A trade name is a public identifier used by a company or product, often different from the registered name. It can be used for branding and marketing purposes, and may be protected or in the public domain. Market research is often used to create effective trade names.
Also known as a trade name, a trade name is an identifier that is used as the public name of a company or product. Trade names may be different from the company names used as part of the incorporation process or the registered names of products manufactured by a company. In some cases, the use of a trade name is restricted, but often the term is not trademarked and is considered to be in the public domain.
Companies often make use of trade names as part of their overall marketing strategy. In this case, business operations may be incorporated under one name, but do business under another name. For example, a large corporation may be incorporated as “Apple, Inc.”, but do business as “Seed City.” Often the idea behind using trade names is not to confuse consumers, but to provide them with a company name they can remember and identify with, thus making the process of reaching those customers much easier.
Many companies see the value in the branding of their trade names. As these names become known, competitors may attempt to gain control of an unprotected trade name and use the familiarity of the name for their own businesses for profit. Also, even though the incorporated trade name is used in contracts and other legal documents, it is not uncommon for trade names to be included in the text. When this is done, the process usually requires first listing the built-in name, followed by “d/b/a” or “doing business as”, and finally the trade name.
Along with business names, trade names can also refer to the products and services marketed in different sectors of the consumer market. This is often the case when the registered name for the product is not one that consumers can remember relatively easily. In this scenario, the trade name is likely to have some similarities to the registered name, but it will be much easier for anyone to remember. Pharmaceutical companies often use this approach, with a classic example being the term “aspirin” for a product that has a chemical name of acetylsalicylic acid.
Creating and launching business names often involves using at least some market research. Test groups made up of consumers from key markets are asked their opinions on the names under study, including how easily consumers can remember each name, and whether the name is appealing and likely to motivate people to look closely. the company or product. If a particular name appears to have significantly more appeal than the others, it is likely that the name will be selected for use.
Over the course of the 20th century, the use of trade names became much more common. In many cases, the phenomenon has had to do with the expansion of companies into international locations. If the trademarked or registered name of a company or product did not translate well into the local language, a trade name would often be created that would appeal to consumers within that country.
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