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What is a trade name in a business

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What is the difference between trade name and business name?

A business can opt to have their business name and trade name be the same. A trade name may also be called a doing business as (DBA) name. It’s the name the public sees. … Businesses may use their trade or DBA name for marketing and sales purposes instead of their legal business name to help draw in more customers.

What is an example of a trade name?

A trade name is generally considered the name a business uses for advertising and sales purposes. A trade name is sometimes referred to as a “fictitious” or “doing business as (DBA)” title. For example, “McDonald’s” may be the trade name, but the legal name is “McDonald’s Corporation.” A trademark is a brand name.

How do you create a trade name?

How to Register a Trademark for a Company Name

  1. To register a trademark, go to the U.S. Patent and Trademark Office’s Web site, www.uspto.gov.
  2. Don’t add a domain extension to your trademark to prevent others from registering the same name by adding another extension.

What is the difference between a trade name and an LLC?

The LLC name, or legal name, is the official name of the entity that is used to sign documents, file tax returns, file lawsuits, or to submit a loan application with a bank. On the other hand, a business name, or trade name, is the name the public uses to identify your business.

Does an LLC need a trade name?

LLCs are not required to have a trade name. However, many choose to use one. A trade name is also known as a fictitious name or DBA (doing business as). This name is the one the company does business under if it does not use its actual or “legal” name.

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How much is a trade name?

If you operate as a sole proprietorship or partnership, you can register your business name as a trade name, also known as a fictitious business name, a “doing business as” name, or a DBA. In some states, you can register your name statewide by filing a form and paying a fee that typically ranges from $50–$150.

What trade name means?

A ‘trading name’ refers to an unregistered name that businesses could use before the introduction of the National Business Names Register on 28 May 2012. A trading name is not a registered business name. If you wish to continue using a trading name, you need to register it as a business name.

How do I create a unique business name?

  1. Use acronyms. A lot of major companies use acronyms instead of their full names – it’s easier to remember. …
  2. Create mash-ups. …
  3. Draw inspiration from mythology and literature. …
  4. Use foreign words. …
  5. Use your own name. …
  6. Take a look at a map. …
  7. Mix things up. …
  8. Partner with another company.

Can two businesses have the same name?

The name of a company is not necessarily a trademark, so you are conflating two different concepts: A company name is the legal identity of the company, like your name is for you. … In general, within the same jurisdiction, you cannot have two company names that are the same.

Should I copyright my business name?

If you are using your business name as your trademark, you can also register your business name as a trademark. Registering your trademark will give you exclusive rights to it in Canada for at least 15 years (you can renew it indefinitely as long as it is still being used).

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What is the first step to starting a business?

  1. Conduct market research. Market research will tell you if there’s an opportunity to turn your idea into a successful business. …
  2. Write your business plan. …
  3. Fund your business. …
  4. Pick your business location. …
  5. Choose a business structure. …
  6. Choose your business name. …
  7. Register your business. …
  8. Get federal and state tax IDs.

How do I choose a name for my business?

How to choose a name for your business

  1. Be descriptive but not too general or vague. Don’t choose a name that is too vague or too meaningful. …
  2. Use related words in a creative way. …
  3. Keep it simple. …
  4. Don’t copy your competitors. …
  5. Avoid using your own name. …
  6. Choose a name that’s scalable. …
  7. Make sure you have a related domain.

Can I use the word company in my business name?

Most states will not allow a business to:

Use a word that implies a company is a government entity (e.g., Federal, United States, etc.). Use a business name that misleads the public to believe the company provides something it does not.

Does an LLC protect my business name?

Once your LLC or corporation application is approved, your name is protected in the state: No other business will be able to form an LLC or corporation with the same name in that state. However, there’s nothing to stop a business that operates as a sole proprietorship or partnership from using your name in the state.

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