Showing posts with label business form. Show all posts
Showing posts with label business form. Show all posts

Sunday, April 17, 2011

What's in a Name?

With my cousin's agreement tucked in my belt, I started to look for a location. I wanted an area near the business district but not too near that the rental rates would be exorbitant.

I told a couple of friends about it. I said it's going to be called Agahan. That name just resonated in me as soon as the word came out of my mouth. Agahan is going to be an all-day breakfast place. 


They advised me to start the papers going.

So I did more research. I must register the name but where is determined by what form the company will take. Single proprietorship means DTI or Department of Trade and Industry. Partnership or corporation means SEC or Securities and Exchange Commission. 


After reading up on the matter, I decided that corporation is the way to go. As I understand the concepts, it seemed most ideal to me. Since you create a new entity when you go corporation, your personal assets are not compromised should things not go according to your hopes. 


Of course, the drawback is that it's more complicated to set up. And also complicated to dissolve. But I figured, I'm here to stay, so why not?


Next question, what's the name of the company? You have to think about this hard. It's a name which will be with you a long time. 


As for me, there are two things I want the name to say: joy and food. So after almost a dozen tries, I found the combination that I'm happy with and passes SEC's name screening.


Also, I wanted a name that I can use beyond Agahan, my chosen trade name.Why? Because I want the option to open another concept food place in the future. So I have a company name and a trade name.


But I didn't start on it right away. 


Sure, I already have the "yes". But I still have no location. And I didn't want to commit to something that is still essentially just an idea. So while I scoured the town for a location, I let my mind wander so I can further refine and put more specifics into Agahan.


And that's how Agahan started to emerge.