Julia is a writer in New York City and started reporting on technology and economics during the pandemic. She also deals with books and the publishing industry. The company name is the legal name under which your business is registered for official tax and government purposes. It is important to have this name so that you can officially do business by hiring employees, providing services, and getting the equipment you need to do business. Some companies create different trade names for different parts of their business. Gap Inc., for example, operates under the names Old Navy, Athleta and Banana Republic, although all of these brands are only a part of Gap Inc. For businesses or LLCs, you must have a unique name that cannot be confused with other entities. If the name is selected, it must be registered with the relevant government agency. Usually, it is the Minister of Foreign Affairs. Regardless of the name under which you operate, you need to keep an eye on the transactions.
Patriot`s online accounting software is easy to use and offers free support in the United States. Try it for free today! Small businesses with a presence in e-commerce may be responsible for collecting and remitting sales tax to multiple states. If you want to operate under a name other than the legal name of the company, you will need to register the business name of your company. Each state and county has different DBA registration rules. Some require you to pay a fee and submit an application for each DBA you want to register. To choose the perfect name for your business, you should: As a general rule, a company has both a legal name and a business name. Their legal name is the one that appears on the government and legal forms such as their articles of association – documents that a company must submit to the State Department in order to legally form a company. To register a company name, first verify that your name is unique by searching for business unit names, domain names, and a federal trademark search. After that, depending on the needs of your business, you can reserve a name, form an LLC or a company with it, file a DBA, or file a change in the legal name of your business. However, there are benefits to submitting a name reservation, such as if you find a unique name for your business but don`t want to form your LLC or company right away.
However, a company`s business name can be something completely different from its legal name. You may have registered your business as Jameel`s Book Store LLC, but choose to refer to your business as Best Books simply because it`s more memorable or simply shorter. As your organization grows, you may find that you want (or need) to change your company`s DBA name. Maybe you`re considering adding a new product line. Or maybe a new partner is joining your company. Creating certain business entities, filing an adopted name, or registering a trademark can help you protect trade names. If your business ends up with an “Inc.” or “LLC,” you may find that you drop those letters when you advertise or talk about your business. To protect yourself and your company name and to comply with legal requirements, you will need to complete additional documentation to cover all the names you use. Whatever name you decide to call your business, it`s beneficial to know the differences between a company`s name and your business name. To help you, we have compiled important information about company names and trade names. When it comes to how you call your business, you need to know if it`s more advantageous to use your business name or the business name.
Find out the difference between the company name and the trade name below. DBA is simply an acronym that means “doing business like”. It is a term that refers to the trade name of a company. In other countries like Canada or England, DBA is sometimes considered T/A (Trading As) or O/A (Operating As), but they all mean the same thing. If you form an LLC or corporation, you will need to provide your company name when filing documents with the state. This name will become the official legal name of your company. However, the company name doesn`t have to be the customer-centric name you use. This is what the trade name, or the DBA (doing business as) name is. It is important to know the difference between a trade name and a business name. Here`s what you need to know.
Deciding how to call your business isn`t as easy as it sounds. The name of your company says a lot about your business. So you need a unique, memorable and attention-grabbing name. It`s also a good idea to see if anyone else in your industry already has a name similar to the one you want to use. You can do this by searching for search terms related to your industry and brand. You can choose a different business name to stand out from the rest. What you need to do with the name of your LLC depends on whether you are already in business or forming a new LLC. For step-by-step instructions on common LLC naming scenarios, see: Some states require limited liability companies and limited liability companies to include “Company” or “LLC” in their legal name; for example, The Bob Smith Ice Cream Corporation or Bob Smith Ice Cream, LLC. Even if you`re an established small business owner, we can help you get the financing you need, whether it`s for advertising, inventory, payroll, or something else. If the fictitious name of the company is registered with the state, you can open commercial bank accounts that create a more transparent financial process.
In addition, the fictitious name should not be close to the name of another company, even in your sector. This can lead to lawsuits against state and federal competition laws. If the lawsuit is lost, there will be significant financial damages and your business may need to be renamed. For more information on registered business names, please contact your jurisdiction. A sole proprietorship is the simplest type of business. A sole proprietorship is an informal business structure that does not offer protection of personal assets and does not need to be subject to the state. The fact that a business name is usually not unique can cause problems for your business if someone chooses to use the same business name. You will need to register to use the trade name, but this usually does not give you the exclusive rights to the name. However, in some states, registering a business name gives you exclusive access to it. It depends on where you are, so you should check your local laws and contact an expert to be sure.
This is the name that customers and customers know your business to be in the “real” world, as opposed to legal filings with the government. A trade name may be completely different from your company`s official name, or it may simply remove the commercial legal extension (LLC or Inc.). For example, Disney Consumer Products and Interactive Media is marked under the trade name The Disney Store, which is more of a shame (and less of a full bite). Payment of a company name is made upon submission of documents such as name reserves, incorporation documents, CDI submissions and legislative changes to the secretary of state or the competent department of the state in which the company is founded or exists. Business structures can be formal or informal and are how your business is formed, operated and taxed. We cover all of the following naming requirements for the following business structures: If the company is voluntarily dissolved or withdrawing from the rule, the name will also be available to others, depending on state laws, unless it is restored. Take the time to consider these factors to make the best decision for your small business. Once you`ve decided how you want to name your business and check its availability, register the name with your state. List the names of the companies you like and see if they are available. If the name is already in use, try again and try again. Once you`ve chosen a name for your business and see if it`s available, you need to register the name in your state. When choosing a legal name, the first step is to decide what type of business the business will be.
If the business is a sole proprietorship with an owner, the name may be the name of the owner. All documents can then be signed with the name, and no further steps are required. An Employer Identification Number, or EIN, is a nine-digit number that identifies your business for federal tax purposes. Find out what you need if you have a DBA. If you own a partnership, the partnership name is usually a combination of the surnames of the partnership owners and must be included in the partnership agreement. Usually, a company has a legal company name and a business name at the same time.
