By registering your trading name, you can protect your brand identification and stop other companies from using a similar name. Additionally, it enables you to register a business bank account and take payments under the name of your company. A registered trading name can also give your brand more respect and professionalism if you intend to grow your business or enter into contracts with clients.
You can submit a trademark registration application to safeguard your trading name. As a result, you will have sole authority to use the name and no one else will be able to do so without your consent. Even though trademark registration can be a time-consuming and expensive procedure, your company may benefit in the long run.
There are other ways to safeguard your trading name if you are unable to afford to trademark it. Even if a name is not formally registered, it can be trademarked by using the TM symbol. Additionally, if another company is using your trading name without your consent, you can keep an eye on it and take legal action.
A DBA and a trade name are virtually equivalent. Both terms refer to the name a company uses to identify itself, which may not be the same as the legal name of the company. If you conduct business using a name other than your own, you may need to register a DBA in some states. However, registering a DBA is optional in other states. You must register a DBA with the Hawaii Department of Commerce and Consumer Affairs if you are beginning a business in Hawaii and intend to use a name other than your own. The cost to accomplish this is presently $50 and you can do it online or by mail. Once your DBA is authorized, you may use it to open a business bank account, start accepting payments under the name of your company, and build your brand.
In conclusion, registering a trading name may not be necessary, but it can offer your company a number of advantages and protections. There are still ways to safeguard your trading name if you are strapped for cash, such as by employing the TM symbol and keeping an eye on its usage. If you intend to operate your business in Hawaii under a name other than your own, you must register a DBA, which is the same as a trade name.
You must submit Articles of Amendment to the Hawaii Department of Commerce and Consumer Affairs Business Registration Division if you want to change the name of your company there. There is a filing fee and the form can be submitted either online or by mail. Additionally, getting a new business license with your revised name is advised. You should also change the name of your company on any contracts, legal papers, and promotional materials.