Saying Bye to Facebook: Why Companies Change Their Name
As anyone who’s started a company knows, choosing a name is no easy task.
There are many considerations, such as:
- Are the social handles and domain name available?
- Is there a competitor already using a similar name?
- Can people spell, pronounce and remember the name?
- Are there cultural or symbolic interpretations that could be problematic?
The list goes on. These considerations are amplified when a company is already established, and even more difficult when your company serves billions of users around the globe.
Facebook (likely the parent company, not the social network) is on the eve of a name change, and we’ll unpack some probable reasons for that. But first, we’ll look at historical corporate name changes in recent history, exploring the various motivations behind why a company might change its name. Below is one of the categories of rebranding that stands out the most.
Societal perceptions can change fast, and companies do their best to anticipate these changes in advance. Or, if they don’t change in time, their hands might get forced.
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Michael N. Mercurio is a leading attorney in the field of mergers and acquisitions (M&A). He serves as outside general counsel in buy-side and sell-side M&A, as well as in all business law and real estate law matters. As a strategic partner to firm clients, Mr. Mercurio regularly counsels entrepreneurial individuals and assorted entities on the many challenges, issues, and opportunities companies face throughout the business lifecycle—from start-up to eventual exit.
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Author: Michael Mercurio, Esq.
Articles have been Reprinted with permission from the charlotte observer and Mike Hunter.
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