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Business name change

Type of Business	Action Required
Sole Proprietorship	Write to us at the address where you filed your return, informing the Internal Revenue Service (IRS) of the name change. The notification must be signed by the business owner or authorized representative.
Corporation	If you are filing a current year return, mark the appropriate name change box of the Form 1120 type you are using: If you have already filed your return for the current year, write to us at the address where you filed your return to inform us of the name change. In addition:
Partnership	If you are filing a current year Form 1065, mark the appropriate name change box on the form: Page 1, Line G, Box 3. If you have already filed your return for the current year, write to us at the address where you filed your return to inform us of the name change. In addition:

Individuals topics

How to Transfer a Business Name

Small Business
Running a Business
Business Names
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The name of a business can be one of the greatest assets a company can own. The business name serves as a symbol of service, expertise, customer goodwill and a distinctive company identity. If you sell or transfer your business ownership to someone else, you will need to transfer ownership of your business name as well. While you have the option of selling a business and retaining ownership of the business name, if you decide to transfer the business name, there are a few things you’ll need to consider.

Obtain a transfer of business name form from your state's office of the secretary of state. You may be able to log on to the office's website and download or print a form directly from the site.

Find out how much the transfer/registration fee will be. If you don’t find it online, you will need to call the secretary of state's office directly.

Complete the business name transfer form by listing the business name to be transferred and the name and contact information of the current business name owner. Then list the same information for the individual or individuals you will be transferring the business name to.

Sign and date the form, and include your current business title or position. Depending upon the requirements of your secretary of state's office, you may need to have the form notarized or signed by the party the business name is transferring to.

Mail your completed form and payment to the secretary of state's office. Most offices will require payment by business or personal check. However, many offices will accept a credit card on the form, or cash payment if you bring your form to the office.

FindLaw: Sample Document: Filing for Transfer of Trademarked Business Name
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Make sure all of the contact information is entered correctly on the business name transfer form. Confirmation of the name transfer registration will be mailed to the two parties listed on the form.

Malik Sharrieff is a marketing and business communications professional in New Orleans. He has more than 15 years of experience in marketing, public relations and customer relationship management; over eight years of experience as an academic writer; and as an online journalist for two years.

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What is a Fictitious Business Name (DBA) and Why Do You Need One?

As a business owner, choosing the right company name is one of the most important items on your to-do list when you launch a new business. It’s right up there with opening a business bank account, setting up a company website, and establishing business credit .

When you use a company name that doesn’t match the legal name on your tax returns, you’re using what’s known as an assumed business name or DBA. Read on to learn more about how assumed business names work, the purposes they serve, and why you may need to give your state a heads up if you use one.

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What is a Fictitious Business Name?

A fictitious business name (FBN) is any name your business uses to operate other than your legal name. In some states, you must file for an assumed name certificate if your company does business under anything other than its legal name (or owner’s name(s) in the case of a sole proprietorship or partnership). Law offices and construction/remodeling companies often use legal names (i.e. Johnson & Sons, Waller and Waller Associates).

What is a DBA?

Depending on your state, an assumed name certificate may also be referred to as a DBA (doing business as) registration or a fictitious name filing. While the terms all sound different, they describe the same process.

Does your business use a name that doesn’t match the one you use when you file your tax returns? If so, you might need to file for an assumed business name certificate.

The application process for an assumed business name certificate varies from state to state. Some states allow you to file online. In other states, filing for an assumed name certificate is as simple as visiting your county clerk’s office, filling out a registration form, and paying a fee. (Call or research in advance in case the clerk’s office has any special requirements, like paying with a money order or cashier’s check.) Other states may require you to place an ad in your local newspaper to disclose your DBA name to the public.

Wondering if your state requires you to file for an assumed name certificate? Contact your Secretary of State’s office. You can learn if DBA registration is necessary in your state and, if it is, which department you need to reach out to in order to get your fictitious name certificate.

Why Do Businesses Use An ABN or DBA?

A small business might choose to use a fictitious name for several reasons. Below are a few common ways an assumed business name could benefit your business.

A fictitious name filing could help you comply with state law if you use something other than your legal name when you engage in business.
Sole proprietors and partnerships may opt to use an assumed business name if they don’t want to use their personal names (or some variation thereof) when dealing with the public.
If your legal business name is long, tough to pronounce, or difficult to use from an advertisement perspective, a fictitious business name might be a good solution.
Businesses that sell multiple products or services, especially to different customer bases, might want to operate under more than one business name.
A fictitious business name could help your company rebrand or try to reach a new audience.
If your company already uses a DBA, a bank might require proof that you registered the assumed business name to open an account or accept payments under that name.

You’re also probably wondering if your ABN or DBA can be used to build business credit and obtain business credit cards . The short answer is yes. Many states allow businesses that have a registration of a fictitious name to apply under that name for business credit. However, it’s important to check with your state department to figure out what that process would look like for you and your business.

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Can an LLC Have a Fictitious Name?

Fictitious business names aren’t limited to sole proprietorships and partnerships. A limited liability company (LLC) or corporation may use a DBA as well, as long as it follows the rules.

Tip: Using a DBA might affect your business credit. You should keep a close eye on your business credit reports and scores often, especially if you make a switch and start using a new fictitious name.

How Long Is a Fictitious Business Name Valid?

If your state requires you to file for an assumed business name certificate, it may not last forever. Your registration is probably only good for a certain period of time.

Exactly how long your fictitious name registration lasts depends on the state where your business is located. Five years or less is a common timeframe. Re-registration requirements and filing fees for fictitious name renewals vary by state as well.

If your state requires you to re-register, don’t wait until the last minute to fill out a new assumed name form and pay the filing fee. It’s best to start the renewal process before your current fictitious name filing expires.

Is An ABN or DBA Necessary For Liability Protection?

An assumed business name could potentially solve certain problems for your business. Yet there are limitations you should understand.

An assumed business name typically won’t protect you from personal liability if someone decides to sue your business. If you want to shield your personal assets, you should consider forming an official business entity like a corporation or LLC. (Talk to your attorney for advice.)
A DBA won’t directly impact how you pay taxes to the IRS or your state. Are you looking for the best way to set up your business from a tax perspective? Do you want to avoid the dreaded self employment tax ? In either case, you should consider options like LLC vs. corporation or C Corp vs S Corp. (Talk to your tax professional for advice.)
A fictitious name filing won’t protect the name of your brand. Unlike an official legal name filing, an assumed business name probably won’t stop a competitor in your state from using a name that’s close to yours. In many states, multiple companies may be allowed to file for similar or even identical fictitious names. If you want to protect your business’ name from competition in your state, a new business registration may be in order. Take it a step further and consider filing for state and federal trademarks if you want to protect your brand name at a higher level.

Final Word: Fictitious/Assumed Business Name

If your business is going to use any name other than its legal one, it’s critical to find out whether state law requires you to complete a fictitious name filing. Skipping this step could result in serious consequences, like civil or criminal fines and personal liability for business contracts. Remember that Nav provides resources to ensure your business has all the necessary information. We’ll help you register your business with the Department of State, check your business credit scores , and even find your best small business loan options.

Not sure whether you should file for an assumed business name or register for a new, separate business entity with your state? Talk to a trustworthy business attorney for legal advice on your personal situation.

This article was originally written on January 29, 2020 and updated on July 18, 2022.

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Imani Bashir

Imani Bashir is a Digital Marketing Copywriter at Nav. As a small business owner who is also a Nav user, her greatest goal is to create the best user-friendly information that other Nav users can benefit from and implement to cultivate their businesses success.

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How to Legally Register for Your Business Name

Briana Morgaine

9 min. read

Updated October 25, 2023

When I was a child, my family and the other families in our neighborhood held annual summer garage sales. It was a great way to get the community to work together, and of course weed out a little of the inevitable clutter.

For every yard sale, I’d buy bottled lemonade, bake several batches of cookies and brownies, and set up shop. A few minutes consideration, half a day’s preparation, and I was set to go. My business was in full swing.

Unfortunately, to set up a business larger than your local lemonade stand, you’ll have to do significantly more legwork. When it comes to starting your business, you can’t do what I did when I was eight and just hit the ground running. You’ll need to register your business name, and decide what method of doing so is best suited for your specific business needs.

When it comes to registering your business name, you have several options, which you can take advantage of together or separately.

The options for registering your business name include:
Registering your business structure, and simply operating under that name
Filing for a DBA
Trademarking your business name

Read on to learn the ins and outs of each option, and determine which one is right for your business. I’ll go over the different requirements for registering the most common business structures, what a DBA is and how to know if you should file for one, and whether or not a trademark is right for your business.

1. Register your business structure

Potentially the most straightforward way to register your business name is to register your business structure at the state level. This will ensure that your business name is officially “yours” and that you can do business using that name.

To register your business name this way, you’ll need to register your business structure, such as a limited liability company (LLC) or a limited partnership (LP), a corporation, or a nonprofit. The steps for each type of registration are similar, but they do have slight differences, and will also differ by state.

Registering your LLC or LP:

The rules governing LLCs and LPs will vary state to state, so be sure to check your specific state regulations. However, you’ll generally have to complete the following steps:

1. Choose a name for your business that complies with your state’s rules. When registering an LLC, for example, your business name must include a term such as “L.L.C.,” “limited company,” or similar in the title. 2. File paperwork and pay fees. This generally includes writing what is called your “articles of organization,” which describes your business’s purpose, and your operating agreement. While an operating agreement isn’t required in all states, it’s always a good idea. Having one allows your business the opportunity to protect itself, and ensure that it is governed by its own rules (such as ownership percentages and management structure), as opposed to defaulting to the general rules set down by your state. 3. Publish a notice of intent. Some states require a notice of intent to form an LLC, but not all states will. Check your state regulations to find out if this step is necessary. 4. Acquire all necessary permits and licenses. Make sure you’ve gotten all the necessary permits and licenses required to run your business.

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Registering your nonprofit:

As with an LLC or LP, the rules governing starting a nonprofit vary state to state, so be sure to check with your local secretary of state’s website for more detailed information. Or, when you’re finished reading, check out this guide which breaks down nonprofit resources by state.

1. File your articles of incorporation. These include basic information about your nonprofit —your name, what you do, where you plan to do business, and so on—and will usually be filed with your secretary of state website. 2. Apply for tax exempt status with the IRS. This can take some time—up to 12 months—so make sure to do this in a timely fashion. The application can be found on the IRS website. 3. Register with the specific states you plan to fundraise in. While the necessity of this registration will vary depending on your nonprofit, it can be especially tricky if you plan to do any fundraising via internet platforms, so make sure you take this one seriously. Go here for more information on how to register.

Registering your corporation:

As with LLCs, LPs, and nonprofits, forming a corporation involves several steps and a certain amount of paperwork, all of which will—you guessed it—vary state to state.

1. Choose a name that complies with your state’s regulations. As with an LLC, there are designations, such as including “Corp.,” “Corporation,” or similar in the title. And, naturally, it cannot be a name already in use by another business. Check with your local secretary of state’s office website for more information and state-specific regulations. 2. Decide on your board of directors. Depending on the state, you may be required to have multiple, or you may be allowed just one. Note that owners can be directors, but the directors do not necessarily have to be owners of the company. 3. File your articles of incorporation. As with a nonprofit, you’ll have to file your articles of incorporation. These include basics about your business, such as name, primary place that you plan to do business, and so on. There will also be a filing fee, which usually ranges from $100 to $800.

