A company must first acquire a certificate of existence before it may register its name with the state of Alabama. This document, also referred to as a certificate of good standing, attests to the company’s legal position with the state. It verifies that the company has submitted all required paperwork, paid all fees, and is current on its state taxes.
Many business-related actions, like getting a loan, opening a bank account, or signing contracts, call for a certificate of existence. Businesses in Alabama must make a request to the Secretary of State’s office and pay a fee in order to get a certificate of existence.
A business can move forward with reserving a name for its business after obtaining a certificate of existence. A name reserve prevents competing businesses from utilizing a certain business name while the owner is getting ready to register it with the state.
In Alabama, how much does a name reservation cost?
It’s important to remember that reserving a name doesn’t ensure that it will be open for registration. The reservation just enables the company’s owner to temporarily hold the name until they get ready to register it. How long is a name reservation good for?
In conclusion, it is critical for business owners who wish to safeguard their brand to comprehend the legality of name reservations in Alabama. Business owners can make sure their preferred name is available and can be registered with the state by acquiring a certificate of existence and reserving it. It’s important to remember that a name reservation in Alabama costs $28 and lasts for 120 days.
You must submit an application to the Alabama Secretary of State’s office to reserve a business name there. There is a charge associated with the application, which can also be submitted by mail or online. You have 120 days to file your business formation paperwork with the state before the name reservation expires. It’s crucial to remember that reserving a name does not ensure that your business creation will be approved.