Legal Entity Business Name
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 part of Gap Inc. Learn more about how CT Corporation can help you name your business. Call us or contact us at 855.316.8948. 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. The name of a company is very valuable – it`s what you`re known for in the market, what your reputation is built on and what you`re trading from. But that doesn`t make it a trademark. One of the most commonly used terms in the world of compliance and governance is legal entity. This term resembles the embodiment of legal language; Both vague and specific, with multiple meanings and no meaning.
But it is the glue that holds the entities together. Simply put, without a legal entity, there is no entity to manage. Many states also prohibit certain words in a company`s name. Some are words that the state deems inappropriate. Others are designed to protect the public from misleadings. For example, a state may not authorize “insurance” on behalf of a company that is not an insurance company or may require the approval of the insurance department before authorizing the use of that word. They also prohibit words that indicate that it is a form of entity that it is not. Thus, a limited liability company could not have “company” in its name. A business name is the official name of your business. It is the official name of the person or entity that owns a business.
And that`s the name you use on your government forms and business documents. Small businesses with an e-commerce presence may be responsible for collecting and remitting sales tax to multiple states. Having a business name has certain advantages. This allows you to legally see what your customers might call your business, as they are likely to drop the designation “LLC” or “Inc.” By registering a business name, you can freely use the trade name without fear of misidentifying your business. 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. 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. 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. 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. Walmart`s legal trade name is Wal-Mart Inc., but its trade name is simply Walmart – that`s the name it uses in its advertising and website, and what most people call it. However, its official name, which appears on all government documents (corporate returns, taxes, compliance, etc.), is Wal-Mart Inc. Note that before filing your incorporation documents, you can do a name search with the state to see if the name you want to use is available. You may be able to retain a name (for a fee) until you can submit your documents, but this is not a formal record of the name.
In order for your LLC or corporation to do business in states outside of its state of incorporation (known as foreign qualification), your company name must also meet the legal requirements of the foreign state(s). Company name. “Trade name” is a collective term that refers to all the names of a business – its legal name, its legal name, its fictitious legal name and the names of its products and services. In this context, the term “company name” should be recognized as a generic term, as it does not distinguish between more specific types of company names. States generally require that the legal name of your LLC or company include certain words that indicate the structure of your business. If you want to operate under a name other than your company`s legal name, register a business name for your business. Each state and county has different rules for registering a DTA. Some charge a separate fee and request for each DBA you register. Check with your jurisdiction for more information on registering a business name.
Your business can only have one “legal” name at a time. However, it can have any number of aliases or DBAs (“doing business as”). So if you have other business name ideas, you can use them as database administrators. For example, if the official name of your LLC is “Smith and Jones, LLC”, you can file a DBA to do business as “Best Painters” and another DBA to do business as “World Wide Painters”. You can use these DBA names on your website, in signs, advertisements, promotions, etc. However, there are a number of states where adopted names must be indistinguishable, meaning that more than one company can register the same alias. While your name reservation is in effect, other businesses will be prevented from incorporating, qualifying, reserving, registering, or changing their name to your reserved name with that state office. If you form or form an LLC in one state and plan to do business in other states, you can also request a name reservation in the other states. A trade name can also be called a DBA (Doing Business As) name.
