Self Explanatory - Do you want people to know exactly what your company does or sells as soon as they hear the name? There are obvious benefits to having a self explanatory name but it doesn’t leave too much room for creativity.
Abstract - This leaves a bit more to the imagination for your customers but can work great for grabbing someone’s attention. You can get more creative if you’re taking this approach and leave it up to your logo and tagline to inform customers what your business is all about.
Coined Names - You can really get creative with this approach making up your own word, combining two words or using one from a different language. If you’re using this type of name, make sure that it isn’t too hard to pronounce or spell and that it rolls off your tongue (think of Kijiji or Koodo), if people can’t pronounce it, they won’t say it.
What do you want your name to say? You should try to give your potential customers a feeling as to what type of business you run. Is your business fun and creative with out of the box thinking or is it a by the books, get problems solved quickly type of business? Either way you should try to convey this in your company’s name and logo.