Every business hopes to be unique in its own way, especially
when it comes to the company name. So when there is a misconception between businesses
due to similar names, the damage can sometimes be far from reversible.
You must be wondering how something as small as sharing a
company name can cause such a big ruckus. Unfortunately for Philip
Davison-Sebry, it took just a spelling mistake to change his business forever.
Davison-Sebry is the owner of a British engineering firm called Taylor & Sons Ltd. that was started in 1875 and
has since built a prestigious reputation for itself. However, Taylor & Sons was wrongfully accused of being in
liquidation when actually it was the reality of another company called Taylor
& Son. (Read here) Despite the error, the company suffered the consequences with
millions to pay in legal fees, loss of clients and a destroyed reputation. It’s
crazy to think that a mistake as minor as adding an ‘s’ to the end of a name
can create such an outcome.
Aside from the fact that this was a horrendous mistake made
by a government agency, there are common cases in which companies get mixed up
due to a similarity in names. Especially for a small business, the effects can
be so damaging to the business like the case with Taylor & Sons. A similar
case happened in Florida when YOU FIT, a local health club, sued a competitor
FIT U for trademark infringement, unfair competition and more. The similar
names in the same area caused confusion but also that the services offered was
exactly the same—a health club attempting to attract a younger and “on a budget”
market. A judge in the end passed an injunction against FIT U, the rival club. (Read here)
“Choosing a name is
arguably the most important branding decision a company will make,” Worcester
Business Journal, 2014.
Most businesses co-exist with other companies that have
similar sounding names without it infringing on their business. It is more difficult to do that when said
company is in the same industry, which happens more often than you would think.
Although trademarking is an option, it is still difficult to avoid these cases.
This can be a hard pill to swallow when you and your team have put such blood,
sweat and tears into developing the perfect brand name. When starting a
business, you know the types of services you will offer right off the bat but
capturing your business with a name is the longest, and like the quote states,
the most important process.
For us at Artemus, we realize we do have a unique name but
even we have faced these circumstances. Fortunately, because we stress the importance
of close, personal relationships -- if such confusion ever happened, they know
to call any member of our team for clarification. We make ourselves readily
available and present everything a client needs to know to do business
together. By having direct and close contact with our clients, they feel
confident that they would get an honest, direct answer from us. We feel this is
the most important aspect of containing a false story.
Besides customer relationships, when it comes to building a
unique profile for your business, branding is vital. This can be achieved
through establishing a reputation for your company that goes farther than the
business name. You want people to know how the business differentiates from any
other in your field, regardless of an analogous label. In the trade and
transportation industry, social media is important but many companies are
having trouble utilizing the use, especially as a non-consumer company. We
embraced social media as a platform but also a way for our brand to stay
visible. Personalize your business for existing and potential clients by
starting a blog site that can update them on current projects, as well as
future endeavors that the company is working towards. Establishing a profile
that goes beyond the company name and website can enhance success, which in
return can also prevent misconceptions caused by another company.
Our main goal as a company is to build a foundation that can
handle any circumstance without a doubt. As much as social media is our
creative outlet for keeping those informed, we like to announce any form of
business deals and news through the media. The more you read about us, the more
familiar we become. We wear many hats in the industry but we also make sure our
clients know how they can come to us as a one-stop shop. We hope through these
efforts, when you see Artemus, you know exactly who we are as a software
provider, customs broker, and educational partner. So whatever the case, it’s
always a safe bet when your brand can speak for itself!
ARTEMUS OUT!
