BRAND STRATEGY!!!
If you read the book "The Hero and the Outlaw" by Marks/Pearson, you'll see that brand strategy development is always best if based on a DEEP, powerful, emotion (e.g. Nike; Olympic achievement/heroism or Microsoft; dominance/ruler-like or Chanel; Passion/Romance).
If you don't establish the emotional connection first, then the decisions you make in ALL business development may be (potentially) less powerful than you had hoped.
This is NOT to say that you can't build a powerful brand with an existing corporate name. For example "McDonalds", as a name, doesn't really exude anything emotional... but they've effectively built a powerhouse brand around the emotions of "safe, clean, predictable, family, fun food".
If you DO have the luxury of establishing the brand strategy first, then coming up with a name that's "in brand" is a huge boost to the strength of the connection to your audience.
Hope this helps.
Kevin Skarritt, Chief Nut, www.AcornCreative.com