The document discusses the key differences between naming a company versus naming a product. While the overall naming process is similar, company naming involves more senior level stakeholders, aims to accommodate potential shifts in business focus over the long term, and requires an available .com domain name. As a result, company names tend to be more abstract, coined terms rather than descriptive words, in order to satisfy these unique constraints. Product names on the other hand can be more specific since they do not need to accommodate business changes and are supported by an established corporate brand.