Arguably one of the hardest decisions I've ever had to make when starting a new business is choosing a name.  For us non creative types it can be horrible.  Especially if you are starting a company with other people.  You then have the additional difficulty of finding a good name that you all like (and one that you can get a good URL for).

I've come across a few good post lately that make suggestions on naming:

William Lozito of the Naming Blog points to an article in the Wall Street Journal about the importance of naming.

The Small Business section of the Wall Street Journal has a very good article up entitled “Name That Firm,” that indicates that “selecting a name is one of the most important decisions a company will ever make.” A sentiment that I completely agree with.

The article looks at some common pitfalls that come from not putting enough thought into the naming of your company and your brand.

He then also points to several articles about rebranding

Funnily enough, the Chicago Tribune has a great piece up about rebranding, something many people wind up doing when their first effort at naming and branding starts to wilt. Of course, this is also a pursuit that occupies the time of many a name consultant.

Tate Linden over on the Thingnamer blog has some good suggestions

Distinctiveness:

Distinctiveness is a feature, not a benefit. 
So whether you're paying $50 or $500,000 for your spiffy new name and brand you're not paying for distinctiveness - you're paying for the brand's ability to multiply the effectiveness of your marketing and to hold down sales costs.  It just so happens that distinctiveness is one of a slew of factors that can lead to those results. 

Simple:

Why does simple work for naming?  Two reasons:

1. People have a limited amount of attentional capacity. 
2. People remember simple things easier than they remember the hard stuff.

Finally, Stephen Topfer at The Small Business Blog has some great tips on choosing a name including:

• Using a mind-mapping software to brainstorm
• Be descriptive but not too specific
• Be aware of copyright issues
• How your name will translate internationally (best to think ahead)
• Can find a good Web address that goes with the name.