If your company has different products that are different from each other, you can use trade names to distinguish them. Use these guidelines to find a memorable, brand-compliant, and legal business name. A business name is the brand name of your business that you use for all marketing and promotional purposes. Registering a trademark can protect your business name. Learn how to get started with this easy-to-follow explanation of how the signup process works, how much it costs, how much it takes to time, and more. In addition, the trademark can be used in the online environment for the benefit of the trademark owner in various ways. A trademark protects your product`s brand or name from use by another company in a similar industry. An Employer Identification Number (EIN) is a nine-digit number that identifies your business for federal tax purposes. Find out what you need if you have a database administrator. For example, if you want to become a wholesaler one day, but you are currently a retailer, the name does not yet have to include the wholesaler name. This could mislead your customers. Typically, a business has both an official name and a business name.
Their legal name is the one that appears on government and legal forms such as their articles of association — documents that a company must file with the State Department in order to legally start a business. The best business name will strike a balance between uniqueness, creativity, and memorization. As a business owner, you have many options for paying yourself, but each has tax implications. Companies may use their trade names for commercial or promotional purposes. Think of it almost as a nickname for the company. Registering your company name at the state level prohibits other businesses from using the legal name you submit for your business. Your state may require you to renew your DBA application every few years or register in each county where you want to do business. This means submitting a form and paying a fee in each county, which can add up.
Need help filing a DBA name for your company? Book the DBA registration service now and let us take care of the process for you. Limited liability companies (LLCs) and companies must provide their legal name when registering the company. Unlike other business structures, the legal company name for LLCs and corporations does not need to include one of the owners` names to be the trade name. However, some states require LLCs and corporations to include “LLC” or “corporation” in their corporate name (e.g., Rockwell Technology LLC). A legal trade name is the official name of a business as recorded on government forms and legal documents. Registering a business name requires the following steps: Its official name since 1970 was “Wal-Mart Stores, Inc.” until 2017, when they were officially changed to “Walmart Inc.” But over the years, almost everyone knew it by a different name – Walmart. Most businesses only need to register with the federal government to obtain a Federal Tax Identification Number (SIN). If a partnership is formed with two owners, the surname of both partners may be the legal name. If the decision is made to use a name that is not the surname, the partners must establish a written partnership agreement containing the legal name chosen. The partners must then register the corporate name with the Secretary of State or the appropriate body. A trade name does not need to contain additional legal words or phrases (e.g., Corp, LLC, etc.). For example, the business name of a company is Mike`s, but its legal trade name is Mike`s Corporation.
A business may choose to have its legal and trade names identical. Just make sure you register your business names and follow all the necessary steps required by local and national laws to file a DBA. To choose the perfect name for your business, you should: When starting a new business, you should choose a name that can be used in your state and does not violate another company`s trademark. However, this does not mean that a small business cannot use a DBA name. A trade name keeps your brand in the minds of your customers. Typically, a business has both a legal trade name and a trade name. The legal, as mentioned, appears on legal documents and government forms. On the other hand, a trade name usually appears on advertisements and signs. A trade name can also be called a DBA (Doing Business As) name. That`s the name the public sees.
Think of it as your company`s nickname. Companies can use their trade name or DBA for marketing and sales purposes instead of their legal business name to attract more customers. But most of the time, the name you legally register is not the name by which your customers know you. Forming an LLC is a great way for business owners to limit their liability for corporate debt. Here is a step-by-step guide to forming an LLC. When it comes to what to call your business, you need to know if it`s more beneficial to use your business name or business name. Learn the difference between the company name and the business name below. You don`t need to have a business name; You can easily do business with your full official name.
However, if you decide to use a business name, you will need to register it with your state or county. To protect consumers (so they can determine who actually owns a company they`re interacting with), you`ll need to file a fictitious name statement (sometimes just called a DBA application) by filling out a simple form, paying a fee, and sometimes placing a legal notice in a newspaper. By registering this business name, you allow customers to use it freely without the risk of misidentifying your business. A business can have both a legal or registered name and a business name – but these have important differences and registration requirements that exist to protect you and your customers. The only way to be sure that you can have exclusive rights to a trade name is to register it as a trademark, which is a more complicated and expensive process that you can do with your state`s trade office. While giant companies are able to get away with extremely unique business names like “Exxon Mobil,” it will be difficult for a small start-up to get its audience to remember such a unique name. Recently, selling on the Internet is no longer an option for businesses. This is necessary if you want to reach more customers worldwide.
All you have to do is choose a business structure such as a limited liability company (LLC), corporation, or partnership in your state if you: Legal name. An official name is the official name of the entity that owns a business. The legal name of a sole proprietorship is the full name of the owner. If a partnership has given itself a name in a written partnership agreement, then that name is the legal name of the partnership. Otherwise, the legal name of a partnership consists of the last names of the owners. For limited partnerships, LLCs and corporations, the legal name is the name registered with the Secretary of State. A trade name is usually simply the name of the company where “Inc.” or “LLC” is omitted. So if your business is registered as Tasha`s Dog Grooming LLC, the name on your building`s sign, listings and receipts. The name your customers know is probably just Tasha`s Dog Grooming. The LLC vs company name can be two separate names and serve different purposes. The LLC name or legal name is the official name of the company used to sign documents, file tax returns, file lawsuits, or file a loan application with a bank. On the other hand, a business name or trade name is the name that the public uses to identify your business.
This can be on anything from business cards to websites to marketing pieces. You have the option to choose whether the two names are identical or not. There are many companies that use their legal trade name to do business. There are certain guidelines you should follow when choosing the legal name of a business. There are several ways to register your business name to protect it: Changing your business name requires a bit of work on your part. And the process can vary depending on the structure of your business. If your business name is long, complex, or difficult to pronounce for your target audience and customers, they may not remember it. But did you know that many companies use a second “legal” name on paper that is different from their catchy colloquial name? It is a mistake to register a DTA without first establishing a legal entity such as a limited liability company or other business structures. Instead, the state automatically recognizes your business as a sole proprietorship, so make sure you`ve registered your legal business name before getting a business name. It`s worth noting that in some states, registering your name doesn`t always deter other businesses from doing business under that name.
Generally, the right to a business name rests with the person who first uses the business name in their business, not necessarily the first person to register. Therefore, it is important to make sure that your business name is easy to remember if you also use it as a domain name. The official name of your business is the name you use on the documents you submit to start your business. If you own a corporation, this is the name on the corporation`s documents that you file with your state, including the articles of incorporation. If it`s an LLC, it`s the name on the LLC incorporation documents you file with the state. By filing these documents, you officially determine the legal name of your business. It is also the name that appears on your tax identification number or employee identification documents and it is the name used on your tax returns. The official name of your business is one of the first things potential customers notice.