Combining Company Names And/Or Logos
How do buyers and sellers decide whether to use old or new names?
And how do they create new names?
Sometimes the best course for naming a newly combined entity will be obvious. If a large, successful company buys a small, struggling firm in its industry, the acquirer’s name should probably prevail, unchanged, especially if that acquirer has already changed its name within the past few years. Usually, however, the choice is not so easy.
Merging companies would be wise to appoint a small group of managers to look into this important question. There are basically 12 steps. (See Exhibit 9-3 and the discussion that follows.)
[Editors Note: Graphic here in book - 9:3]
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Exhibit 9-3 Steps for Naming a Newly Combined Company |
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1. Compare present names with future of company. 2. Determine needs and expectations of stakeholders. 3. Develop criteria for a new name. 4. Develop a long list of names. 5. Review/screen names to make short list. 6. Conduct preliminary legal search. 7. Evaluate attributes, both graphic and linguistic, considering a global market.* 8. Select final candidates. 9. Conduct final legal search. 10. Recommend new name to board and stockholders. 11. Seek approval from board and stockholders. 12. Develop communications plan.
* The old Chevy Nova brand was reportedly mocked in Spanish-speaking markets because “no va” implies that the car will not run. |