How To Get A Doing Business As – Did you know that doing business under a different name (or DBA for short) is completely legal? However, in most jurisdictions, a person can only do business under their own name, and a corporation or limited liability company can only do business under the name listed on its articles of incorporation, unless a DBA name is registered, which is done by filing with the state.
If the firm has only one or several owners, its legal name is the name of the owner or partners. When referring to a corporation, limited liability company (LLC), or other statutory entity, the name on its founding document is the official name (eg, its articles of incorporation or bylaws).
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DBA registration is used to let the public know that a person or company is doing business under a name other than their legal name. Assumed title laws (DBA) are consumer protection laws. Businesses must register so that customers can identify who they are doing business with.
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Establishing a DBA is not the same as establishing a legal business entity. If you start your business under a DBA instead of incorporating or forming an LLC, your state of incorporation will treat you as a sole proprietor.
You can use your fictitious business name to legally do business in this state as a sole proprietor, but you won’t have the protections afforded by a corporation. This puts you on the hook for all of the company’s financial obligations.
Those who form a limited liability company (LLC), limited partnership (LP), limited liability company (LLP), or corporation (either a C corporation or an S corporation for income tax purposes) are protected from personal liability for debts and actions companies. Business property and debts are the responsibility of a corporation, LLC, LP, or LLP.
Investors, participants or partners are not. This is a great advantage of forming a corporation. Documents to register a DBA name must be filed after the incorporation of a corporation, LLC, or other entity if the business intends to use a name other than the one listed in the incorporation documents.
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Note that you will need to qualify abroad in each state where you intend to expand operations. Unqualified corporations, limited liability companies and other statutory business entities are prohibited from conducting business within the state.
Failure to comply will have consequences. Your Certificate of Authority will reflect your legal name in the states in which you are authorized to do business. If you want to legally do business under a name other than your legal name, you must register your DBA name with your state government.
The most common scenarios in which a company registers a DBA are listed below. Keep in mind that these factors can vary depending on the type of company being discussed. Compared to a corporation or limited liability company, the reasons why a sole proprietorship uses an assumed name are different.
You should use a name other than your own in business. It is a fundamental choice for individual companies and public companies. To avoid confusion between business and personal records, a DBA must be filed if a business name other than the owner’s legal name is to be used. Therefore, you may want to change your company name to protect your privacy.
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In other words, you’re looking for a more memorable name. A sole proprietor or business partner may want the name to stand out from the crowd or express the nature of the business. The name John Smith Gardens would be the name of John Smith’s horticultural company.
However, you may prefer to operate under the name John’s Flowers and Gardens. In the case of public companies, the name of the company is the same as the name of the partners. If you want to do business under a name other than your own, a DBA must be filed with the state.
A DBA is required to set up a business bank account at your bank. A DBA is usually required for sole proprietors and partners in general partnerships to open a business bank account. Banks usually require proof of registration, such as a DBA application or certificate of assumed name, before they will allow you to open an account under a new name.
Your company’s new focus does not match the name it currently uses. When a company or LLC wants to expand into a different industry or start selling products and services under a different name than its official name, it often registers a DBA.
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In some ways, a more specific name might help. Let’s say you run Summer Sprinkler Systems Inc., which installs and repairs sprinkler systems, and you want to expand your business by providing snowplow services in the winter. For this aspect of your business, you could register DBAs as plowing specialists.
Doing business under a false name (DBA) allows you to impersonate another company or website. If you want to do business using a company domain name, you must first fill out a DBA. When your company name cannot be used as a domain name, this is a great option. It is not unusual to want to run multiple businesses or websites at the same time.
Think of your company as a company that makes and sells handbags for women. You also make bags for teens and tweens, right? You file a DBA to register a fictitious business name and create a separate website aimed directly at this demographic, knowing full well that they would never buy from the same company or website as their mother.
Increase the credibility of the company. If you’re a one-man show or in a loose alliance, using the DBA name can give your business some serious weight.
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Public announcement of your new business identity. When a business registers a name to be used in business under a different legal structure, it is called a Business Name As (DBA) and becomes part of the public record. Keep in mind that filing as a DBA may not protect you from another person registering the same name in some states.
To make it catchier, of course. It’s possible that the official name is too complicated for its own good, too long, hard to pronounce, easy to forget, or too unfriendly to search engines.
There are some obvious things that need to be done, like coming up with a name and a logo, but what about the other, less glamorous but no less important steps? There are many things to do when starting a business, such as coming up with a business plan and marketing strategy.
You probably know what you want to sell online, or at least know what market you want to target if you’re considering starting a business. Find some companies that are already established in the field you want to enter.
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Research the practices of successful brands in your industry to see where you can improve. If you have a unique selling proposition or if you can provide the same product or service at a lower price and in less time than the competition, you may be ready to develop a business plan.
Another option is to start a franchise similar to an already successful business. Everything but a suitable location and seed capital is in place, including the idea, brand recognition and business model.
No matter what steps you take, it is imperative that you fully understand the idea behind your plan. Stephanie Desaulniers, owner of Business by Dezign and former director of operations and women’s entrepreneurship programs at the Covation Center, advises startup founders to determine the value of their idea before writing a business plan or coming up with a company name.
Creating a business plan requires extensive market research in your chosen area and the demographics of your target customers. This can be done through surveys, focus groups, search engine optimization (SEO) and public information.
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By conducting market research, you can learn more about your ideal clientele, their wants and habits, and the market as a whole. To better understand the opportunities and constraints in your market, many small business professionals recommend compiling demographic data and conducting a competitive analysis.
Best-in-class small businesses offer something unique in the market. This will change the competitive landscape and help you convey extraordinary value to potential customers.
When creating your business plan, it’s also wise to think about how you might eventually leave the company. Creating a plan for when you will leave the company forces you to think long term.
Josh Tolley, CEO of Shyft Capital and Kavana, has noticed that many first-time entrepreneurs don’t spend enough time developing an exit strategy because they’re so focused on building their company and attracting customers.
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As with any endeavor, there will be expenses associated with getting your business off the ground, and you’ll need a plan to deal with them. Will you need to take out a loan to get your business off the ground or do you already have the necessary capital? Have got
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