A crucial first step in building your brand is naming your company. It is crucial to confirm that Virginia does not already have a company using the name you intend to use. To prevent legal issues and the possibility of having to change your business name in the future, it is crucial to confirm the availability of a name for your company. The steps to take to determine whether a business name is available in Virginia are listed below.
All companies registered in the state of Virginia are included in a searchable database kept by the SCC. Utilizing the SCC website’s Business Entity Search function, you can look up existing company names. If you want to see if a business name is available in Virginia, this database is a smart place to start.
Even though a company name is already in use in Virginia, another company may still have already trademarked it. A company name that has already been trademarked cannot be used by another company operating in the same sector of commerce since trademark protection is conferred at the federal level. Use the Trademark Electronic Search System (TESS) of the USPTO to look for trademark status for a company name.
The drawbacks of a DBA
A business that operates under a name other than the legal name of its proprietors is known legally as “doing business as,” or “DBA.” Operating as a DBA has a number of drawbacks. The business owners’ legal protection is not provided by a DBA, to start. Second, a DBA does not distinguish between private and corporate assets. Third, a DBA offers no tax advantages. Is it Beneficial to Obtain a DBA? The value of obtaining a DBA will depend on your particular circumstances. A DBA could be an excellent choice if you run a small business and lack the funds to form a distinct legal body. However, creating a distinct legal organization, such as a corporation or limited liability company (LLC), may be a preferable choice if you have large personal assets that you wish to safeguard or if you intend to grow your business. Does a DBA Substitute Filing a Separate Tax Return?
A DBA does not submit a different tax return. The owner’s personal income tax return must include any income from a DBA. However, it could be necessary to file a different tax return if the DBA is a partnership or a multi-member LLC.
A trademark application must be submitted to the USPTO in order to register a company name. The application must be supported by documentation demonstrating the business name’s use in commerce as well as a description of the products and services connected to it. Once a trademark application has been authorized, the business name may only be used in connection with the products and services listed in the application. The ten-year term of trademark protection can be extended indefinitely.
In conclusion, determining whether a business name is available in Virginia is a crucial first step. To be sure that the name you intend to use is not already taken or trademarked, it is crucial to conduct searches in both the Virginia SCC database and the USPTO’s TESS. While a DBA may be a wise choice for some companies, it does not provide the same level of tax advantages and legal protection as an LLC or corporation. Finally, you must submit a trademark application to the USPTO if you wish to register your company name as a trademark.