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Is it Shareable?

Word of mouth is still king. Make sure your name is easily readable, pronounceable, and easily written.
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Is it Memorable?

Will they recall your name when asked? Don't make it too complicated.
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Is it Unique?

Can they mix you up with your competitors? Be sure your name doesn't sound like your competitors name.
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Is it Search Friendly?

A name such as "Naming Force" will come up before other names when searching for "naming contests".
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Is it Available?

INC, LLC, trademark, and/or domain name? Check all of these before deciding on a name.
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Is it Timeless?

Don't use buzz words or slang.
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Is it Interesting?

Boring is bogus. Plain is poor. Vanilla is vile.
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Is it Flexible?

Don't over-do your focus. Using a name that is too narrow could cause problems if you expand your products or services.