Taxonomy is the scientific method of naming each and every animal. The primary use of taxonomy is so that when biologists talk to each other, they know exactly which animal the other is talking about. The biological names are always in Latin - this was decided long ago when Latin was more popular, and it would involve massive effort to change the system now. The person who discovers a new animal earns the right to name it (in Latin), and usually names it after a physical trait or habit of the animal (although there are no hard and fast rules to naming). Many animals are named after the person themself, or their daughter, son, wife, etc...