A crucial step in launching a new business is selecting a name. Customers notice it right away, and it serves as the cornerstone of branding and marketing tactics. However, with so many companies in the same field, it might be difficult to come up with a distinctive name that distinguishes your company. This is the reason why company owners frequently ponder how distinctive their company name might be from another. This article will investigate the degree to which business names can be similar and provide some pertinent information. Is it necessary for me to copyright the name of my company? The quick response is no. A business name does not have a copyright, unlike patents and trademarks. Nevertheless, you can secure your company name by trademarking it. When you trademark your company name, it becomes legally impermissible for anyone else to use it. This is an essential step in preserving your reputation and brand. Can a corporation and an LLC share the same name?
No, a company and an LLC cannot share the same name. Every state has different standards for LLC and corporate names, but in general, a business name needs to stand out from others in the same state. As a result, an LLC cannot utilize the same name as a corporation that already possesses the name, and vice versa. However, it is feasible for both an LLC and corporation to have the same name if the business operates in various states. Is My LLC Private or Public?
An LLC is a private company, hence it is not traded publicly. Members of an LLC are the owners who are protected from certain liabilities. Their personal assets are so shielded from business responsibilities. The LLC itself is not shielded from public data, though. The Articles of Organization and other LLC formation paperwork are typically public record and accessible to anybody in most states. How Can I Discover Who Owns an LLC?
It is not as easy to determine who owns an LLC as it is with a corporation. The amount of shares owned does not define ownership in an LLC, nor are a board of directors or officers necessary. Instead, the members decide who owns an LLC. The names and addresses of LLC members must be included in an annual report that must be filed in the majority of states. The website of the state’s secretary of state is where you may get this report.
In conclusion, company names ought to be distinct from those of other companies in the same state. It is strongly advised that you trademark your company name to protect it. A corporation and an LLC cannot share the same name, because an LLC is a private organization whose members decide who owns it. Through the state’s Secretary of State website, you can learn who owns an LLC. Business owners can adopt a distinctive and legally protected name for their company by being aware of these laws and restrictions.