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  • Main Subject - What's In A Name: Selecting the Right Business Name

    With all that's written about selecting a domain name, I thought I would address the ART of selecting a name for your business. It's by no means an easy task or one that should be taken lightly. So here we go.

    Ask 500
    According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
    people, already in business, how they decided upon their business name and you will get 500 different answers. Everyone has a story behind how they chose their business name. Even if the business is named after their ow
    ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

    Examples of combination products may in
    n birth name, there's probably a reason why this was done.

    When you open a business, in a sense, you are giving birth. This new birth was created from an idea by you or your associates. It will have its own bank accoun
    lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

    , it's own federal identification number, it's own credit accounts, it's own income and it's own bills. On paper, it is another individual! Just as if you were choosing a name for an unborn child, you need to spend cons
    here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
    iderable time in deciding upon your business name.

    There are several reasons why a good business name is vitally important to your business. The first obvious reason is because it is the initial identification to your
    d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

    Combination pro
    ustomers. No one would want to do business with someone if they didn't have a company name yet. This makes you look like an amateur who is very unreliable. Even if you call your company "Bill's Lawn Service", a company
    ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
    name has been established and you are indeed a company. People will therefore feel more comfortable dealing with you.

    Secondly, a business name normally is an indication as to the product or service you offer. "Joan's
    easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
    yping Service", "Karate Club for Men", "Jim-Dandy Jack-of-all-Trades", "Main Street Laundry", "Missy's Gift Boutique" and "Star Publishers" are all examples of simple business names that immediately tell the customer wh
    nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
    at product you offer.

    However, most people will choose the simple approach when naming their business. They use their name, their spouse's name, their children's names or a combination of these names when naming a busi
    and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
    ess. The national hamburger-restaurant chain "Wendy's" was named after, owner, Dave's daughter. Actually, research has proven that these "cutesy" names are not the best names to use for a business. Many experts claim th
    ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
    at it makes the business look too "mom-and-pop-sie." But this depends on the business. If you are selling something that demands this mood or theme to appeal to your market, it's okay to use this approach.

    Names like,
    ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

    Following aspects would a
    "Sensible Solutions", "Direct Defenders", "Moonlighters Ink", "Printer's Friend", "Strictly Class", "Collections and Treasures", and "Starlight on Twilight" are all good examples of catchy names. These types of names re
    dd to the challenges in developing combination products:

    Which markets to tap where the combination products can do fairly well?
    Which combination prod
    ate to your product or service but serve as a type of slogan for your business. This is a big help when marketing.

    When you name a child, you may not decide upon a definite name until after they are born. Hospital nurs
    cts are meaningful and rational?
    Which therapeutic categories to select?
    Which Combinations can address unmet needs of the patients?
    Do combin
    eries are loaded with "Boy" Smith and "Girl" Jones name tags. You do this because a name is sometimes associated with a type of personality. Somehow, I don't think Tarzan and Jane got the message, "Boy"? (dah!). When yo
    tions increase the patient compliance?
    What would be the developing cost?
    How to tackle the risks encountered during combination product developmen
    name a business you may need to wait until you have a product or service to sell and then decide upon a business name before going into the business itself because your business name should give some clue as to what pr
    t?

    As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
    oduct or service you are selling. A business named "Joe's Collections" normally wouldn't sell car parts and a business named "Charlie Horse" would not sell knitting supplies.

    To generate ideas - begin looking at busine
    ping new procedures for reviewing their safety, efficacy and quality.

    Professional from academic institutions, pharmaceutical industries, health care indust
    s signs everywhere you go. Notice which ones catch your eye and stick in your mind. Try and figure out "why" they stuck in your mind. Naturally, the business "Dominos Pizza" sticks in your mind because it is nationally
    y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
    known. These don't count! Look around and notice the smaller businesses. Take your time. Within a few days you should be able to come up with a few potential business names.

    Then, when you finally find a few names you
    .

    As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
    eally like - try reciting them to other people and get their opinion. It won't be long until your business will have the proper name that will carry it through it's life!

    A final thought. Are they kidding? What your co
    elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

    Companies that provide selfless information through particip
    mpany does or long product description, domain names?

    Try VeryLongBusinessNamesThatAreHardToRemember.com (and enter it without a typo)?

    Well maybe it's just me; but what happened to KISS (Keep It Simple Stupid)


    tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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