At this point, your corporation is registered. You’ll still need to establish bylaws, hold a meeting with your board of directors, issue shares, and obtain any permits or further registration you need to do business. For more information, read our complete guide to starting a corporation.

2. File a DBA (or “doing business as”)

If you have established your business structure at the state level, as we discussed above, you can legally do business under the name you registered with your secretary of state’s office.

But what if it doesn’t have the right ring to it?

We’ll use an example:

Kat is opening a boutique-style clothing store where she will be reselling vintage pieces. She registered her business as an LLC, and has registered the name, “Kat’s Vintage Resale, LLC.”

The trouble is, that pesky “LLC” doesn’t really fit her store’s branding, and she’d rather just do business under the name, “Kat’s Vintage Resale.” However, if all she does is register her business as an LLC, she is required to use the registered name in full. What should she do?

When to use a DBA:

In this situation, a business owner can apply for a DBA name, which stands for “doing business as.” Sometimes also referred to as a “fictitious name,” a DBA allows a business owner more freedom over what they call their business; as we saw in the example of Kat, a business owner can get a DBA in order to avoid doing business under their state registered name.

It’s also helpful for sole proprietors who do not wish to use their full name as the name for their business. For example, gardner Lance West is starting a landscaping business, but he doesn’t want to do business under the name, “Lance West,” but rather, “Landscaping by Lance.” He applies for a DBA, so that he can choose to use “Landscaping by Lance” as his business name, rather than his own full name, as would otherwise be required for a sole proprietorship.

How to apply for a DBA:

Applying for a DBA can be done through your secretary of state’s office website, or in some cases through your local county clerk’s office. The rules vary state to state, so make sure you find information specific to where you live.

In Oregon, for example, it is done via the Oregon Secretary of State website. Start with your secretary of state site, and go from there, as each state will vary slightly.

3. Trademark your business

Finally, trademarking your business is another way to register your business name. You can register for both a state trademark and a national trademark, though it should be noted that it costs more and takes longer to trademark your business on a national level. The United States Patent and Trademark Office has information on both how to trademark your business at the state level as well as at the national level, which involves getting a federal trademark.

What’s the difference between a trade name and a trademark?

Your DBA will sometimes be referred to as your trade name; after all, it’s the name you established to do business (or “trade”) under. However, it’s not to be confused with a trademark, which is only valid if registered via the USPTO.

A trademark can also include colors, symbols, logos, and slogans, which are outside the realm of what is covered by a DBA. If you wish to protect not only your name, but also your visual elements related to your business and branding, you might consider a trademark.

Note, however, that registering a trademark comes with a price, literally: online trademark registration can cost between $200 and $300, so it’s significantly pricier than simply setting up a DBA, which will generally run you under $100.

Additionally, it’s harder to trademark any names that are fairly generic sounding—so in our example above, “Kat’s Vintage Resale” might be out of luck. However, if she were to pay a graphic designer to create a logo that included her name, unique color scheme, tagline, and other branding, she might be able to trademark that in its entirety, where the name alone would not be enough to trademark.

Which one is right for you?

As you can see, the various ways you can register your business name will depend on your business situation.

If you are in the process of setting up a particular business structure, you may end up registering a business name by default that you wish to stick with. Depending on the context, keeping the distinction of “LLC.,” “Corporation,” and so on in your business name may not be a negative at all.

A DBA is a good route if you are a sole proprietor and don’t wish to do business under your full name, or if you’d rather not use the name you picked when setting up your business structure.

And, if you want to protect your business’s intellectual property on a state or national level, a trademark might be the way to go. Remember, however, that in order to trademark your business name, it must include elements unique enough to be worthy of a trademark in the first place, so not all businesses will meet that criteria.

Keep in mind that aside from legally registering your name, you may also need to explore if a web domain is available for it as well. Check out the BusinessNameZone business name generator to research business names and check availability at the same time. This can save you the effort of looking to legally register only to realize that it’s not available through digital channels.

Bri Morgaine is a seasoned content marketing leader with a decade of experience in copy editing, social media operations, and content strategy— having honed her skills at industry giants like Palo Alto Software and Andreessen Horowitz.

Table of Contents

2. File a DBA (or “doing business as”)

How to obtain business permits and licenses

6 Min. Read

How and Where to Obtain Business Licenses and Permits

Why you should register for a DBA (Doing Business As)

3 Min. Read

3 Reasons Why You Shouldn’t Wait to Register for a DBA

Legal requirements for UK-based businesses

17 Min. Read

The Legal Requirements to Start a Small Business in the UK Explained

4 Min. Read

How to Create a Business Partnership Agreement

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Overview of business name assignment agreement, march 30, 2017, what is this document.

A Business Name Assignment Agreement is a legal document where one party assigns, or transfers, their business name or trademark to another party.

When would I use this document?

A Business Name Assignment Agreement would be used when one party is selling its business to another party, or a party is taking over another party’s business.

Who signs this document?

A Business Name Assignment Agreement is signed by the party assigning the business name (the assignor ), and the party who the business name is being transferred to (the assignee ).

What are the core elements of this document?

The core elements of a Business Name Assignment Agreement include: Transfer of Rights; License to Rights; and Release.Additional clauses could include: Payment; Entire Agreement; and Governing Law.

IRS Name Changes for Businesses in Just a Few Steps

IRS Name Changes for Individuals & Businesses (1440 x 600 px)

Written by TurboTaxBlogTeam

Published Jun 26, 2024 - [Updated Jul 2, 2024]

When you file taxes, the name on your tax return has to match your Social Security number (SSN) or employer identification number (EIN). The IRS checks this information to verify your identity. If you’re considering changing your name or the name of your business, you have to follow the correct procedure to ensure your registered name will match the name on your tax return. Read below to find out how you can properly submit a name change ahead of tax season.

Irs name changes for businesses.

When you file your business taxes , the IRS uses your EIN and business name to identify your business. If you decide to change your business name, an authorized individual will need to submit a name change. An authorized individual is someone who has legal authority to act on behalf of the business. We will provide more details about this process below.

When a business should file an IRS name change

There are lots of reasons you might consider an IRS business name change. One reason for a name change is to rebrand your business to align your brand identity with new goals, new products and/or services, or new target audiences. Your name can play a key role in growing your business — and a bad name can limit growth. If your business name doesn’t stand out or stick in the minds of customers or is outdated, it may be time to change it.

Another reason a business may change names is due to legal issues. If you received a letter from another company demanding that you change your name, it may be a good time to file for an IRS business name change. If you do have to change your business name due to legal issues, make sure your new name isn’t already being used by another organization. You can search the database provided by the US Patent and Trademark Office . Consult an intellectual property attorney if you have any additional questions.

Other common reasons for business name changes are mergers or acquisitions, an attempt to improve market perception, or simply for personal reasons.

Business partners having a discussion and reviewing a document.

Do you have to notify the IRS if you change your business name?

Notifying the IRS is an essential step when you change your business name. The IRS matches your registered business name to the name on your tax return, so you may have trouble filing the return if the names don’t match. The IRS may not be able to process your tax return, or processing may be delayed. Failing to process your tax return in a timely manner may lead to legal and compliance issues.

When you send a written notification to the IRS for a business name change, make sure it’s signed by an authorized representative. For sole proprietorships, this would be the business owner or authorized representative. For a partnership, this would be a partner. For corporations, this would be a corporate officer. You have to mail your business name change request to the mailing address in which you would have to send your tax return.

If you’re filing as a corporation or a partnership, you can check the appropriate box on Form 1120, 1120-S, or 1065 to let the IRS know you’re changing your business name. If you report the name change on the tax return, you don’t have to worry about sending any further notifications. The tax returns with the relative boxes are as follows:

Form 1120 (Page 1, Line E, Box 3)
Form 1120-S (Page 1, Line H, Box 2)
Form 1065 (Page 1, Line G, Box 3)

If you have already filed your tax return for your business, then you can also notify the IRS of a name change via mail.

Will you need to apply for a new EIN?

Generally, you do not need to apply for a new EIN when you change your business name. However, it may be required and is dependent upon the circumstances as well as the type of business.

As a sole proprietor, you don’t need to apply for a new EIN if you change the name of your business. As long as you notify the IRS, you can file your taxes with your new business name. However, if you incorporate or take in partners to operate as a partnership, you will be required to obtain a new EIN.

Corporations don’t typically have to apply for a new EIN after changing names unless the corporation changes its entity classification into a partnership or a sole proprietorship.

Partnerships also aren’t required to obtain a new EIN for name changes in most cases. However, you will need to apply for a new EIN if you incorporate or if one partner takes over and becomes a sole proprietorship

If you do need a new EIN for any of the above reasons, you can easily apply for one with the IRS online application . If eligible, you will immediately receive your new EIN.

SSA name change for individuals

When you file your personal taxes, the name on your tax return also must match the name the Social Security Administration (SSA) has on file for you. If you recently changed your name or are considering a name change, read below for what you need to know.

When you’ll need to file a SSA name change

As an individual, there are a few scenarios where you might need to change your name. While many name changes are due to a marriage or a divorce, other individuals change their name for personal reasons.

Regardless of the reason you are changing your name, you need to file a name change with the Social Security Administration. All the names on a tax return, including any dependents you may have, must match the Social Security Administration records. If there is a name mismatch, it can prevent you from electronically filing your return and can also delay the processing of your return.

In certain states, you can use my Social Security account to change your name online. If you are not a resident of one of the select states, you can start your application online . You also have the option to fill out the SS-5 application and go to your local SSA office to speak with a SSA representative directly. Whichever way you use to change your name with SSA, your new card will usually arrive within 14 days via mail.

Once you notify the SSA of your name change, there is no further action that you have to take with the IRS.

Will you need to apply for a new Social Security number (SSN)?

You don’t need to apply for a new Social Security number when you change your name, In fact, the Social Security Administration only allows you to change your social security number in very limited circumstances, such as identity theft or if you are in danger.

What if you need to change your address, too?

If you recently changed your address, you need to notify the IRS. The process varies depending on the time of year you make this change.

If you changed your address right before filing your tax return, simply use your new address on your tax return, and the IRS will update its records automatically.

You can also complete Form 8822 to change your address with the IRS. Alternatively, you can notify the IRS in writing to the mailing address specified on the IRS website . Make sure to include your:

Old and new addresses
SSN, EIN, or taxpayer identification number (TIN)

If you don’t want to notify the IRS via mail, you can call them to let them know you’re changing your address. In order to change your address by phone, your identity will need to be verified.

Does an IRS name change cost money?

It doesn’t cost you anything to notify the IRS of your name or address change. However, when you decide you want to change your business name or your name as an individual, you will likely incur court and filing fees assessed by your resident state.

No matter what moves you made last year, TurboTax will make them count on your taxes. Whether you want to do your taxes yourself or have a TurboTax expert file for you, we’ll make sure you get every dollar you deserve and your biggest possible refund – guaranteed.

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How to Name a Business: 7 Keys to Pick the Perfect Moniker

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Deciding what to call your business is a fun and exciting part of starting a business . But the process can also be a hard stop for business owners struggling to find the perfect balance of wit, relevance and personality.

Some people are lucky to have a name from the beginning that they're excited about, says Evan Horowitz, a small business growth expert. "But often times it can be paralyzing."

It doesn’t have to be. When deciding how to name your business, the key is to find a name that fits who you are and what your business is about. Obviously, you want a name that stands out — one that’s catchy, even quirky (Hi, Google.). But it's important to have a story and a clear message behind your small business name, says Ivana Taylor, CEO of Cleveland marketing company Third Force and founder of DIYMarketers .

