Buy A Name For Your Company
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Buy A Name For Your Company
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Determining the best way to register a business name will take into consideration several factors, such as the business structure, the geographical area in which the company will operate, and the extent of protection needed.
To illustrate the possibilities, we will explore the various options of a fictional business. In our example, Robert Hansen opens a residential home rental business after buying one house for this purpose. He begins by operating as a sole proprietorship and uses the name "Robert Hansen, Property Rentals" for the business. In time, Robert acquires more properties and decides he wants a new name for his business.
One option for Robert is to create a corporation or an LLC. To do so, he must file certain registration documents with the appropriate state agency. This requires the business to choose its legal name.
State laws prohibit a company from using a name that is already being used by another company. So, part of selecting a name involves checking the state's records to be sure another company is not already using the desired name.
Robert wants to use the name "Sunrise Properties" and determines that name is available. He might file articles of incorporation under the name "Sunrise Properties, Inc." Or, he might file articles of organization under the name "Sunrise Properties, LLC." This would prevent other companies from using the name "Sunrise Properties" in his state.