\n<\/p>\n
Mr Patel says these entrepreneurs see the challenges experienced by ‘bricks and mortar’ firms “and realise there is relatively more they can do online. And so the majority of new companies [launched] now are online.”<\/p>\n
“But then you have to stand out. Consumers online just see 100 companies selling the same thing, but with a good name you stand out – and that gives you much more of an advantage now than it would in the past.”<\/p>\n
Alter’s website starts by asking the user to type in a word connected to the type of business they want to create. It then offers a number of suggestions that it has already registered, and how much they would cost to buy from it.<\/p>\n
For example, if you type “wine” it gives you 10 options including searchwine.com for $2,099 (\u00a31,523).<\/p>\n
Many firms are, however, still coming up with their own novel names. This is what the founders of Norwegian biotech company, Clexbio, did.<\/p>\n
The “bio” part of the name is an obvious choice for a biotechnology firm, while “clex” is in reference to the technology it has developed in the field of human tissue engineering.<\/p>\n
Chief executive and co-founder Armend Hati said they wanted the name to be just right. <\/p>\n
“We felt it would trigger the interest of investors and let us showcase ourselves as a life sciences company,” he says.<\/p>\n<\/div>\n