Hey there. What I've done in the past is make a long list of words that could be applied to what your company does, how it does it, who it's designed for, etc. Grab a thesaurus and look up synonyms for words that are particularly applicable. Then, start combining different words and see what you come up with. Swap some vowels (a's for e's, o's for i's, etc.) and get creative. Eventually, you'll come up with a list of names that are at least partially relevant to what your company does and hopefully look and sound decent. You may want to search for words in other languages as well (Latin is a good one) for more variety. It takes a long time to come up with a great name that you and your team like, that is at the same time not trademarked and also has a domain available relatively cheap.

No matter how arbitrary a name sounds, it almost always has direct meaning for the company. Google was originally called 'Googol', which is a very large number (10 to the hundredth power) and was meant to convey how much information Google indexed. Twitter is perfect because it implies that the service is about short bursts of information (tweets) much like a bird chirping (would the name Chirpr sound as good? Naw). You also have to think about how the name sounds when it's spoken, and if people can easily remember how to spell it when they go to type it in the address bar of their browser.

Guy Kawasaki wrote a decent article about naming companies a few years ago which you can find here: http://blog.guykawasaki.com/2006/02/the_name_game.html#axzz1... . I can't agree with all of the points but there's some good stuff in there. Whatever you do, don't compromise on a great name. If you're embarrassed to tell people what your company is called, that's not a place you want to be in. Take the time to do it right and you'll reap the rewards tenfold down the road. Best of luck to you.