Business terminology

Can I call my small business a company? Can I put the word “”company”” in my business name? You can only use the word “”company”” in your business name if your business is a corporation. Read more on howtostartanllc.com One of the most crucial decisions you’ll have to make when starting a small business is … Read more

What is foreign register? A Company may, if so authorised by its articles, keep in any country outside India, a part of the “”Foreign Register”” containing the names and particulars of the members, debenture-holders, other security holders or beneficial owners residing outside India. Read more on www.lawrbit.com The term “foreign register” describes a list of … Read more

Is licensed correct? Note: According to the Oxford Dictionary, when it comes to adjectives, licenced may be used. But licensed is more common. In American English, license is both a noun and a verb. Read more on ontariotraining.net It’s essential to grasp the proper terminology to use when recording financial transactions if you’re a business … Read more

Why are owners of LLC called members? The owners of an LLC are called its members. Depending upon the size of the organization, an LLC member can assume a position resembling a partner, passive investor, or a sole proprietor. They cannot draw salary since the business profits are considered personal income and are subject to … Read more

What is the difference between the act of doing business and a business? Doing business is actually running a real business and producing economic value by serving real customers, generating revenue and making profits. Playing business is acting like you are running a business but without actually doing business. Read more on www.inc.com The terms … Read more

What does the term business mean? The term business refers to an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or they can be non-profit organizations that operate to fulfill a charitable mission or further a social cause. Read more on www.investopedia.com The word “business” is frequently … Read more

What does inactive mean on Sunbiz? InActive: An inactive status means the company was dissolved voluntarily, so the name could be available for use. INACT/CV: This status means that the company has become inactive due to its filing of an entity conversion. The name might be available for use. Read more on www.upcounsel.com The Florida … Read more

Is a trade name the same as a business name? A trade name is the name your business is commonly known as or the name you use when advertising or doing business. A trade name is also called a DBA (doing business as) name. A good example of this is Walmart. Read more on www.legalzoom.com … Read more

What is firm name? “”Firm name”” means a name of the firm or unit of the firm which identifies the firm or a unit of the firm and allows to distinguish it from other firms and units of firms. Read more on www.legislationline.org A firm name is a distinctive identifier for a company or organization … Read more

What does PC stand for in business? Professional Corporations Professional Corporations (PC) are corporations for certain occupations – typically, service professions like lawyers, doctors, architects and the like. A professional corporation isn’t allowed to branch out beyond the services for which it was specifically incorporated with the state. Read more on www.forbes.com There are numerous … Read more