LLC Formation

"Before you select a name for your business, before you run out and get business cards, before you spend a single cent or a single minute on any kind of advertising or promotional effort, invest your time and effort in crafting a killer marketing message," she says.

How to name a business: 7 keys to remember

Taylor, whose company gives marketing advice to small businesses, offers these tips for coming up with a company name:

Make it short. "Remember, your domain will also be used for social media profiles, so shorter is better," she says.

Make it memorable. "We don’t just type anymore, so make your name easy to remember," Taylor says. "Also, if you have the kind of business that you’ll be promoting via video or radio, you’ll want to be able to say it and have people remember it."

Make it pronounceable. This is just as important as being memorable, Taylor says, "because if people can’t pronounce it, they won’t be able to remember or spell it."

It should be easy to spell a single way. "You don’t want to waste your marketing time and money teaching people how to spell your name. That doesn’t mean that you can't get creative."

It should be “descriptive” or "brandable." Taylor cites her own company name, DIYMarketers, which she said is "so clear, so brandable you don’t need to be a rocket scientist to understand what kind of site this is."

Don’t use hyphens. "Hyphens confuse people and will literally send your potential customers to someone else when they type in your domain without the hyphen," Taylor says.

Go for a .com extension. "I always aim for a domain that has a .com extension as well as an open .net extension,” she says. Not only are these the most common extensions, but often, users "are on autopilot and they enter dot-com," she says. But you can also be creative, Taylor notes, pointing to Visual.ly, a visual content services company that used the extension ".ly."

Make sure you can use it

Just as crucial as a business name idea that fits the personality and goals of your small business is figuring out whether someone else is already using it. Here’s how to go about it.

Start with a basic web search.

When you incorporate your small business, you will need to check the registration process in your state, including the requirements for registering your business name. This process varies by state; the SBA website includes a list of these agencies.

The best way to check availability of the domain name based on your proposed company name is to check the sites of the Internet Corporation for Assigned Names and Numbers, better known as ICANN, which operates the Internet Corporation for Assigned Names, or InterNIC.

You can register your domain name with a domain name registrar. There’s a list of ICANN-accredited domain registrars on the organization’s website.

It’s also smart to create accounts on various social media platforms, including Facebook, Twitter, LinkedIn and Instagram.

A critical step is finding out whether you can legally use a name for your company based on federal trademark laws. For this, the best resource is the U.S. Patent and Trademark Office . Its website includes a step-by-step process of applying for a company trademark if the name you want is available.

This last point is the most important, especially if you want to steer clear of legal headaches. You’ve no doubt heard the horror stories of small businesses that found themselves mired in legal battles with corporate giants over naming rights.

If you find yourself really struggling to pick a name, you may not be stuck with it. Companies change their names all the time, Horowitz says.

On a similar note...

One blue credit card on a flat surface with coins on both sides.

How to Name a Business and Make the Best First Impression

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Create Your Own Store and Start Selling Today

Believe it or not, some of the most iconic brands once went by different names, and it’s hard to imagine these companies becoming as well-known as they are now had they stuck with their original monikers.

In 1996, Larry Page and Sergey Brin called their initial search engine BackRub — named for its analysis of the web’s backlinks, before landing on “Google” by accident. Netflix was founded as a DVD delivery service called Qwikster , but customers and investors disliked the name. In 2018, Weight Watchers rebranded itself as WW in a bid to disassociate from the negative connotations of crash dieting.

Naming a business may seem trivial, but it carries much weight. A great business name should reflect your business’ identity and goals. Changing your business name is cumbersome and costly: you must notify the IRS, apply for a new employer identification number (EIN) and change licenses and permits. Ideally, your business name is forever.

It takes five to seven impressions for people to remember a brand, but it only takes people seven seconds to form an impression of your brand.

Having a memorable, catchy brand name that evokes the correct associations will help it stick — and brand recognition has enormous implications on your bottom line. Here are some strategies for choosing a business name wisely.

Why Your Business Name is Important

Your business name sets the tone for what customers can expect from you. It also determines how easily existing and potential customers can recognize your brand.

It is the first thing customers see.

Your business name shapes your first impression on prospective customers (and investors). It will headline your advertisements and form part of your domain name. As such, it should be search engine-friendly. Choosing a name too similar to a competitor’s or that is hard to pronounce will dent your discoverability online.

Names like ‘Zappos,’ ‘Yahoo,’ and ‘Google’ are catchy but meaningless, so they cost more money to brand. However, intriguing names tend to be more memorable.

It sums up everything about your business.

Ideally, your brand name conveys what products you offer and the general purpose of your brand. Think of the words you would use to describe the product, level of customer service and atmosphere (if you operate physical premises).

For example, Burrow is a furniture company specializing in custom modular sofas. The business name has a double meaning — it implies the furniture items are so comfy you want to burrow into them, but you can also use them to create your own cozy burrow.

It is your unique position in your industry.

A catchy business name differentiates you from the competition. The name should denote trust, authority and expertise within your industry. Don’t pick a name that could be limiting as your business grows.

For example, Apple dropped part of its original moniker (Apple Computers) to reflect their diversified product offerings as the business grew., while Amazon ditched its initial trade name “Cadabra” after it was misheard as “cadaver.”

Types of Business Names

Entrepreneurs generally take one of five approaches to name their company. Your ideal approach depends on your brand identity, industry and target audience.

Descriptive names.

Descriptive names specify the product or service and are ideal for positioning a brand clearly. While these names tend to be functional and utilitarian, they are less susceptible to misinterpretation.

While it may be difficult to convey storytelling and personality with a descriptive name, businesses entering a new market can benefit from it. However, note that it can be difficult to trademark businesses with names containing real words.

Suggestive names.

Emotive brand names evoke specific feelings that arise when a customer uses your product or service. Suggestive names use connotations (the idea or feeling that a world invokes) to convey the brand experience.

Creative business names are great for companies that stand for more than just the products or services they offer. Let’s say you run an independent bookstore and you want to build a community of Indie writers. Choose a name that evokes your brand aspirations, even if you’re not quite there yet.

Suggestive names are generally easier to trademark than descriptive names because of their originality.

Arbitrary names.

Many made-up brand names come from Latin, Greek or other foreign root words modified to embody the brand’s personality. They are fun and memorable names that have no direct reference to a company’s actual operations, but with enough repetition, customers will learn to associate the name with a specific product.

Acronyms/initialisms.

Acronyms tend to be used to shorten excessively long names that would otherwise be difficult for customers to recall, such as BMW (short for Berlin Motor Works). However, acronyms lack meaning, emotion and imagery.

They are hard for audiences to remember and even harder to trademark. However, some of the world’s biggest brands are acronyms containing an unrelated series of uppercase letters.

Businesses usually use acronyms out of necessity — a merger or change that forces the business to change its name but it wants to preserve its heritage — but it’s not recommended for an ecommerce business.

Names based on other languages.

Some businesses use words from other languages and piggyback on their connotations.

For example, Uber is derived from the German word meaning “above all the rest.” The name works because the company was founded as a better alternative to flagging a cab in the street by letting users summon a ride using their mobile phones.

Yoshinoya, the global Japanese restaurant chain, consists of three Japanese words meaning “luck,” “field” and “house” and is derived from “Yoshino,” the name of the owner’s hometown.

How to Name Your Business

Use a structured, disciplined approach to develop a list of potential names for your business. Don’t rely on a gut feeling. Engage in market research, talk to potential customers, solicit feedback from friends and family and continue iterating until you find the name that sticks.

Brainstorm business names.

Use brainstorming techniques to develop a comprehensive list of potential business names. Familiarize yourself with the general naming ecosystem — how did your competitors come up with their brand names? Does your chosen industry favor certain naming conventions?

Think about household-name brands you recognize the most. For example, what does the brand name Kleenex bring to mind? What about Sharpie? You will need to do exploration and iteration to come up with the right brand name.

You can start the process on your own, but make sure to solicit the feedback of trusted advisors, friends and family members before going public.

Do a word dump

Start by jotting down all the relevant words to your brand and industry. Don’t overanalyze. The point of a word dump is to come up with word vomit.

Set a timer (anywhere from 10-30 minutes) and try not to stop writing during that time — from descriptive words to root words in other languages to words that describe your product or service. Don’t hold back.

Use a thesaurus

Review the list of words you generated from your word dump and use a thesaurus to find synonyms and antonyms.

Expanding your list gives you more options to choose from. Then you can cross out names that aren’t relevant. However, don’t limit yourself to adjectives. Some of the strongest-sounding company names are nouns.

Use a name generator.

Online business name generators suggest a list of potential business names based on just a few keywords. These name generators instantly check for domain availability; that way, you don’t choose a business name and then find that you cannot register a “.com” domain under your business name.

You can specify your industry, products and services and add other filters, such as adjusting the tone and length of your business name. The more keywords you use, the more diverse suggestions you’ll receive. Try it more than once. Keep iterating until you find the business name that’s right for you.

BusinessNameGenerator.com : This website generates thousands of business name ideas based on just a few keywords. You can then narrow the results by selecting relevant industries and applying filters. The site lets you adjust the length, tone and overall catchiness of each name to find the perfect moniker.

Namelix : This name generator helps you create a short branded name that is easy to remember. Most company name generators combine dictionary words to generate longer business names. If brevity and catchiness are what you’re looking for, this one’s a winner.

Wordoid : If you’re looking for a unique name, you might want to check out Wordoid. The tool helps develop made-up, yet catchy and meaningful terms to use as a business name. It’s also linked to the GoDaddy domain hosting firm, to make it easy to buy a domain name if you wish.

Make a list of the best business names.

After doing a thorough word dump and generating as many potential names as possible, it’s time to shortlist your name choices. Ditch any monikers that sound too similar to that of an existing business. Best-case scenario: potential customers might get you mixed up with the other business. Worst-case scenario: You might get sued for trademark violation.

Does the name make sense for the business?

Choose a business name that reflects your brand identity and makes your core audience feel like they’ve come to the right business for their needs.

If you’re a laidback brand catering to a youthful audience, don’t go with a straitlaced name that makes you sound like a law firm. Pay attention to the general cadence of business names in your industry.

For example, financial firms and management consulting companies have similar naming conventions of using the founder’s name.

Does the name convey some meaning?

Your business name is the heart of your brand identity — especially if it originates from an interesting or touching backstory.

Some brand names are derived from ancient mythology — the name “Nike” comes from the Ancient Greek “Winged Goddess of Victory” — others are conceived by pure luck. LEGO comes from a contraction of the Danish phrase leg godt, which means ‘play well.’ The right name for your business leaves no doubt in customers’ minds that you’re the brand for them.

Is the name easy to remember?

An overly long name consisting of made-up words with no connection to your products or services will slip people’s minds. Remember, it costs more to brand a business with an unrelated name.

Your marketing campaigns will not resonate if customers cannot associate your business name with what you sell. This will also put a damper on word-of-mouth marketing. Happy customers cannot refer you to their friends if they don’t remember your business name.

Is the name easy for people to spell?

In the digital age, business names should be formulated with search engines in mind. When people search for your business online, can they find it easily? Hard-to-spell names are less indexable in search engine results, and it’s more likely that people will misspell the name and fail to find your business altogether.

Does it look appealing?

Your business name will grace your logo , marketing collateral, social media accounts and other branded materials. The perfect business name must be visually appealing and sound pleasing when spoken aloud. Pay attention to the shapes of the letters. Is it easy to design your logo around it? Is it pleasing to the eye?

