One of the most important choices you must make when forming a professional limited liability corporation (PLLC) is deciding on a name. The name of your PLLC serves as the cornerstone of your brand and will be crucial in luring in customers, keeping them loyal, establishing your company’s legitimacy, and setting you apart from rivals. Here are some pointers and directives to take into account when naming a PLLC:
Checking the state’s naming regulations is the first step in naming a PLLC. Regarding the naming of PLLCs, each state has its unique regulations. A PLLC’s name must generally begin with “PLLC,” “Professional Limited Liability Company,” or another acronym. The name must be distinct from those of any other entities that have been registered with the state. To make sure your name complies with the naming rules, check the website for the secretary of state in your state.
Your PLLC should have a distinctive and memorable name. It ought to be noticeable and simple to recall. A generic or common name that could be mistaken for another company should be avoided. Use a name that accurately describes your specialty or the services you offer. If it is acceptable, you may also use a name that is unique to you, like your last name or initials. 3. Use a trademark search engine
Perform a trademark search before settling on the name for your PLLC to make sure no other company is already using it. You can steer clear of future legal problems by doing this. On the website of the United States Patent and Trademark Office, you can search for trademarks.
Which is preferable in this case, an LLC or a single proprietorship? Depending on your company’s needs, you should choose an LLC over a sole proprietorship. The simplest and most cheap business structure is a sole proprietorship. It doesn’t need to be registered, and you have total authority over the company. However, any debts or legal problems that develop are your personal responsibility. By isolating your personal assets from your business assets, an LLC provides liability protection. Additionally, it offers a more official framework, which makes it simpler to acquire funding and draw in investors. Registration and further documents are needed, though.
You must submit a Certificate of Assumed Name to the Secretary of State in South Carolina if you want to add a “doing business as” (DBA) name to an LLC. The form can be submitted electronically or via mail. The names of your LLC and intended DBA, as well as a brief description of your company, must be provided. The Certificate of Assumed Name must be filed and renewed every five years; there is a charge associated with this process.
An annual report is a document submitted to the state that contains details on the operations and finances of an LLC. The name, address, registered agent, and members’ names and addresses are normally included in the report. Additionally, it offers details on the LLC’s commercial endeavors, including its revenue and the kinds of goods and services it offers. On the anniversary of the LLC’s founding or registration, the annual report is required.
When a new business is founded or registered, a document called an initial report filing is submitted to the state. The report gives the company’s name, address, and registered agent, among other essential details. It is normally payable between a few weeks and a few months after the business is formed or registered. The initial report’s goal is to make sure the state gets correct and current information on the company. Penalties including the cancellation of the company’s registration may be imposed for failure to submit the initial report.