How To Apply For Business Name – One of the first things you do as a business owner is choose a business name. Your business can operate under your legal business name. Or, you can operate your company under a business name. So what’s the difference? Read on to learn more about company names vs. trade names and how they contrast.
What you call your business can make or break your company’s success. Sure, there are a lot of things that play a role in the success of your business. But, your company name is definitely a key component.
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Your business name is one of the first things potential customers notice about your business. It connects your customers to your products or services. With a good business or business name, your business is one step closer to being successful.
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When it comes to what you call your company, you need to know whether it is more beneficial to use your company name or your business name. Learn the difference between a company name and a trade name below.
A business name is the legal name of your business. It is the official name of the person or entity that owns a business. And it’s the name you use on government forms and business documents.
The legal name of a business can vary depending on the type of business structure. If you operate as a sole proprietorship, your legal name is your full name (eg Jason Williams). You can also include other words along with your full name (eg Jason Williams Insurance Corporation). However, you must include your full personal name if you have a sole proprietorship.
If you are the owner of a general partnership, the company name is usually a combination of the partnership owners’ surnames and must be included in the partnership agreement.
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Limited Liability Companies (LLCs) and corporations must establish their legal name when they register their business. Unlike other business structures, the legal company name for LLCs and corporations does not need to include any of the owners’ names to be the company name. However, some states require LLCs and corporations to include “LLC” or “Corporation” in their legal name (eg, Rockwell Technology LLC).
If a business owner wants to operate under a name other than the company’s legal name, they can use a trade name.
A business name must not include additional words or legal phrases (eg, Corp, LLC, etc.). For example, a company’s business name is Mike’s, but its legal business name is Mike’s Corporation. A company can choose to have its name and trade name be the same.
A trade name can also be called a business name as (DBA). It is the name that the public sees. Think of it as your business nickname. Businesses can use their business name or DBA for marketing and sales purposes instead of their legal business name to help attract more customers.
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If you want to operate under a name other than your legal business name, register a business name for your company. Each state and county has different rules for registering a DBA. Some require a separate fee and application for each DBA you register. Check with your jurisdiction for more information about registering a business name.
Usually, a business will have both a legal business name and a business name. The legal one, as mentioned, appears on legal documents and government forms. On the other hand, a trade name generally appears on advertisements and signs.
It is up to the company to determine whether or not it can benefit from using a trade name instead of the legal trade name. Using a DBA or trade name has its advantages and disadvantages. Before you decide to use a trade name instead of your legal business name, consider the following advantages and disadvantages of using a trade name.
Deciding what to name your business is not as easy as it might seem. Your company name tells consumers a lot about your business. So, you need a unique, memorable and attention-grabbing name.
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Selecting a business name to operate under is a big step. It takes some trial and error, patience and time to choose the right name. List business names you like and do your homework if they are available to use. If the name is already taken, go back to the drawing board.
After deciding what to name your business and checking its availability, register the name with your state.
As your business evolves, you may find that you want (or need) to change your company’s DBA name. You may be planning to add a new product line. Or maybe a partner has joined your company. Whatever the case, sometimes you need to change things with your business name to align with the changes you’re making to your company.
Changing your business name requires little work on your part. And, the process can vary depending on the structure of your business.
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Get started with free payroll setup and enjoy free expert support. Try our payroll software on a free, no-obligation 30-day trial. To come up with a unique business name, start by brainstorming and entering a few keywords that describe your business. This could be your product, service or specialty.
Next, select an industry that fits your business. If you sell items online, your best bet would be to choose retail, while a personal training business should opt for the health and fitness industry.
Creating a memorable business name is one of the most important aspects of starting a business. With new businesses popping up left and right, securing a unique and specific business name is crucial to generating interest in your brand.
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Fortunately, there are plenty of resources that can help you find a business name that reflects your company’s values and culture.
Our free business name generator can help you find a brand name that will impress and intrigue your target market.
When choosing a business name, it is essential to think long term. Ask yourself where you see your business going in the future and choose a name that matches that vision. To help you choose, we’ve come up with eight tips to get the ball rolling.
Different naming criteria for various industries can be difficult to sift through, so we’ve simplified how to name your business based on industry trends and real-world name suggestions to help you find the best name that appeals the target audience.
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In the fast-paced world of technology, start-up names tend to be short and to the point. It also helps to have a great name with a unique spelling and history behind it.
Creative industries like design have the freedom to choose a name that reflects their imagination. Whether you specialize in graphic design or architecture, there are many innovative ways to find the perfect name through mythology or words in different languages.
Retail and e-commerce are broad industries that include companies that sell goods to consumers online or at a physical store. Since there are so many stores on the market, think of a business name that is simple but specific to what you sell.
There are many ways to get in shape, whether it’s CrossFit, yoga, strength training, or an all-inclusive gym. Your health and fitness business name should not only indicate what type of fitness business you are, but also what sets you apart from the rest.
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Successful food and beverage company names allude to the cuisine they serve or the food products they sell. With lots of different food options for customers, making your name a pun or including a cultural twist can help customers remember you.
Once you’ve selected a great brand name, the next step in starting your business is registering the name with the state.
To check if your company name is already registered under someone else, you can use the USPTO’s Trademark Electronic Search System.
If the name you want is available, you will need to file articles of incorporation in your state.
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To do this, you’ll need a registered agent whose job it is to handle the legal documents on your company’s behalf. Once you’ve submitted your articles of incorporation, your company name is registered and legally exists.
After your name is registered, you will need an Employer Identification Number (EIN) from the IRS. With an EIN, you can hire employees, do tax reporting, and use it for your business bank account.
That said, opening a business bank account is another step after registering your business name.
To open your account, you must bring your EIN, business incorporation documents, ownership agreements, and business license to a bank of your choice. Some banks may ask for additional documents, so be sure to research your bank’s requirements beforehand.
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A good business name should be memorable, thoughtful and unique. Personalizing your business name by including your name is a quick and easy way to stand out from the crowd. Choosing a name with a meaning behind it
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