The official name of your business is one of the first things potential customers notice. Companies also use trade names to differentiate their brands, especially when they make a variety of products for different demographics. 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. 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. 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. Registering a business name requires the following steps: In some places, in order to have exclusive rights to the trade name, you must register it as your company`s trademark. This can be expensive and time-consuming, and it can be easier to find an official business name you like and do business under that name.
There are many initial tasks when starting a business, and persistent issues with a business name can prevent you from focusing on the first important steps of your business. However, a company`s trade name can be completely different from its legal name. You may have registered your business as Jameel`s Book Store LLC, but decide to call your business Best Books simply because it`s more memorable or simply shorter. This can mean wasting all the time, energy, and money invested in brand awareness of the discontinued name. If you use a business name other than the registered company name, the public has a right to know who actually runs the business. You must therefore submit a fictitious name (sometimes called a d/b/a declaration for « doing business ») to your district. 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 official business name is Mike`s Corporation. A business may choose to have its legal and trade names identical. The fact that a business name is usually not unique can cause problems for your business if someone uses the same business name. You must register to use the trade name, but this usually does not give you 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 make sure. For example, Walmart`s trade name is Walmart, but the company`s legal name is Wal-Mart Stores, Inc. (which will become Walmart, Inc. effective February 1, 2018). In some states, registering your company`s business name does not prevent other businesses from using it. 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 success. 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. 1. Are corporate names (corporate names) and trade names the same thing? At the very least, try to pronounce your business name clearly, memorably, and easily, and think about the impressions your name leaves on a potential customer. If a business owner wants to operate under a name other than the legal name of the business, they can use a business name instead. It is necessary to search for the names available in the state where you are filing. It`s always possible that your first choice has been made, so you need to be prepared with a few backup options for your LLC or business. Business names do not have to follow the same naming conventions as using the terms « LLC », « company » or your name if you are a sole proprietor. If your business name is long, complex, or difficult to pronounce for your target audience and customers, they may not remember it. This means that you can include your registered business name details in your business bank accounts. Your customers can write checks with the most memorable business name without fear of it being rejected.
Supporting LGBTQ+ businesses in June – Pride Month – is all well and good, but it`s also important to buy and empower this community of entrepreneurs and the businesses they support throughout the year. A business name is one of the first things that connect a customer to a company`s products or services. Make sure you register your company names and follow all the necessary steps to file a DBA. Please note that these requirements may vary from state to state. You should check the naming requirements to register your business name with state and local authorities. Corporations, LLCs, limited partnerships, and similar business entities are creatures under state law. They are created according to the law of a particular state, and the law of the state governs various aspects of their existence. One of these aspects is their legal name for the purpose of doing business in a state. A business name is also the name that your customers know and that you recognize as your business. You can find a business name that makes consumers aware of what they can expect from your product or service.
You can use the word company in the official name of your company if it is a company. If your business is an LLC, you must use « limited liability company » or an abbreviation approved by your state. Some states (like Washington, for example) require companies to register both a legal name and their business name to officially do business under both, but it`s not mandatory everywhere. The decision to register both often rests with the business owner. However, there are some advantages to registering trade names. Registering a business name also means that you can have a bank account for both names. So if a customer has a check to Meemas Auto Repair Inc. Written. or just at Meema`s car repair, you can cash the check as the bank has your registration papers for both names. Company Name vs Trade Name: What`s the difference between the two? Which one should you use? Can you use both? Choosing a business name under which to operate is an important step. It takes trial and error, patience and time to choose the right name. Make a list of business names you like and do your homework to see if they can be used.
If the name is already taken, go back to the drawing board. It is also known as the trade name, assumed name or fictitious name of the company. Whole Foods Market IP, Inc., for example, is simply known to people as Whole Foods Market. And they popularized this name by using it on their website and social media accounts. If you`re starting a business or LLC, you`ll need to register your company`s legal business name with your state. Name registration is simply part of your official business or LLC incorporation records. Whatever name you use in these submissions, it is your official name. Separate registration is not required. A business name is the name by which your business is commonly known, or the name you use when doing advertising or doing business.
A trade name is also known as DBA (doing business as). Walmart is a good example. The official name of Walmart is Wal-Mart Inc.