Choosing a name can often be one of the hardest aspects of incorporating. Not only can a corporate name be important to the entrepreneur, but a name is subject to various legislative requirements depending on the jurisdiction chosen for incorporation.
The most common restriction is that the name cannot be identical to, or cause confusion with, an existing corporate or business name. All names must have a distinctive element, setting it apart from existing names, and a legal ending, such as “Inc.” or “Ltd.”. Many names choose to use a descriptive element as well, to help indicate to the consumer what the business is about.
Corporations can be incorporated as a numbered corporation, where a number is issued as opposed to the actual business name, for example, 1111111 Ontario Inc., where the name is not important. A trade name can be used and/or registered by the numbered corporation at a later date.