The more conventional advice is to read an excellent article like How to Name your Company. However I prefer the Xerox PARC method:
At PARC, we literally threw a dart at the map when we were starting a new project and needed a name. If it landed on a river or town, then that was the name of the project. I was looking at a map of this area and I noticed Adobe Creek – in fact, it runs right behind my house – and I said, "How about Adobe?" John thought about it and said, "Fine." And that’s how Adobe Systems came to be.