Created by bringing two words together. In many cases, it’s two complete, real words used to create one. It is not uncommon for at least one of the words to be truncated or even misspelled, especially in order to avoid a long name. However, when parts of a composite name are truncated or misspelled, enough of the original term exists in order for it to be evident. Composite names are often used when a name needs to communicate a balance of different attributes—they can create a tension or a complement of attributes—and they can help expand a current definition by adding a new attribute. They are a common alternative approach to real word names, especially if finding a real word becomes difficult from a trademark perspective. Some examples of a composite name include NetFlix and Instagram, which bring together truncated terms and idioms; TurboTax, which adds an attribute to a descriptive term; and Facebook, formed from two real words.
Resources: 10 Most Common Naming Mistakes