Sophie Smith has an opportunity to open a designer shoe store in a new mall. She believes that the shoe store will be quite lucrative because of the mall’s location adjacent to a condominium development catering to young professionals. To take advantage of favourable tax laws, Sophie has decided to incorporate a company, and to save money she is going to do it herself. She knows that she will need a name for her corporation. Some of names that she is considering are Shoe Store Inc., Princess Sophie’s Shoes Ltd., DownTown Shoes Inc, Sophie Smith Ltd., Nu Shuz Inc, Sophie Smith Clothing and Apparel Inc. and simply, Sophie’s Shoes. Are there any problems with the names that Sophie is considering for her corporation? Explain. Assume that Sophie has XZONIC Shoes Inc. approved as the corporation’s name. What rights does registration of a corporate name give Sophie?