5 things all great company names have in common

Giving the right name to your startup or company is more important than you'd think.

A clever and appropriate name can impress your fan base.

Conversely, an unoriginal or dull name communicates a lack of enthusiasm toward your business.

Thankfully, it's never too late to change a company's name. Some of the most successful businesses changed their names when a better idea came around. Xerox used to be called The Haloid Photographic Company; Nissan was Datsun; and LG shortened its name from Lucky and GoldStar Co. A great name can hit you immediately, or it can be the result of careful tweaking over time.

There is no magic formula for creating a good company name, but there are five distinct characteristics that all great names have in common: