You could be considering renaming your LLC after yourself if you have plans to launch a business. Although it could seem like a fantastic idea, there are certain benefits and drawbacks to take into account. One benefit is that it can aid in building a personal brand and make it simpler for clients to recall your company name. On the other hand, it can restrict the company’s potential to grow and make it challenging to eventually sell or transfer ownership. Your long-term business objectives should ultimately guide your choice of a name for your LLC. Speaking about LLCs, it’s critical to comprehend the distinctions between a DBA and an LLC. An LLC is a legal entity that segregates personal and company assets, whereas a DBA is just a trade name under which a firm works. LLCs give owners liability protection and could also be tax advantageous. They need more documentation and continuous upkeep than a DBA, though.
Who will act as the registered agent is an additional issue to take into account when founding a firm. The person or organization in charge of receiving legal paperwork on behalf of the company is known as the registered agent. Being a registered agent has various hazards even if it could appear like a straightforward job. Legal repercussions for the company could occur if legal documents are not handled correctly. Additionally, having a physical address that is open during regular business hours is a requirement for registered agents, which may not be appropriate for all people or companies.
In conclusion, Missouri has a relatively inexpensive DBA registration fee when compared to other states. It’s crucial to realize that a DBA does not establish a separate legal organization or offer legal protection for the business name. When beginning a business, it’s crucial to carefully weigh the advantages and disadvantages of naming your LLC after yourself, the distinctions between an LLC and a DBA, and the dangers associated with acting as a registered agent. You can then make decisions that will position your company for success.
In Missouri, a registered agent might indeed also be the company’s owner. In reality, many business owners decide to operate as their own registered agent in order to save money and keep control over crucial legal notifications and papers. The registered agent must, however, have a Missouri physical location and be accessible throughout regular business hours to receive formal correspondence on the company’s behalf.