this doc is taken from http://www.developer-resource.com/how-to-select-a-company-name.htm
When building a business there is little more important than selecting an appropriate company or product name. Names can be distinctive, unique or descriptive.
The problem with descriptive names is that they are very difficult to legally protect. For example you could call your software "word processing software" or "text editor" but neither are distinguishing or unique. A competitor could enter the market and use the same name funneling your traffic and benefiting from your product reputation. Distinctive names can be trademarked and protected. As a result many developers combine distinctive and descriptive by adding a company or brand name: "Brand Text Editor" or "Brand Word Processing Software".
Tips for finding a name that is just right.
Brainstorm - Spend time making a list of words. The words might be generic or descriptive. If the words are descriptive use words that elicit a positive image or response. Some words automatically convey a specific feeling. Use words that elicit emotions that you wish to relate to your product or service.
Examples:
Lion = Power, Strength
Eagle = Sharp, Clear
Cheetah = Fast
Safe = Trust
Oak = Solid
Use a Thesaurus
Use a thesaurus to locate synonyms of words on your brainstorm list.
Jumble
Merge the words and mix the order of the words and see if any combinations are appealing, unusual, distinctive or unique.
Selecting a Name
When company names appear in a list they are often alphabetized. As a result businesses will often select a name that uses an "A" to appear at the top of the list.
Trademark Search
Conduct a trademark search at USPTO. Conducting a thorough search prior to selecting a name will save a whole lot of time, effort and possibly money, if you find that your chosen name is already in use.
http://www.uspto.gov
Search Engine Search
Search the major search engines including: Google, Yahoo, MSN using the chosen product or company name. How much competition is there? Will using the name for your product or company cause unnecessary product confusion. If a savvy company in another niche has strong search engine ranking for the name you want, consider selecting something different. Keep in mind you will be competing with the existing search results for search engine placement for your brand.
Domain Search
Conduct a domain search to determine the availability of domains that resemble your choices.
Name Selection Tips
a. Memorable
Names and domains should be memorable and not excessively long.
b. Easy to Read
Domain names should be easy to read in print, remember the letter "l" and the number "1" can appear very similar in some typographical fonts. If you are using either character in your domain make sure it is clear and will not cause confusion.
c. Easy to Say
Company names, domain names and product names should be easy to say and easily understood. Test the names by saying them outloud, and make sure other can clearly understand what you are saying.
d. Easily Spelled or Not Easily Misspelled
Domain names should be easy to spell. If your heart is set on a domain with tricky spelling, purchase the domains of common misspellings and protect your traffic.
e. Hyphen Controversy
If you are registering a multi-phrase domain name you may be unsure whether to purchase the domain with hyphens. The best way to handle this is to purchase the domain both ways with and without hyphens and use a redirect.
f. .com Is King
Avoid purchasing domains with obscure endings. The .anything domains can cause confusion, stick with the standard domains for your primary website.
g. Be Careful
Be careful how the word is read! Multi word domains can be interpreted a number of different ways.
Examples:
therapistfinder.com
The Rapist Finder
Therapist Finder
molestationnursery.com
Mole Station Nursery
Molestation Nursery
speedofart.com
Speedo Fart
Speed of Art
h. Foreign Appeal
What does the selected name mean in other languages? This is particularly important if you are selling in a global marketplace. Big companies have been known to make serious oversights in this area. Chevy Nova required a rename when Chevrolet realized that Nova meant "no go" in the Spanish market (not a great name for a car!).
i. Not Too Narrow, Not Too Broad
Many companies fall into the trap of creating a company name that is too narrowly focused. Your company name should leave room for expansion or change as your business grows. While descriptive names are common they are better suited to product names than company names. Select a company name that allows you to expand your product line should you choose to.
j. Test It
Once you have narrowed down the list of company or product names ask others what they think about your selection. You might find that certain names have negative connotations, or do not elicit the reaction you were expecting.
k. Controversial Names
Names can suggest product usage or quality by using certain kinds of words. Avoid using terms that generate negative connotations. Avoid controversial terms.
Example:
Demon Software - negative connotations alienating Christians, why reduce your market?
Liberal Software - while politics might be important in your personal life, do you really want to reduce your selling market by alienating conservatives?
Resources:
DomainFellow - http://www.domainfellow.com/
Domain Generator - http://www.domain-generator.net/
DNWiz - http://www.dnwiz.com/
Nameboy - http://www.nameboy.com/
Keyword Tumbler Software
Purchase the domain immediately after you find it. After all your hardwork it would be a shame to lose it.
Netsol - http://www.networksolutions.com check domain availability
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How to Launch a New Product or Service