A term used to name a product, service or company that is not related to the industry in which it functions or in any way describes the offering. There is little immediate association between what the word means and what the product or service does. In most cases, abstract names use real words or lightly coined names. Commonly, the reason the word is picked is because it’s important or personal to the founder, suggests something about the origin of the organization, is evocative of a bigger metaphor, or borrows from a story or myth that either helped form, or resonates with, the idea behind the organization. Some examples of what are considered abstract names includes Apple, Google and Starbucks.
Also know as: arbitrary names
Resources: 10 Most Common Naming Mistakes