Naming of chords is important to recognize chords that other guitar players are playing so that you may know what to play overtop of them. Also it makes it signifigantly easier to teach songs to other people if you know what the chords you are playing are called.

There are limitless names to the different types of chords. There is everything from your basic major chord to a augmented 5th suspended fourth minor diminished 13th (forgive me if I screwed that name up, it was just an example). It is impossible, and I mean IMPOSSIBLE to know all that names of every chord that is possible. But what you can do is to recognize different intervals relating to the root note, to help you in naming a chord and also to know what most basic and somewhat more complex chords look like.

There are two subsections on this part of the page. There is "recognizing intervals" and "naming chords". The first is a diagram of what the different intervals relating to the root note are. The second is how to name a chord that you played (using the interval chart).