Sole Traders and Trading Names: What You Need to Know

Can a sole trader use a trading name?

You can trade under your own name, or you can choose another name for your business. You do not need to register your name. You must include your name and business name (if you have one) on official paperwork, for example invoices and letters.

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As a lone proprietor, you might think about giving your company a trading name. A business may use a different name than its legal name, which is the one that is registered with the government, as its trading name. Utilizing a trading name can help your company stand out, establish a more enduring brand, and facilitate customer discovery. Can a lone proprietor use a trading name, though? Yes, a solo proprietor can use a trading name.

However, if you choose to utilize a trading name, there are some crucial considerations to make. First, you must confirm that another company is not already using the name you intend to use. To keep your consumers out of legal trouble and from becoming confused, this is crucial. By conducting a search on the Ohio Secretary of State’s website, you can determine whether a name is already in use for a business. If the name has already been registered by another company in Ohio, our search will let you know.

You may use the name as your trading name if it is accessible. The use of a trading name does not, however, grant you any legal protection over that name, thus it is crucial to remember this. This implies that you would have no legal recourse to prevent another company from using the same name. You might want to think about filing your company name as a trademark in order to protect it.

If a sole proprietorship in Ohio wants to conduct business under a name other than the owner’s legal name, they can do so by using a trade name, sometimes referred to as a DBA (Doing Business As). It’s crucial to understand that registering a DBA does not establish a new legal organization. All of the debts and liabilities of a sole proprietorship are personally liable for the owner.

Trade names are perpetual, but they might need to be renewed on occasion. Every five years, DBAs in Ohio need to be renewed. Depending on the jurisdiction, Ohio’s DBA filing fees normally range from $50 to $125.

In conclusion, sole proprietors are permitted to choose a trading name for their company, but it’s crucial to confirm that no other company is already using the name. Although registering a DBA can be beneficial, it does not give the name any legal protection. Trade names are perpetual, but they might need to be renewed on occasion. It is advised to seek legal advice if you have any queries or worries about using a trading name for your company.

FAQ

What is trade name on SBA loan application?

A trade name is the name used by the business to conduct operations or conduct business, which may differ from the legal name of the company. The phrase “doing business as” (DBA) is another moniker for it. When completing loan applications or other documentation, the SBA could insist that you use a trading name.

Moreover, how do i trademark a name for free?

Unfortunately, there is no free way to trademark a name. Payment of specific fees to the applicable trademark office is necessary for the procedure of trademark registration. But if you run a sole proprietorship or a small firm, you can be qualified for lower fees or other forms of support during the trademark registration procedure. To help you through the process and make sure your trademark is registered properly, it is advised that you speak with a trademark attorney or specialist.