It can be difficult to tell the difference between the legal name and the trade name when starting a business. The trade name is the name that the business uses in its marketing and branding efforts, whereas the legal name is the name that the business uses in its formal correspondence. We will examine the distinctions between these two names and how they affect your business in this article.
The registered name of a business is used for administrative and legal purposes as its legal name. All legal documents, including the articles of incorporation, company permits, and tax registrations, bear this name. The business utilizes its legal name when opening bank accounts, signing contracts, and filing taxes. What is a trade name, exactly?
The name that a company uses to identify itself to the public is referred to as a trade name, also known as a DBA (doing business as) name. The name is what is printed on the shop, website, and promotional items. The trade name is frequently used to establish a brand identity and set the company apart from its rivals. What Do You Mean by Registered Trade Name?
A name that has been registered with the state or local government is known as a registered trade name. A firm can use a name other than its legal name for marketing and branding purposes by registering a trade name. Additionally, it makes sure that no other company operating in the same sector is already using the trade name.
Although it’s not necessary, a business and an LLC can share the same name. The trade name is the name that the LLC uses for marketing and branding purposes, whereas the legal name is the name that is registered with the state. The LLC is required to register the trade name with the state if the business and LLC have different names. How Can I See If a Business Name Is Already Taken in Ohio?
You can perform an online search on the Ohio Secretary of State to see if a business name is already taken in Ohio. You can use the website to look up company names that are currently listed as being registered in the state. You will need to choose an alternative name for your company if the one you like is already used. In Ohio, is it possible to use more than one trade name?
In Ohio, a company is permitted to use multiple trade names. Each trade name, however, needs to be registered with the state. By registering numerous trade names, a company can establish distinct brands for the many goods and services it provides.
In conclusion, it is crucial for any business owner to comprehend the distinction between a legal name and a commercial name. The trade name is used for marketing and branding whereas the legal name is the business’s true identity. A company can market under a name other than its legal name by registering a trade name with the state. Before registering a new trade name, it is crucial to confirm that the desired business name is not already in use. A company may use many trade names, but each one needs to be registered with the state.
The actions below must be taken in order to register a sole proprietorship in Ohio: 1. Pick a name for your company and confirm that it is available for usage.
2. File a business name registration with the Secretary of State’s office in Ohio. 3. Submit an application for any necessary licenses or permits to state and municipal authorities.
4. If you intend to hire staff members or open a company bank account, you must obtain an Employer Identification Number (EIN) from the IRS. 5. Obtain any required tax identification numbers and register with the Ohio Department of Taxation. 6. Comply with any other federal, state, or municipal regulations, including those pertaining to registering for workers’ compensation insurance or acquiring a vendor’s license.
It is crucial to remember that registering a sole proprietorship does not establish the owner as a separate legal entity; as a result, the owner is personally responsible for the debts and responsibilities of the company.
A company would typically first register its LLC (Limited Liability Company) with the state where they are doing business. The business can then submit an application for a trademark for its trade name after the LLC has been registered. It is crucial to remember that creating an LLC does not automatically grant a company the right to only utilize its trade name. Therefore, it is advised to submit a trademark application as well in order to safeguard the company’s brand identification.