Follow naming rules for business structure.

While it’s great to exercise creativity when naming a new business, don’t neglect practical considerations related to your business plan and type of business. Each state has its own restrictions on business names—make sure to check with your local business bureau.

Your business can only have one “legal” name at a time — the official name you use when you file with the state to form your LLC or C-Corp — but you can have multiple assumed or DBA (“doing business as”) names.

For example, if your LLC’s legal name is “Harwick and Sons LLC),” you can file a DBA to do business as “Number One Plumbers.”

Limited Liability Corporations

Many small business owners structure their businesses as LLCs. This helps protect personal assets if a company faces legal action.

While restrictions differ between states, there’s a common thread. Company names must include the phrase ‘limited liability company’ or the acronyms ‘LLC’ or ‘L.L.C.’

You cannot use words that imply the company is a government entity (eg: federal, Treasury, United States) or words like “bank,” “trust,” or “insurance” unless legally authorized to operate as such by the appropriate government agency.

C-Corporations

C-Corps are the most common type of corporation. They are suitable for businesses with shareholders, directors, and officers working in association because they protect shareholders from being liable for the debts of the corporations (shareholder liability is limited to what shareholders themselves have invested).

A corporation’s name typically must include words like ‘Corporation,’ ‘Incorporated,’ ‘Company,’ or ‘Limited’ or abbreviations like ‘Corp.,’ ‘Inc.,’ ‘Co.,’ or ‘Ltd.’

Informal business structures

Businesses run by one or two people tend to identify as sole proprietorships or partnerships. There are fewer rules for these types of businesses, but you should still tread carefully.

Sole proprietorship

Sole proprietors can operate under the founder’s surname or a fictitious name . If you use a fictitious name (by filing for a DBA), you must register your business with your local secretary of state.

A DBA lets you trade under an official brand name that isn’t your surname. Registering your business name can make it easier to open a business bank account and get an employer identification number (EIN).

General partnership

General partnerships have two or more owners. Registered partnership names must include the surnames of the founders. If you want to operate under a different name, file for a DBA.

Check if the business name is available.

Before growing too attached to a prospective business name, ensure another business hasn’t claimed it.

Domain availability

Ideally, your domain name matches your company name. If the ‘.com’ domain name is taken, you might opt for a .org or .net domain, although studies show that people tend to trust .com domains more.

When looking up your business for the first time, they are also most likely to assume that your business is under a .com domain name, and if they can’t find you that way, they may give up searching altogether.

Search federal trademark records

Search USPTO.gov to find out whether you can get a trademark or service mark for the name. Type in your business name idea and the search engine will tell you if that name is taken or is semantically similar to the name of an existing business.

Conduct a Secretary of State search

Search your local Secretary of State to determine if your business name is distinguishable in the Secretary of State's records from the name of an existing entity.

You can ask the Secretary of State to provide a preliminary determination on name availability, but you may need to wait for a final determination before you use it. You can also run a business entity name search on the Secretary of State’s website.

Register Your Business Name

To register a business name, you must first register your business to make it a distinct legal entity. Most businesses must file for a federal tax ID.

If you want to trademark your business, brand or product name, file with the United States Patent and Trademark Office once you’ve formed your business. If your business is an LLC, C-corp, partnership or nonprofit, you’ll need to register with the secretary of state’s office, a business bureau or a business agency.

Guidelines for Business Name Ideas

Follow the above steps and you’ll land on the perfect business name. Before you embark on the naming process, let’s recap some crucial factors to keep in mind throughout.

Understand your business.

You need a solid understanding of your business — its purpose, vision, mission and target audience. The business name must reflect that and should be the guiding principle for your brand identity. A good business name conveys your business's benefits through evocative words or literal meaning.

Use descriptive words.

Adjectives are a great way to convey meaning. For example, if your business is known for producing high-quality, bespoke items, include descriptors like ‘custom’ or ‘best’ in your business name. Or if you’re known for speedy services, words like ‘instant’ or ‘rapid’ convey your unique value proposition.

Be literal.

Don’t make potential customers work too hard to determine what your business offers. They should recognize what you can provide simply by reading your name. This might mean including words that describe your product.

Use the word ‘furniture’ or ‘home goods’ in your business name if you sell furniture.

Choose a name style.

Choosing a name style keeps you consistent. Following common naming conventions in your industry may improve the stickiness of your business name.

Obvious/literal names : A business name that clarifies what the company is about by using common words to explain it. Tells you exactly what the company does.

Mainstream words : Using common everyday words and turning them into a brand. Instead of using made-up words, you’ll use everyday words that evoke what the brand does without directly referring to it.

The owner’s name : Some companies use the founder or owner’s moniker as the business name— especially in finance, law and business consulting.

Made-up/unrelated words : Some businesses use made-up names that may be harder to brand (it’s harder for people to make the association unless your brand is super well-known) but they may be more memorable in the long run.

Avoid hard-to-spell names.

Names that are hard to spell won’t stick in people’s minds and are harder to search for online. People also have to type it in to send you emails. Avoid the danger of future misspelling on business cards, merch and marketing collateral.

Tell a story.

Some names are evocative and can tell a story of your firm’s ethos and origins in just a few short words.

Get feedback on the name.

Seek as many second opinions as you can. As a business owner, you may be biased. Feedback is critical at all stages of business formation. Try to do market research and interviews with prospective customers to see what they think of the name.

Don’t be too narrow.

Some major brands have made the mistake of choosing a name that is too narrow, suggesting they only sell one product. In 2018, Dunkin’ Donuts dropped the ‘Donuts’ part of its name to emphasize its beverages and breakfast items. Avoid choosing a name that is too narrow and won’t grow with you as your business scales.

Be careful about geographic names.

Geographic names might make you seem too localized, which is undesirable if you serve customers across the country or even in different countries. Out-of-state customers might mistakenly assume you won’t serve them.

However, if localization is your unique value proposition, don’t hesitate to emphasize it.

Choose a scalable name.

Finding a business name is about the future as well as the present. Choose something that will grow with your business, especially if you anticipate expanding your physical premises or catering to international markets in the future.

The Final Word

Naming a business is a major responsibility that sets the tone for how customers perceive your brand. Following an ordered approach, researching the market and using online name generators will help set you on the right track.

FAQs About How to Name a Business

What are recent trends in business names, should you name your business after yourself, can i sell my trademark or buy someone else’s, browse additional resources.

assignments basic law

Assignments: The Basic Law

The assignment of a right or obligation is a common contractual event under the law and the right to assign (or prohibition against assignments) is found in the majority of agreements, leases and business structural documents created in the United States.

As with many terms commonly used, people are familiar with the term but often are not aware or fully aware of what the terms entail. The concept of assignment of rights and obligations is one of those simple concepts with wide ranging ramifications in the contractual and business context and the law imposes severe restrictions on the validity and effect of assignment in many instances. Clear contractual provisions concerning assignments and rights should be in every document and structure created and this article will outline why such drafting is essential for the creation of appropriate and effective contracts and structures.

The reader should first read the article on Limited Liability Entities in the United States and Contracts since the information in those articles will be assumed in this article.

Basic Definitions and Concepts:

An assignment is the transfer of rights held by one party called the “assignor” to another party called the “assignee.” The legal nature of the assignment and the contractual terms of the agreement between the parties determines some additional rights and liabilities that accompany the assignment. The assignment of rights under a contract usually completely transfers the rights to the assignee to receive the benefits accruing under the contract. Ordinarily, the term assignment is limited to the transfer of rights that are intangible, like contractual rights and rights connected with property. Merchants Service Co. v. Small Claims Court , 35 Cal. 2d 109, 113-114 (Cal. 1950).

An assignment will generally be permitted under the law unless there is an express prohibition against assignment in the underlying contract or lease. Where assignments are permitted, the assignor need not consult the other party to the contract but may merely assign the rights at that time. However, an assignment cannot have any adverse effect on the duties of the other party to the contract, nor can it diminish the chance of the other party receiving complete performance. The assignor normally remains liable unless there is an agreement to the contrary by the other party to the contract.

The effect of a valid assignment is to remove privity between the assignor and the obligor and create privity between the obligor and the assignee. Privity is usually defined as a direct and immediate contractual relationship. See Merchants case above.

Further, for the assignment to be effective in most jurisdictions, it must occur in the present. One does not normally assign a future right; the assignment vests immediate rights and obligations.

No specific language is required to create an assignment so long as the assignor makes clear his/her intent to assign identified contractual rights to the assignee. Since expensive litigation can erupt from ambiguous or vague language, obtaining the correct verbiage is vital. An agreement must manifest the intent to transfer rights and can either be oral or in writing and the rights assigned must be certain.

Note that an assignment of an interest is the transfer of some identifiable property, claim, or right from the assignor to the assignee. The assignment operates to transfer to the assignee all of the rights, title, or interest of the assignor in the thing assigned. A transfer of all rights, title, and interests conveys everything that the assignor owned in the thing assigned and the assignee stands in the shoes of the assignor. Knott v. McDonald’s Corp ., 985 F. Supp. 1222 (N.D. Cal. 1997)

The parties must intend to effectuate an assignment at the time of the transfer, although no particular language or procedure is necessary. As long ago as the case of National Reserve Co. v. Metropolitan Trust Co ., 17 Cal. 2d 827 (Cal. 1941), the court held that in determining what rights or interests pass under an assignment, the intention of the parties as manifested in the instrument is controlling.

The intent of the parties to an assignment is a question of fact to be derived not only from the instrument executed by the parties but also from the surrounding circumstances. When there is no writing to evidence the intention to transfer some identifiable property, claim, or right, it is necessary to scrutinize the surrounding circumstances and parties’ acts to ascertain their intentions. Strosberg v. Brauvin Realty Servs., 295 Ill. App. 3d 17 (Ill. App. Ct. 1st Dist. 1998)

The general rule applicable to assignments of choses in action is that an assignment, unless there is a contract to the contrary, carries with it all securities held by the assignor as collateral to the claim and all rights incidental thereto and vests in the assignee the equitable title to such collateral securities and incidental rights. An unqualified assignment of a contract or chose in action, however, with no indication of the intent of the parties, vests in the assignee the assigned contract or chose and all rights and remedies incidental thereto.

More examples: In Strosberg v. Brauvin Realty Servs ., 295 Ill. App. 3d 17 (Ill. App. Ct. 1st Dist. 1998), the court held that the assignee of a party to a subordination agreement is entitled to the benefits and is subject to the burdens of the agreement. In Florida E. C. R. Co. v. Eno , 99 Fla. 887 (Fla. 1930), the court held that the mere assignment of all sums due in and of itself creates no different or other liability of the owner to the assignee than that which existed from the owner to the assignor.

And note that even though an assignment vests in the assignee all rights, remedies, and contingent benefits which are incidental to the thing assigned, those which are personal to the assignor and for his sole benefit are not assigned. Rasp v. Hidden Valley Lake, Inc ., 519 N.E.2d 153, 158 (Ind. Ct. App. 1988). Thus, if the underlying agreement provides that a service can only be provided to X, X cannot assign that right to Y.

Novation Compared to Assignment:

Although the difference between a novation and an assignment may appear narrow, it is an essential one. “Novation is a act whereby one party transfers all its obligations and benefits under a contract to a third party.” In a novation, a third party successfully substitutes the original party as a party to the contract. “When a contract is novated, the other contracting party must be left in the same position he was in prior to the novation being made.”

