Can You Hold a Company Name?

Choosing a name for your business is one of the first stages in launching a venture. However, just because you’ve decided on a name doesn’t imply you have the only right to use it. In actuality, other companies can be utilizing the same or a related name. Consequently, the question arises, “Can you hold a company name?” It depends, is the succinct response.

Company names are registered at the state level in the United States. As long as they are located in different states, two firms can share the same name. The same name cannot be used by two businesses operating in the same state, nevertheless. The first company to register the name with the state in this instance has the only right to utilize it.

You may use a virtual address in Virginia for your LLC, yes. A virtual address is a service that gives your company a real mailing address without the need for an actual office. This is a fantastic choice for LLCs who conduct business online or have contractors. It’s crucial to keep in mind that you will still want a registered agent in Virginia, who must reside in the state physically. What Does It Cost to Form an LLC in Virginia?

Depending on the kind of business entity you select, Virginia incorporation fees change. The filing fee for an LLC is $100. The filing charge for a corporation is $75. Additional charges can also apply for services like expedited processing or other offerings. To choose the optimal entity type for your company and to make sure that all required fees are paid, it is advised to speak with a business attorney or accountant.

In Virginia, an LLC is permitted to own another LLC. A parent-subsidiary connection is what is meant by this. It is significant to remember that every LLC must have unique legal and financial responsibilities. Furthermore, if the parent LLC is a member-managed LLC, all members must agree on any decisions the parent LLC makes for the subsidiary LLC.

It’s crucial to select a registered agent for your Virginia LLC. A registered agent is in charge of receiving official correspondence and other crucial notices on your company’s behalf. Picking a dependable and trustworthy person to serve as your registered agent is crucial. This could be a person or a business that offers services as a registered agent. Choosing a person with a Virginia physical address and availability during regular business hours is crucial.