Is Fictitious Name Same as Trade Name?

Businesses frequently promote their goods and services under various identities. People who interchangeably use phrases like “fictitious name,” “trade name,” and “DBA” cause confusion. The truth is that these terminology’ applications and meanings vary. The distinction between a DBA and a trade name, the purpose of a fictitious name, whether a business name and a trade name can be the same, and whether trade names expire in Ohio are all covered in this article.

A company that conducts business under a name other than its legal name is referred to as “doing business as,” or “DBA,” in law. It is sometimes referred to as a trade name or fictional name. On the other hand, a trade name is the firm’s legal name that it employs when doing business. To put it simply, a DBA is the name a corporation uses to identify its commercial activity, whereas a trade name is the name it uses to identify itself.

Businesses utilize fictitious names to promote their goods or services under a different name than their official one. For instance, a solitary entrepreneur may opt to employ a fake name in order to appear to be a larger business. A fictional name could also be employed to advertise a commodity or service that differs from what the business typically provides. To avoid fraud or confusion, firms must register their fictitious names with the right authorities.

A company name and a trade name may indeed be the same. In order to minimize confusion, companies are actually urged to use a trade name that is similar to their legal name. XYZ Corporation, for instance, could be a company’s trade name if its legal name is XYZ Inc. Customers will be able to recognize the business without any difficulty in this method. Trade names in Ohio expire, right?

In Ohio, trade names don’t expire. To make sure they are still in use and the company is still operating, firms must renew their trade names every five years. A trade name may be forfeited or become available for use by another company if it is not renewed.

Finally, despite their frequent use as synonyms, trade names and fictitious names are not the same. A trade name is the formal name a business uses to identify itself, but a fictitious name is a name a firm uses to promote its goods or services under a name that differs from its legal name. Trade names do not expire in Ohio, but they do need to be renewed every five years. A business name and a trade name may be the same.