A sublease is the transfer when a tenant retains some right of reentry onto the leased premises. However, if the tenant transfers the entire leasehold estate, retaining no right of reentry or other reversionary interest, then the transfer is an assignment. The assignor is normally also removed from liability to the landlord only if the landlord consents or allowed that right in the lease. In a sublease, the original tenant is not released from the obligations of the original lease.

Equitable Assignments:

An equitable assignment is one in which one has a future interest and is not valid at law but valid in a court of equity. In National Bank of Republic v. United Sec. Life Ins. & Trust Co. , 17 App. D.C. 112 (D.C. Cir. 1900), the court held that to constitute an equitable assignment of a chose in action, the following has to occur generally: anything said written or done, in pursuance of an agreement and for valuable consideration, or in consideration of an antecedent debt, to place a chose in action or fund out of the control of the owner, and appropriate it to or in favor of another person, amounts to an equitable assignment. Thus, an agreement, between a debtor and a creditor, that the debt shall be paid out of a specific fund going to the debtor may operate as an equitable assignment.

In Egyptian Navigation Co. v. Baker Invs. Corp. , 2008 U.S. Dist. LEXIS 30804 (S.D.N.Y. Apr. 14, 2008), the court stated that an equitable assignment occurs under English law when an assignor, with an intent to transfer his/her right to a chose in action, informs the assignee about the right so transferred.

An executory agreement or a declaration of trust are also equitable assignments if unenforceable as assignments by a court of law but enforceable by a court of equity exercising sound discretion according to the circumstances of the case. Since California combines courts of equity and courts of law, the same court would hear arguments as to whether an equitable assignment had occurred. Quite often, such relief is granted to avoid fraud or unjust enrichment.

Note that obtaining an assignment through fraudulent means invalidates the assignment. Fraud destroys the validity of everything into which it enters. It vitiates the most solemn contracts, documents, and even judgments. Walker v. Rich , 79 Cal. App. 139 (Cal. App. 1926). If an assignment is made with the fraudulent intent to delay, hinder, and defraud creditors, then it is void as fraudulent in fact. See our article on Transfers to Defraud Creditors .

But note that the motives that prompted an assignor to make the transfer will be considered as immaterial and will constitute no defense to an action by the assignee, if an assignment is considered as valid in all other respects.

Enforceability of Assignments:

Whether a right under a contract is capable of being transferred is determined by the law of the place where the contract was entered into. The validity and effect of an assignment is determined by the law of the place of assignment. The validity of an assignment of a contractual right is governed by the law of the state with the most significant relationship to the assignment and the parties.

In some jurisdictions, the traditional conflict of laws rules governing assignments has been rejected and the law of the place having the most significant contacts with the assignment applies. In Downs v. American Mut. Liability Ins. Co ., 14 N.Y.2d 266 (N.Y. 1964), a wife and her husband separated and the wife obtained a judgment of separation from the husband in New York. The judgment required the husband to pay a certain yearly sum to the wife. The husband assigned 50 percent of his future salary, wages, and earnings to the wife. The agreement authorized the employer to make such payments to the wife.

After the husband moved from New York, the wife learned that he was employed by an employer in Massachusetts. She sent the proper notice and demanded payment under the agreement. The employer refused and the wife brought an action for enforcement. The court observed that Massachusetts did not prohibit assignment of the husband’s wages. Moreover, Massachusetts law was not controlling because New York had the most significant relationship with the assignment. Therefore, the court ruled in favor of the wife.

Therefore, the validity of an assignment is determined by looking to the law of the forum with the most significant relationship to the assignment itself. To determine the applicable law of assignments, the court must look to the law of the state which is most significantly related to the principal issue before it.

Assignment of Contractual Rights:

Generally, the law allows the assignment of a contractual right unless the substitution of rights would materially change the duty of the obligor, materially increase the burden or risk imposed on the obligor by the contract, materially impair the chance of obtaining return performance, or materially reduce the value of the performance to the obligor. Restat 2d of Contracts, § 317(2)(a). This presumes that the underlying agreement is silent on the right to assign.

If the contract specifically precludes assignment, the contractual right is not assignable. Whether a contract is assignable is a matter of contractual intent and one must look to the language used by the parties to discern that intent.

In the absence of an express provision to the contrary, the rights and duties under a bilateral executory contract that does not involve personal skill, trust, or confidence may be assigned without the consent of the other party. But note that an assignment is invalid if it would materially alter the other party’s duties and responsibilities. Once an assignment is effective, the assignee stands in the shoes of the assignor and assumes all of assignor’s rights. Hence, after a valid assignment, the assignor’s right to performance is extinguished, transferred to assignee, and the assignee possesses the same rights, benefits, and remedies assignor once possessed. Robert Lamb Hart Planners & Architects v. Evergreen, Ltd. , 787 F. Supp. 753 (S.D. Ohio 1992).

On the other hand, an assignee’s right against the obligor is subject to “all of the limitations of the assignor’s right, all defenses thereto, and all set-offs and counterclaims which would have been available against the assignor had there been no assignment, provided that these defenses and set-offs are based on facts existing at the time of the assignment.” See Robert Lamb , case, above.

The power of the contract to restrict assignment is broad. Usually, contractual provisions that restrict assignment of the contract without the consent of the obligor are valid and enforceable, even when there is statutory authorization for the assignment. The restriction of the power to assign is often ineffective unless the restriction is expressly and precisely stated. Anti-assignment clauses are effective only if they contain clear, unambiguous language of prohibition. Anti-assignment clauses protect only the obligor and do not affect the transaction between the assignee and assignor.

Usually, a prohibition against the assignment of a contract does not prevent an assignment of the right to receive payments due, unless circumstances indicate the contrary. Moreover, the contracting parties cannot, by a mere non-assignment provision, prevent the effectual alienation of the right to money which becomes due under the contract.

A contract provision prohibiting or restricting an assignment may be waived, or a party may so act as to be estopped from objecting to the assignment, such as by effectively ratifying the assignment. The power to void an assignment made in violation of an anti-assignment clause may be waived either before or after the assignment. See our article on Contracts.

Noncompete Clauses and Assignments:

Of critical import to most buyers of businesses is the ability to ensure that key employees of the business being purchased cannot start a competing company. Some states strictly limit such clauses, some do allow them. California does restrict noncompete clauses, only allowing them under certain circumstances. A common question in those states that do allow them is whether such rights can be assigned to a new party, such as the buyer of the buyer.

A covenant not to compete, also called a non-competitive clause, is a formal agreement prohibiting one party from performing similar work or business within a designated area for a specified amount of time. This type of clause is generally included in contracts between employer and employee and contracts between buyer and seller of a business.

Many workers sign a covenant not to compete as part of the paperwork required for employment. It may be a separate document similar to a non-disclosure agreement, or buried within a number of other clauses in a contract. A covenant not to compete is generally legal and enforceable, although there are some exceptions and restrictions.

Whenever a company recruits skilled employees, it invests a significant amount of time and training. For example, it often takes years before a research chemist or a design engineer develops a workable knowledge of a company’s product line, including trade secrets and highly sensitive information. Once an employee gains this knowledge and experience, however, all sorts of things can happen. The employee could work for the company until retirement, accept a better offer from a competing company or start up his or her own business.

A covenant not to compete may cover a number of potential issues between employers and former employees. Many companies spend years developing a local base of customers or clients. It is important that this customer base not fall into the hands of local competitors. When an employee signs a covenant not to compete, he or she usually agrees not to use insider knowledge of the company’s customer base to disadvantage the company. The covenant not to compete often defines a broad geographical area considered off-limits to former employees, possibly tens or hundreds of miles.

Another area of concern covered by a covenant not to compete is a potential ‘brain drain’. Some high-level former employees may seek to recruit others from the same company to create new competition. Retention of employees, especially those with unique skills or proprietary knowledge, is vital for most companies, so a covenant not to compete may spell out definite restrictions on the hiring or recruiting of employees.

A covenant not to compete may also define a specific amount of time before a former employee can seek employment in a similar field. Many companies offer a substantial severance package to make sure former employees are financially solvent until the terms of the covenant not to compete have been met.

Because the use of a covenant not to compete can be controversial, a handful of states, including California, have largely banned this type of contractual language. The legal enforcement of these agreements falls on individual states, and many have sided with the employee during arbitration or litigation. A covenant not to compete must be reasonable and specific, with defined time periods and coverage areas. If the agreement gives the company too much power over former employees or is ambiguous, state courts may declare it to be overbroad and therefore unenforceable. In such case, the employee would be free to pursue any employment opportunity, including working for a direct competitor or starting up a new company of his or her own.

It has been held that an employee’s covenant not to compete is assignable where one business is transferred to another, that a merger does not constitute an assignment of a covenant not to compete, and that a covenant not to compete is enforceable by a successor to the employer where the assignment does not create an added burden of employment or other disadvantage to the employee. However, in some states such as Hawaii, it has also been held that a covenant not to compete is not assignable and under various statutes for various reasons that such covenants are not enforceable against an employee by a successor to the employer. Hawaii v. Gannett Pac. Corp. , 99 F. Supp. 2d 1241 (D. Haw. 1999)

It is vital to obtain the relevant law of the applicable state before drafting or attempting to enforce assignment rights in this particular area.

Conclusion:

In the current business world of fast changing structures, agreements, employees and projects, the ability to assign rights and obligations is essential to allow flexibility and adjustment to new situations. Conversely, the ability to hold a contracting party into the deal may be essential for the future of a party. Thus, the law of assignments and the restriction on same is a critical aspect of every agreement and every structure. This basic provision is often glanced at by the contracting parties, or scribbled into the deal at the last minute but can easily become the most vital part of the transaction.

As an example, one client of ours came into the office outraged that his co venturer on a sizable exporting agreement, who had excellent connections in Brazil, had elected to pursue another venture instead and assigned the agreement to a party unknown to our client and without the business contacts our client considered vital. When we examined the handwritten agreement our client had drafted in a restaurant in Sao Paolo, we discovered there was no restriction on assignment whatsoever…our client had not even considered that right when drafting the agreement after a full day of work.

One choses who one does business with carefully…to ensure that one’s choice remains the party on the other side of the contract, one must master the ability to negotiate proper assignment provisions.

Founded in 1939, our law firm combines the ability to represent clients in domestic or international matters with the personal interaction with clients that is traditional to a long established law firm.

The Complete Guide on How to Name a Business

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When you start a new business , finding a name for your company can be challenging and time-consuming.

Some new business owners feel paralyzed by this challenge and can’t even begin to write a business plan until they settle on a business name.

Your company name (a “brand name”) is the mental trigger that helps customers and prospects think about your business. It’s a core part of your company’s brand strategy .

A strong business name can help differentiate your business from competitors, identify what you’re offering, inspire your team and others, and boost brand recall.

When a person hears or sees a brand name, their brain creates a mental association and reaction. These associations and responses can be positive (when a person likes the name or brand) or negative (when someone doesn’t like the name or brand).

If you want to build a strong brand, a business name that captures your brand essence is the foundation for everything else.

Over the past fifteen years, our team and community have helped thousands of entrepreneurs and small businesses develop unique and memorable names for their businesses. We frequently talk and write about naming businesses and have keynote webinars and conferences on naming. This guide shares the actionable insights, tips, best practices, and expertise we’ve developed after helping over one hundred thousand brands.

Here’s everything you need to know to find a great business name for your new company.

How brand names are structured

Brand names can be structured in different ways, including real words (Staples, Amazon , Apple ), truncated real words (FedEx, Cisco), alphanumerics (7-Eleven, 3M), compound words (Microsoft, DreamWorks, MasterCard), and coined words (Google, Zappos, Coca-Cola).

