How to Register a Business Name
If you’re working from home, or contemplating working from home, you may have been thinking about registering a business name. A business name can help distinguish you from your competitors and ensure you are creating the right image for your business. It’s the name by which your customers and the people you deal with will recognize and remember you.
What is a Business Name?
A business name is simply a name under which a person, or other legal entity, trades. If you want to use a business name other than your own legal name, you may be required to register the business name with your state and/or local government. You may even be required to register your own name, if that is what you choose to trade under. By default, the legal name of your business will be your full name if you are a sole trader. For partnership agreements, the legal name defaults to the last names of the partners. Would Google be as well-known today if it had been called Page and Brin (the names of the founders)? What about Microsoft? Better as Gates?
Does Registering a Business Name give me any Ownership Rights?
A business name registration does not give you any ownership rights to that name in itself. Only a trade mark gives you that kind of protection. So if you want exclusive use of your business name you would also need to register a trade mark. I will be talking more about trade marks in future posts.
How to Register a Business Name
So, how to register a business name. You will need to check availability of business names in your location. The easiest way to do this is to carry out an internet search on “registered business names” and look through data bases. If you live in the US, this link is a good place to start. Even if a business is already operating under a name you would like to use, you may still be able to use it if the existing business offers different goods/services to you or they are located in a different area. Depending upon where your business operates, laws may vary, so check with your state/government to make sure you comply with regional policies.
Does it cost a lot of money?
Not really. For something as fundamental as your own business name, it does not cost a huge amount of money. There will be a fee to pay when you register your business name, in the region of $100-$300, and there is also an ongoing fee, payable every 2 or 3 years – check details for your particular location with your state/government. There are companies who will search data bases and register your details for you, but they will of course charge an extra fee for this service. I have not personally used the services of such companies as I found it quite straight forward (and cheaper) to do the search and register myself. You decide what is the best option for you.
What happens next?
That’s up to you. But I suggest you get down to some business!
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2 Comments August 4, 2009
