Here's how to understand the naming:

* HClO3 is an oxyacid, meaning it contains hydrogen, oxygen, and another nonmetal (chlorine in this case).

* The nonmetal, chlorine, is in the +5 oxidation state.

* The suffix "-ic" indicates a higher oxidation state for the nonmetal.

* The prefix "chlor" comes from the name of the nonmetal, chlorine.

Therefore, the compound HClO3 is named chloric acid.