Five types of brand names

Nearly all brand names fall into several categories. You should understand these categories to assess what type of business name you like most.

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Descriptive names

Descriptive names describe the goods or services being offered. These include names like Antique Lightbulbs or Jane’s Surfboards.

Descriptive names work best when you want to reach an audience that wants to know what your product or service does or when your product or service has a short lifecycle and a small marketing budget.

Descriptive names are tough to trademark because they use common words. So, if you plan to trademark your business name, you should look for names that are not descriptive.

Suggestive names

Suggestive names are similar to descriptive names but are less clear about the goods and services offered. For example, Fitbit is a suggestive name. It contains the word “fit,” which relates to fitness, but it’s not completely clear that the products or services offered are fitness products. Still, many people would guess that “Fitbit” is a name for a company that provides fitness products or services.

Arbitrary and fanciful names

Arbitrary and fanciful names have no apparent connection to the brand. They can be arbitrary names like Apple, Virgin, or Slack, or fanciful names containing made-up words, like Google or Kodak.

Arbitrary and fanciful names are easier to trademark because they are distinctive. But because they’re so unusual, they also require more marketing support to help people connect the brand names to the goods and services the company sells.

Names based on different languages

When creating a different tone, consider names derived from languages other than English. This is especially helpful if your target audience is primarily non-English speakers.

Names based on different languages can also appeal to English speakers. For example, Prego means “please” in Italian and is also a famous tomato sauce.

Acronyms & initialisms

Acronyms are words pronounced as words. Initialisms are pronounced as their letters.

For most companies, names based on acronyms and initialisms are not ideal because they can confuse your target audience.

But sometimes, a longer business name is easier to pronounce when shortened. International Business Machines Corporation is a good example: IBM.

At other times, a longer business name is too limiting and challenging. This was the case for Minnesota Mining and Manufacturing Company, which renamed itself 3M.

Some acronyms can work well as initialisms too. For example, MADD (Mothers Against Drunk Driving) works well in abbreviations and long-form.

entrepreneur sitting in front of a computer

The best business names have all or most of these nine elements:

Imagination . The name engages and sparks a customer’s or prospect’s imagination. Fun names like Häagen-Dazs do so for many people.
Distinctiveness . The name differentiates your business from others in your target market. Think Microsoft Project, Teamwork, and Zoho Projects versus Basecamp.
Brand fit. The best names will capture the essence of your brand (examples: Tesla and Twitter).
Short and concise. You want the name to be as short as possible. Shorter names are easier to remember and spell. Compare (Apple to Micro-Star International Co., Ltd.
Lasting . Will the name remain relevant as your brand grows? If Amazon named itself OnlyBooks, it would have had to rebrand when it started selling other items.
Sounds good. The best names are pleasing to the ear. Think Jamba Juice.
Consistency . Follow naming conventions that connect to your brand name if you introduce complementary products. You won’t see Apple introduce a phone called Starbase or a watch called Timer.
Protectability . You should see if the business name you want is available for trademarking and whether you can buy a domain that matches the business name.
Appropriateness . When you sell globally, make sure your business name doesn’t carry a severe negative meaning in another major language.

How to start the business naming process

Start by compiling a brief summary summarizing your naming strategy’s critical parts.

Here are some of the essential questions your creative brief should answer:

What are you naming?

Most people name companies, and the answer to this question is easy.

But sometimes, you are naming a product, and the answer is more complicated. For example, is it a brand-new product or an extension of an existing product line? The latter typically needs to connect to the rest of the product line.

Similarly, it would help to consider whether you’re creating a suite of products based on this initial product or whether it will stand alone.

How will you use the name?

If you’re looking for a business name, use it on your business cards, website, brochures, signs, packaging, etc. Consider any particular uses that could influence the type of name you’ll select.

What is your target market?

You must do market research to understand how the name fits your target market. This isn’t always obvious because markets can be hyper-specific or broad.

What names do your competitors use?

In some industries, there are naming patterns. Other industries reward novelty and innovation when it comes to naming. In both cases, you’ll want to differentiate.

Who are your customers?

Are you selling directly to consumers (B2C) or other businesses (B2B)? Are you selling to senior citizens of Gen-Z? The better you understand your target audience, the more prepared you’ll be to assess whether you’ve found the right name that will resonate with that audience.

How do you differentiate?

This is your unique selling proposition. What special sauce will prompt people to buy your products and services over your competitors? You can use a SWOT analysis to define your unique selling proposition better.

Are words from other languages acceptable?

Other languages can be playful (Swahili, for example) or communicate better with a particular audience (French for an upscale audience). But remember that words can have negative meanings and associations in other languages, so consider your target markets and how your name would be interpreted in those markets.

What brand attributes should the name communicate?

This is tough to accomplish with most names, but you can sometimes communicate various brand attributes with a business name. For example, Sir Speedy’s name (professional printing and marketing services) expresses that the product is “fast.”

Do you prefer a specific tone?

Certain pronunciations have specific connotations. For example, the popular coffee chain Starbucks got its name partly because the founders thought “st” makes a strong vocal sound.

Can your product accommodate your business name?

Small products have limited physical space on which you can print the name. So consider whether you’ll want to publish your name on products and whether you’ll be constrained with a longer name.

Will you need a matching domain name?

Domain names can be tough to find. But you can add a descriptor to your business name. For example, if your business name is clout and the domain is already taken, you can use joinclout as the domain.

Now that you’ve learned the basics, here are nineteen proven tips to help you pick a strong business name:

19 Tips for a Strong Business Name

Be patient when naming a business.
Think about what you want your business name to convey.
Avoid decisions by committee.
Avoid business names that are too narrow or too literal.
Give yourself options.
Don’t get discouraged if you cannot get a matching domain name.
Consider whether you can obtain a trademark.
Conduct a Secretary of State search.
Avoid naming trends.
Avoid obscure words.
Avoid plain words.
Be careful with geographic names.
Keep the name short, simple, and easy to write and remember.
The name is only part of your brand identity.
Set a time limit.
Trust your target audience.
Be open-minded.
Think like your customers.
Good is better than perfect.

1. Be patient when naming a business.

Finding a great name in a few hours is possible, but this is rare. The process can take weeks as you explore lots of options.

Think about words that describe your industry or the products/services you offer. Think about words that describe your competitors and terms that describe the differences between your products and services and those of your competitors.

Also, consider words that describe the benefits of using your products or services. Finally, think about words (and phrases) that evoke the feelings you want your customers to feel when they see your company name.

Here’s a handy ideas guide for many different industries, like salon name ideas (and many others, including restaurant name ideas, consulting business name ideas, photography business name ideas, and much more).

While brainstorming, look up Greek and Latin translations of your words – you might find new ideas from doing that exercise. Look at foreign words too.

Expect this process to take lots of time (it took us about 40+ hours to brainstorm and then another 10 to finalize names for crowdspring – we went through MANY possible names). Don’t forget to leverage resources, including a dictionary, thesaurus, and other resources that may help. This terrific naming resources guide can help you get started.

2. Think about what you want your business name to convey.

Your business name is an essential part of your company’s brand identity .

The name will appear in your company logo and on your business cards , letterhead, website, promotional materials, products, and everywhere in print to identify your company or your company’s products and/or services.

Service-oriented businesses should consider whether it will be easy for their prospective customers to recognize what services the business provides based on the name of the company (for example: Friendly Dog Walkers or Bright Accounting).

3. Avoid decisions by committee.

People rarely agree about anything. And when it comes to naming, this is always true.

It’s tempting to involve our friends, family, employees, and customers to find your company’s name. Sometimes, this can work out well. But there are risks. People might be upset if you don’t pick a name they think is excellent.

You’ll also find yourself trying to find consensus – which can lead to a very plain name. If you must involve others, pick a small group of people who understand you and your business (and pick a mix of right-brain and left-brain types so you can have some variety).

Once you’ve selected a few possible choices, you should share them with trusted friends, family, and customers to get feedback about the name.

Pick a person who will ultimately decide, provide input, and then let that person pick the name. Otherwise, you’ll end up wasting a lot of time or will compromise on a name that’s weak but tolerated by everyone.

4. Avoid business names that are too narrow or too literal.

Think about how your company may evolve and ensure the company name can grow with the business.

For example, your original name will be too narrow and restrictive if you name your company iPhone Accessories and later expand into selling accessories for other products.

The same advice applies even if your company sells a niche product.

For example, if you sell antique lamps, you should consider whether you might sell more than lamps in the future. Naming your business Joan’s Antique Lamps may be too limiting when you later sell antique clocks and furniture.

5. Give yourself options.

Even when you find a name you love, consider other possibilities.

Select several names that can work well for you and register those domains to have options. Don’t anchor yourself to a name prematurely before you’ve done some due diligence.

6. Don’t get discouraged if you can’t get a matching domain name.

Look for a company name also available for registration as a domain (ideally, as a .com domain).

You should understand that .com domains are prevalent, and you’ll struggle to find available domains that match your company name.

A strong and memorable name that requires a descriptor for the domain name is often much better than a less memorable name for which you can exactly match the domain.

7. Consider whether you can obtain a trademark.

It’s essential to ensure that your competitors are not using the same name in your industry.

It’s not uncommon to find similar (or identical names) in different industries, but this can confuse your customers and vendors.

If your competitors are using the same name – you’ll expose yourself to possible litigation, and you’ll likely be unable to obtain trademark protection for your company name. Since intellectual property is valuable, this is not something you should take for granted.

So, select a company name that you’ll be able to register for trademark/servicemark protection .

Trademark rights arise only through commerce (when you offer items for sale and use the trade name or logo in your marketing materials or on the products). You are not required to register a company name – you can acquire common law rights simply by using the name in commerce.

8. Conduct a Secretary of State search.

You’ll likely want to register your business with the Secretary of State. Most states require some form of registration for you to operate a business lawfully in the state.

Most entrepreneurs and business owners register their business as an LLC or corporation to insulate themselves from personal liability.

Hire an expert to form your company and save time. Our trusted partners can help: Northwest ($39 + state fee) or Bizee ($199 + state fee) . We recommend Northwest. After evaluating the leading registration companies, Northwest stands out as our top choice due to its competitive pricing, exceptional customer support, and commitment to privacy. Pay just $39 + state fees and you'll get a free year of registered agent service, articles of organization, privacy, and client support from local experts.

You can search your state’s records to ensure no business registrations with identical or similar-sounding names.

This is especially important if you operate your business under an assumed or trade name that differs from your company’s legal name. In such cases, you must register a DBA (doing business as) with your Secretary of State. For about DBAs, take a look at this comprehensive DBA guide .

9. Avoid naming trends.

You’ll want your company’s name to evolve as trends evolve, so be careful to identify the trends and avoid following them.

For example, in the late 1990s, using a .com after a company name was trendy if it was an Internet business. After the Internet “bubble” burst, “.com” became synonymous with having no business model, and those companies who survived very quickly dropped “.com” from their names.

10. Avoid obscure words.

Company names that help tell stories can be powerful and memorable (think about Google , for example). But obscure words or references might be difficult to spell or pronounce. Be especially sensitive when trying to reach a mass audience (such as on the Internet).

Obscure or invented names can work – Xerox is a great example – but this often requires a huge marketing budget and effort.

Want a checklist to help you start your business?

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11. Avoid plain words.

Plain words make it very difficult to differentiate your company from your competitors.

Writing a business plan?

