A classmate of yours is starting a company that is designed to help high school athletes maximize their chances of obtaining a college scholarship. The company will help athletes put together highlight films of their high school accomplishments, write letters of introduction to college coaches, and manage the process of prospecting and communicating with college coaches and administrators. Based on the material in Appendix 7.1, suggest three potential names for the business. Settle on an Internet domain name for each suggestion

(the domain name must be available).

Explain how the name will help the company communicate its purpose and build its brand.

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APPENDIX 7.1 WHAT'S IN A BUSINESS NAME?: A LOT OF TROUBLE IF YOU AREN'T CAREFUL Introduction While at first glance naming a business may seem like a minor issue, it is an extremely important one. A company's name is one of the first things people associate with a business, and it is a word or phrase that will be said thousands or hundreds of thousands of times during the life of a firm. A company's name is also the most critical aspect of its branding strategy. A company brand is the unique set of attributes that allow consumers to separate it from its competitors. As a result, it is important that a business choose its name carefully so that it will facilitate rather than hinder how the business wants to differentiate itself in the marketplace. If an entrepreneur isn't careful, the process of naming a business can also result in a peck of trouble. There are a number of legal issues involved in naming a business, which should be taken seriously. If a business selects a name and later finds out that it's already been legally taken, the business may have to (1) amend its articles of incorporation, (2) change its Internet domain name, (3) obtain new listings in telephone and other directories, (4) purchase new stationery and business cards, (5) redo signage and advertising, and (6) incur the expense and potential embarrassment of introducing a new name to its customers. These are complications that no entrepreneur wants to endure. The following case describes the strategies for naming a business along with the legal issues involved. Strategies for Naming a Business The primary consideration in naming a company is that the name should complement the type of business the company plans to be. It is helpful to divide companies into four categories to discuss this issue.