Does A Business Name Enjoy Legal Personality?

How do I come up with a catchy business name?

How to come up with a business nameUse acronyms.Create mash-ups.Get inspiration from mythology and literature.Use foreign words.Use your own name.Take a look at a map.Mix things up.Partner with another company.More items….

What are the disadvantages of registering a company?

The disadvantages of a private company: You may need to audit or review your financial records every year. Shares cannot be offered to the public and you can’t register on the stock exchange. There are many legal requirements which are best attended to by a professional.

What are the benefits of having a business license?

Another benefit of a business license is that it lets you open up shop! This administrative benefit allows you to launch your business and stay open to operate. Beyond that, your licenses will help with taxes. The government will use your license to see how much money the business has put in your pocket.

What is the difference between a business name and a company?

In summary, a company name is selected upon incorporation and creates a separate legal entity, distinct form its owners. Whereas a business name is selected when carrying on a business under a name other than the true owners name, no legal entity is created and there is no limitation on liability.

Can I name my business anything?

Generally, as long as no one else in your state is using that business name, you can call your company whatever you like. Names are doled out on a first-come, first-served basis. … That said, you can run into trademark issues if your business and another’s fall within the same category or are substantially similar.

Can I use Ltd in my business name?

‘Limited’ should not be used in trading names Most companies trade under their official registered name, which will usually end in ‘Limited’ or ‘Ltd’. … Business names (also known as trading names) can be any name that does not infringe another company’s trade mark and does not contain any offensive or ‘sensitive’ words.

Should I use my name for my business?

Using your own name maximizes the value of your personal credibility as a respected and reputable supplier in your market. … Makes your business memorable: Your own name is so specific that it helps people remember your company, especially if they already know you as an individual or if your name is distinctive.

How much does it take to trademark a name?

The cost to trademark a name at the federal level ranges from $225 to $400 plus legal fees or $50 to $150 for a state trademark. The average cost to trademark a logo is $225 to $600 plus any legal fees. Get free estimates from trademark attorneys near you.

What is the difference between a business legal name and trade name?

In a nutshell: A registered or legal name is your business tax ID number, used by federal and state taxing agencies, banks, and for other legal purposes. A trade name is used for advertising or trade purposes.

How do I name my business legally?

Registering a trademark for a company name is pretty straightforward. Many businesses can file an application online in less than 90 minutes, without a lawyer’s help. The simplest way to register is on the U.S. Patent and Trademark Office’s Web site, www.uspto.gov.

Does my business name have to be unique?

If you are satisfied that the name you want to use is unique within your industry, then you should feel pretty safe about using it. However, if you have found evidence that there may be another business that is already using your business name, or a very similar name, then you should be careful.

What is the benefit of registering a business name?

Registering your company name helps you start creating a brand identity. When you register your business name you can check whether the name you want to use is unique and not similar to an existing company name or trademark.

Can two companies have same name?

A company cannot have the same name as another registered company. Any company formation or change of name application containing a company name that is the ‘same as’ or ‘too similar’ to an existing name will be rejected by Companies House. These rules exist to protect the general public from being misled or confused.