12. be careful with geographic names..

Some people use their city, state, or region as part of their company name.

If you plan only to work in your city, this might serve you well. But a geographic name could hinder you later.

One great example is Minnesota Manufacturing and Mining. Initially, the name worked because the business was focused on Minnesota. But once the company grew beyond its industry and the state of Minnesota, it needed to find a new name – 3M.

13. Keep the name short, simple, and easy to write and remember.

Think about the names of companies you admire. They typically have a few things in common: their names are short, simple, easy to write, and remember. (Examples: Apple, Google, Tesla, Slack).

Obscure business names are often difficult to write and even more challenging to remember.

Plus, obscure names typically make it harder to design a company logo for your business.

This is a problem because word-of-mouth advertising is the most successful form of marketing for most startups and small businesses. If your customers can’t remember your name or spell it for others, it will make it difficult for them to help promote your business.

While it might be tempting, avoid using a “K” in place of a “Q” or a “Ph” in place of an “F” when coming up with your company name. Such letter substitutions make spelling the name very difficult.

Starting a new business?

14. the name is only part of your brand identity..

A memorable business name is essential. But your brand identity is much more, including your company logo, business website, and more.

Don’t expand your name to tell your company’s full story . You’ll need to build a complete brand identity.

15. Set a time limit.

Some people can get bogged down naming their companies for months. Yes, it sounds crazy, but it’s true.

Don’t get distracted.

Finding a unique name is impossible, so don’t set that as a goal. Find something unique that stands out in your industry and doesn’t have much competition in search engine results. You have to differentiate, but you don’t need to find a name nobody has ever used. And if you get stuck, you can always try a business name generator to generate ideas.

16. Trust your target audience.

Naming is an art and a science. Some names may have slightly negative associations, but depending on your audience, that might not be a problem.

For example, many people love “Chilean Sea Bass”. This is an invented name for a fish called “Patagonian toothfish.” Few people want to eat a “toothfish,” but sea bass sounds excellent.

17. Be open-minded.

To find an unusual and memorable name, you must be open-minded. And you have to be brave.

If you’re merely comfortable with some names but not excited by them, you can be sure that your target audience will probably feel the same way about those names.

18. Think like your customers.

You should love the name, but it’s more important that your customers and prospects love it.

You might have some personal reasons why a particular name isn’t perfect for you. But, if it’s ideal for the business or your customers, you should ignore personal reasons.

19. Good is better than perfect.

Let’s face it: we all want a perfect, short, memorable name that’s easy to spell, remember, and fun to pronounce. Plus, one that has an exact match domain available.

But wanting something and finding it are different things.

Few names are perfect when you first consider them. Few names will match all of your naming criteria. But if you look for perfection, you may spend many months trying to name your business instead of launching it and working to grow it. Make intelligent, reasonable choices, and don’t let the search for perfection delay your launch.

How to check a name for potential problems

Although you won’t personally be able to do a full search and confirm that the name you want to use is legally available, there are steps you should check to identify any potential problems with possible names.

First, consider whether you can trademark the name. You can search the USPTO trademark database , for example, and search on Google to see if you can identify other companies using the name you’re considering.

Second, look at popular social networks like Twitter, Instagram, Facebook, and others to see if your name is available for registration. In a perfect world, you can reserve the name on all relevant social networks. But most people will have to make some compromises since it would be very unusual for a name to be available on all networks.

We hope that you have the tools to come up with a terrific and memorable name for your new business, product, or organization with these insights and tips.

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Registering a business name

A business name is the name your business operates under. You need to register a business name if you conduct business under a name other than your own.

This page contains:

Before you register a business name

How to register your business name

Support for business names

Before you register a business name there are some things to consider. Find out what to do before you start .

Business Registration Service

The Australian Government Business Registration Service combines several business and tax registrations in one place, making it even easier to start a business. You can apply for an Australian Business Number (ABN) and register your business name online.

Use the Business Registration Service

Other ways to register a business name

ASIC Connect - If you already have an ABN, you can apply for a business name directly with us by using ASIC Connect.

Private service provider - You can choose to register or renew your business name with a private service provider (PSP). This could be your accountant, your solicitor, or another business that provides online services with ASIC. They will usually charge a fee for their services above what ASIC would charge.

Find out more about private service providers .

Need help? See our support for business names page for step-by-step user guides.

You can also download our Regulatory Guide 235 or refer to our Top call centre questions .

Search our registers

Companies and organisations
Business names
Professional registers
Banned and disqualified

View all registers

Use our online services

Some of the things you can do online:

Change addresses
Update details
Download your company annual statement
Renew business name
Add business partner
Change business address
Check account balance
Submit financial reports
Download statements
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Apply for, vary, or cancel a registration
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Register a short seller
Register a submitting entity
Submit applications and notifications
Submit enquiries
Respond to notices
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Learn about online services
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Find a form

Changes to your company
201 Register a company
370 Officeholder notifies resignation/retirement

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How to Start a Business: A Startup Guide for Entrepreneurs [Template]

Updated: August 27, 2024

Published: August 26, 2024

I started a local HVAC business in the summer of 2020, and since then, I’ve learned a lot about which steps are most important for getting a business venture off the ground. To help you make your business idea a reality, I've put together a complete guide that walks you through the steps of starting a business.

how to start a business; entrepreneur learning how to start a business and talking to suppliers

The guide covers every step I’ve discovered you need to start a business, from the paperwork and finances to creating your business plan and growing your business online. At the bottom, you’ll find a library of the best free tools and resources to start selling and marketing your products and services.

Let's get started.

Table of Contents

What do you need to start a business?

How to start a business, how to make a business plan, how to decide on a company name, how to choose an ownership structure, how to register your business, how to comply with legal requirements, how to find funding for your new business, how to create a brand identity for your new business, tips for starting a business, resources to start a business, how to start a business online, top tips from founders and entrepreneurs, next steps: getting ready to launch your business.

Free Business Startup kit

9 templates to help you brainstorm a business name, develop your business plan, and pitch your idea to investors.

Business Name Brainstorming Workbook
Business Plan Template
Business Startup Cost Calculator

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Business Plan: Your plan is a document that provides in-depth detail about your business and its short- and long-term strategies.
Business Name: Your name is what you’ll call your company on all official documentation and licenses.
Business Structure: Your structure refers to the type of leadership and ownership your business will operate under.
Business Registration: Your registration is a credential with state authorities that allows your business to operate legally.
Legal Requirements: Your other legal requirements include business licenses and permits beyond the initial registration.
Funding: Your sources of funding refer to business grants, loans, and personal savings.
Branding: Your branding refers to the unique identity and image you create for your business.

Every budding entrepreneur wants more visitors, more qualified leads, and more revenue. But starting a business isn’t one of those “if you build it, they will come” situations. So, if you’re one of the 26% of entrepreneurs who got started out of passion, know that you’ve still got to run the business side of the business.

So much of getting a startup off the ground has to do with timing, planning, and the market, so consider if the economic conditions are right to start a company and whether you can successfully penetrate the market with your solution.

In order to build and run a successful company , you’ll also need to create and fine-tune a business plan, assess your finances, complete all the legal paperwork, pick your partners, research apps for startup growth, choose the best tools and systems to help you get your marketing and sales off the ground … and a whole lot more.

When I first started my business, I felt overwhelmed by the sheer magnitude of requirements, which is why I’ve summed up the process to make it easier for you.

In brief, the requirements for starting a business are:

A business plan.
A business name.
An ownership or business structure.
A business registration certificate.
A legal license or seller’s permit (as well as other legal documents).
A source of funding.
A brand identity.

Without these elements in place, you unnecessarily risk your new business’s future. Now, let’s go over these basic steps for starting a business.

Write a business plan.
Choose a business name.
Choose an ownership structure.
Register your business.
Review and comply with legal requirements.
Apply for funding.
Create a brand identity.

Having a great business idea is only part of the journey. In order to be successful, you’ll need to take a few steps to get it off the ground. In order to refine your business idea and set yourself up for success, consider doing the following:

1. Write a business plan .

Your business plan maps out the details of your business and how you plan to run it. Yet, with 70% of entrepreneurs starting their business out of a need for a lifestyle or career change and 26% out of passion or a great idea, many don’t take the time to create a business plan.

Below are the key elements in a business plan template, details about what goes into each of them, and example sections at the bottom. You’ll also learn tips for writing a business plan .

1. Use a business plan template .

Creating a business plan is a critical part of starting a business.

Free Business Plan Template

The essential document for starting a business -- custom built for your needs.

Outline your idea.
Pitch to investors.
Secure funding.
Get to work!

2. Narrow down what makes you different.

Before you start whipping up a business plan, think carefully about what makes your business unique first. If you’re planning to start a new athletic clothing business, for example, then you’ll need to differentiate yourself from the numerous other athletic clothing brands out there.

You’ll want to answer questions like some I’ve identified below (keeping in mind to adapt them to your industry):

What makes yours stand out from the others?
Who are you planning to create clothing for?
Are you planning to make clothing for specific sports or athletic activities, like yoga or hiking or tennis?
Do you use environmentally friendly material?
Does a certain percentage of your proceeds go to charity?
Does your brand promote a positive body image?

Understanding your brand’s position in the market will help you generate awareness and sales.

Pro tip: Remember, you’re not just selling your product or service — you’re selling a combination of product, value, and brand experience. Think through these big questions and outline them before you dive into the nitty-gritty of your business plan research.

3. Keep it short.

Business plans are shorter and more concise nowadays than they used to be. While it might be tempting to include all the results of your market research , flesh out every single product you plan to sell, and outline exactly what your website will look like — that’s actually not helpful in the format of a business plan.

Know these details and keep them elsewhere, but exclude everything but the meat and potatoes from the business plan itself. Your business plan shouldn’t just be a quick(ish) read — it should be easy to skim, too, like the example below.

Pro tip: If someone who doesn’t know a lot about your service can easily digest your business plan, you’re doing it right.

The executive summary should be about a page long. It should cover:

Overview . Briefly explain what the company is, where you’ll be located, what you’ll sell, and who you’ll sell to.
Company profile. Briefly explain the business structure, who owns it, what prior experience/skills they’ll bring to the table, and who the first hires might be.
Products or services . Briefly explain what you’ll sell.
The market. Briefly explain the main findings from your market analysis and the product market fit .
Financial considerations . Briefly explain how you plan to fund the business and what your financial projections are.

Featured Resource: Executive Summary Template

On the marketing side, you’ll want to cover answers to questions like:

How do you plan to penetrate the market?
How will you grow your business?
Which channels will you focus on for distribution?
How will you communicate with your customers?

Marketing trends change year after year, so be sure to keep up on the latest trends by subscribing to the Hubspot Marketing blog .

Pro tip: Samar Owais, Founder of Emails Done Right , shared her top advice: “Never stop marketing. You don‘t have to use every marketing strategy, tactic, or medium out there but you do have to market consistently. Pick 1-3 things that work and don’t stop doing them even when you're over capacity.”

On the sales side , you’ll need to cover answers to questions like:

What’s your sales strategy ?
What will your sales team look like, and how do you plan to grow it over time?
How do you plan to scale for growth ?
How many sales calls will you need to make to make a sale?
What’s the average price per sale?

Speaking of average price per sale, you’ll want to go into your pricing strategy as well.

Featured Resource: Marketing & Sales Alignment Template

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Correcting the owner name in online forms

Avoid delays and fees.

The trademark owner is the legal entity that owns the trademark. You can correct minor errors in the owner name. To avoid delays and fees, read the general instructions below when you need to correct the owner name.

