The choice of a company name is one of the most crucial decisions an entrepreneur must make when beginning a firm. But it can be difficult to tell the difference between a trade name and a corporate name. A trade name is the name under which a firm works and markets its goods or services, whereas a business name is the legal name of a company registered with the state. The question of whether a business name and trade name can be the same then arises.
Yes, a company name and a trade name may be the same. It is crucial to remember that using a trade name does not grant a company sole ownership of that name. As long as they do not violate any trademarks or copyrights, another business may use the same trade name. Therefore, it is advisable to carry out a comprehensive investigation to make sure the trade name is not already being used by another company.
A company must register its trade name with the state if it chooses to use one that differs from its official business name. The filing for a “doing business as” (DBA) name is another name for this registration procedure. To engage in activities under its trade name, such as establishing a bank account or signing contracts, a company needs a DBA name.
The Arizona Corporation Commission (ACC) must receive an amendment before an LLC in Arizona can change its name. The new name of the LLC must be stated in the amendment, together with a declaration that the members of the LLC have approved the name change. The amendment has a $25 filing fee.
Depending on the county in which the firm is located, different amounts are required to get a DBA in Arizona. For the initial registration, Maricopa County charges $50, while Pima County just $10. Every five years, the registration must be renewed.
Businesses are not required to acquire a general business license in Arizona. However, some occupations, including those of contractors, real estate brokers, and cosmetologists, call for a license or certification. According to the occupation and the county where the business is located, these licenses range in price.
A company in Arizona must submit a cancellation form to the ACC in order to revoke a DBA. The business name, the DBA name that is being canceled, and the explanation must all be included on the form. The termination of a DBA is free.
A business should register its trade name with the state and do a thorough investigation to make sure that the name is not already being used by another business, even if a business name and trade name can be the same. In order to rename an LLC in Arizona, an amendment must be submitted to the ACC along with a $25 charge. Depending on the county where the business is located, there are different filing fees for a DBA, and some professions might need a business license. In order to terminate a DBA in Arizona, a cancellation form must be submitted to the ACC; there is no cost associated with this procedure.