. It might be possible to add typographic elements at the logo creation time. If you also have registered your logo but want to change it along the name then you might be looking for a logo evolution work, or if you need to detach completely from your old identity, the creation of the branding from scratch.
You can also apply for a trade name if your local laws allow for this figure, this way you can keep your legal name and start from scratch with the creation of a brand that fully represent the ideas and vision of the company without the limitations of sticking to old choices and restrictions.
In conclusion: Check your local laws and regulations if you have formally registered any corporate identity element that you want to change. But if you have not committed formally or economically to your current name/brand and you think there might be something to improve, just ask for advice to a branding professional.