If you change the owner name that appears in any Trademark Electronic Application System (TEAS) form without explaining why or recording an assignment, if required, you may receive an office action, and your application or registration processing will be delayed until you respond. You might also be required to pay additional fees.

Learn more about about assignments and ownership changes to understand the most common types of ownership changes and how to properly notify the USPTO of each type.

Use any form you need to file in TEAS

If you are filing a form with us during the application process, such as a Response to Office Action or a Statement of Use, you can correct the owner name at the same time. In the Owner Information section of the form you are filing, the Name field will show the current owner listed in the trademark database. If you need to correct this name because it contains a minor error, and ownership is remaining the same, check the appropriate box on the form. Enter the corrected name. Then you must fill out the Miscellaneous Statement section of the form to explain why you need to correct the owner name. Use these directions to make the following types of modifications:

Changes to correct minor errors in the owner name
Changes to correct mistakes in legal entity information

If your trademark has registered, you can correct the owner name as described above. To update the corrected name in the Trademark Status and Document Retrieval (TSDR) system, you must also file the TEAS Section 7 Request form .

If you don't need to file another form

If you wish to correct the owner information and you do not need to file a response or other required submission, the form you use to request a correction to the owner name will depend on the status of the application or if the mark is registered.

If your trademark has not published in the Trademark Official Gazette, use the TEAS Voluntary Amendment form .
If your trademark has published but hasn't registered, use the TEAS Post-Publication Amendment form .
If your trademark has registered , use the TEAS Section 7 Request form .

In the Owner Information section of the form you are filing, the Name field will show the current owner of record listed in TSDR. If you need to change this name because the owner changed or the owner had a legal name change, check the appropriate box on the form and enter the new name. You must also record an assignment using Assignment Center . See our how-to guide for trademarks on using Assignment Center.

Use these directions to make the following types of modifications:

Changes resulting from assignments, mergers, or other legal changes of ownership.
Changes to reflect a legal name change that occurred after the application was filed

If your name was John M. Doe before you filed the application, check the box to indicate you want to correct the owner name that appears, then enter John M. Doe in the Name field. In the Miscellaneous Statement field later in whichever form you are filing, explain that you mistakenly entered John Doe in the initial application, and you want to correct the owner name in the application or registration record to John M. Doe.

I thought the legal name of the owner was ABC Corporation, but the actual name is The ABC Corporation.

Check the box to indicate you want to correct the owner name that appears, then edit the name to add "The." In the Miscellaneous Statement field later in the form you are filing, explain that you mistakenly left out "The" in the initial application and you want to correct the owner name in the application or registration record to "The ABC Corporation."

I need to change the spelling of the owner name from Mark to Marc because it was entered incorrectly in the initial application. Will I receive an office action?

No, you will not receive an office action when editing the owner name to correct this kind of minor error. Check the box to indicate you want to correct the owner name that appears, then enter the correctly spelled name. In the Miscellaneous Statement field later in the form you are filing, explain that you mistakenly entered Mark in the initial application and you want to correct the owner name in the application or registration record to Marc.

I had a legal name change before I filed my application, but I mistakenly filed my application under my former name.

Check the box to indicate you want to correct the owner name that appears, then enter your current legal name in the Name field. In the Miscellaneous Statement field later in the form you are filing, explain that you mistakenly entered your former name and you want to correct the owner name in the application or registration record to identify the correct legal name.

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IMAGES

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ASSIGNMENT Front Page Format.doc
10 Wait to Come Up With a Catchy Business Name
5100+ Business Name Ideas (Examples + Generator)
370+ Investment Company Name Ideas And Suggestions

VIDEO

Module 1 Assignment- Business Communications
Business Negotiation
GROUP ASSIGNMENT BUSINESS STATISTICS: DATA VISUALIZATION WITH TABLEAU
HOW TO DECIDE GREAT BUSINESS NAME #businessnameideas #businessname #buisnessidea #businesstips
How to choose Business Name #startup #businessname #cs #business #trademark #founder #legal #yt
Performance Evaluation Assignment

COMMENTS

Business name change
Write to us at the address where you filed your return, informing the Internal Revenue Service (IRS) of the name change. Note: The notification must be signed by the business owner or authorized representative. Corporation. If you are filing a current year return, mark the appropriate name change box of the Form 1120 type you are using:
How to Transfer a Business Name
3. Complete the business name transfer form by listing the business name to be transferred and the name and contact information of the current business name owner. Then list the same information ...
Free Assignment of Trade Name Form
To create an Assignment of Trade Name, complete the following steps: 1. Provide assignor and assignee information. List the names and addresses of both the assignor and assignee. Generally, you should use a party's legal name. If you're assigning a trade name to a business, use a business address, if possible.
What is a Fictitious Business Name (DBA) and Why Do You Need One?
As a business owner, choosing the right company name is one of the most important items on your to-do list when you launch a new business. It's right up there with opening a business bank account, setting up a company website, and establishing business credit.. When you use a company name that doesn't match the legal name on your tax returns, you're using what's known as an assumed ...
The Complete Guide to Registering Your Business Name
When registering an LLC, for example, your business name must include a term such as "L.L.C.," "limited company," or similar in the title. 2. File paperwork and pay fees. This generally includes writing what is called your "articles of organization," which describes your business's purpose, and your operating agreement.
Overview of Business Name Assignment Agreement
A Business Name Assignment Agreement is generally a one-sided basic short-form agreement in favour of the assignee. It confirms that the assignee will be the legal owner of the business name. The name being assigned can be a registered or unregistered business name, domain name or a trademark. If some of the rights are not assignable for any ...
IRS Name Changes for Businesses in Just a Few Steps
IRS name changes for businesses. When you file your business taxes, the IRS uses your EIN and business name to identify your business. If you decide to change your business name, an authorized individual will need to submit a name change. An authorized individual is someone who has legal authority to act on behalf of the business.
Choose your business name
Once you settle on a name you like, you need to protect it. There are four different ways to register your business name. Each way of registering your name serves a different purpose, and some may be legally required depending on your business structure and location. Entity name protects you at a state level. Trademark protects you at a federal ...
Legal Names Versus Trade Names in Business
A business's legal name is the official name that appears on government and legal forms. A business's trade name is what it presents to the public. Businesses use trade names for advertising and sales purposes. A business name is a valuable asset. It helps potential customers find a company and understand its purpose.
How to Name a Business: 7 Simple Rules
How to name a business: 7 keys to remember. Taylor, whose company gives marketing advice to small businesses, offers these tips for coming up with a company name: Make it short. "Remember, your ...
How to Name a Business: Steps to Take + Guidelines
How to Name Your Business. Use a structured, disciplined approach to develop a list of potential names for your business. Don't rely on a gut feeling. Engage in market research, talk to potential customers, solicit feedback from friends and family and continue iterating until you find the name that sticks.
Assignments: The Basic Law
Assignments: The Basic Law. The assignment of a right or obligation is a common contractual event under the law and the right to assign (or prohibition against assignments) is found in the majority of agreements, leases and business structural documents created in the United States. As with many terms commonly used, people are familiar with the ...
Assignment of Trade Name
Simply complete the Trade Name Assignment form below then click on View Results to see your completed contract. LegalContracts' Trade Name Assignment: Is used to legally transfer all rights to a trade name from one party to another. Can be used for registered or unregistered trade names. Is an easy to use, inexpensive alternative to hiring a ...
Trademark assignments: Transferring ownership or changing your name
The assignment was not transferred with the good will of the business. USPTO trademark database will be automatically updated after recordation. Once recorded, the trademark database should reflect the new owner information or name change. Check the Trademark Status and Document Retrieval (TSDR) system to see if the owner information has been ...
How to Come Up With a Business Name: The Perfect Checklist
6. Check the thesaurus. Take the words you've come up with so far in your brainstorm, like emotions and core values, and plug them into the thesaurus. There are dozens of cool, fancy, and fun to say words that make great business names. Take the word "bravery," for example.
The Complete Guide on How to Name a Business
The name is only part of your brand identity. A memorable business name is essential. But your brand identity is much more, including your company logo, business website, and more. Don't expand your name to tell your company's full story. You'll need to build a complete brand identity. 15. Set a time limit.
TNTM
Customers are advised to seek legal counsel in the event of a name conflict. The Secretary of State is a filing agency and not authorized to resolve legal matters involving trade name conflicts. If you have any questions, please call us at 602-542-6187 or 1-800-458-5842 or.
Registering a business name
Other ways to register a business name. ASIC Connect - If you already have an ABN, you can apply for a business name directly with us by using ASIC Connect. Private service provider - You can choose to register or renew your business name with a private service provider (PSP). This could be your accountant, your solicitor, or another business ...
ASSIGNMENT OF BUSINESS NAME Sample Clauses
Assignment of Agreement The following conditions must be satisfied in order to effectuate any assignment of this Agreement: Trade Name "Capital One Auto Receivables, LLC" is the only trade name under which the Seller is currently operating its business. For the six (6) years (or such shorter period of time during which the Seller was in ...
Transferring Business Interests into a Trust
However, you can transfer your portion of the business interest to a Trust as long as you secure a document of transfer, sometimes called an Assignment of Interest. This document will state that you are choosing to transfer your portion of the interests over to a Trust. It will be important to also give a copy of this document to your partners ...
How to Start a Business: A Startup Guide for Entrepreneurs [Template]
1. Write a business plan. Your business plan maps out the details of your business and how you plan to run it. Yet, with 70% of entrepreneurs starting their business out of a need for a lifestyle or career change and 26% out of passion or a great idea, many don't take the time to create a business plan.
Correcting the owner name in online forms
If you need to change this name because the owner changed or the owner had a legal name change, check the appropriate box on the form and enter the new name. You must also record an assignment using Assignment Center. See our how-to guide for trademarks on using Assignment Center. Use these directions to make the following types of modifications:
268 Catchy & Creative Business Name Ideas
Here are some epic business name examples: Atlantis Sports Club & Spa. Atlantis is a legendary utopian civilization. Saga Innovations. A saga is a long story of heroic achievement. Atlas Ventures. Atlas is the Greek god of endurance and strength. Titan alarm. Jarvis Surgical.

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Forms & Instructions

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Individuals topics

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How to Legally Register for Your Business Name

Registering your LLC or LP:

Create a professional business plan

Registering your nonprofit:

Registering your corporation:

2. File a DBA (or “doing business as”)

But what if it doesn’t have the right ring to it?

When to use a DBA:

How to apply for a DBA:

What’s the difference between a trade name and a trademark?

Become a smarter, more strategic entrepreneur.

The quickest way to turn a business idea into a business plan

Rajah Lehal

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IRS Name Changes for Businesses in Just a Few Steps

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Table of Contents

When a business should file an IRS name change

Do you have to notify the IRS if you change your business name?

Will you need to apply for a new EIN?

SSA name change for individuals

When you’ll need to file a SSA name change

Will you need to apply for a new Social Security number (SSN)?

What if you need to change your address, too?

Does an IRS name change cost money?

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Make sure you can use it

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Create Your Own Store and Start Selling Today

Why Your Business Name is Important

It is the first thing customers see.

It sums up everything about your business.

It is your unique position in your industry.

Types of Business Names

Descriptive names.

Suggestive names.

Arbitrary names.

Acronyms/initialisms.

Names based on other languages.

How to Name Your Business

Brainstorm business names.

Do a word dump

Use a thesaurus

Use a name generator.

Make a list of the best business names.