You asked: How do you legally own a business name?

How can I make my business name legal?

Registering a trademark for a company name is pretty straightforward. Many businesses can file an application online in less than 90 minutes, without a lawyer’s help. The simplest way to register is on the U.S. Patent and Trademark Office’s Web site, www.uspto.gov.

Do you need to register a business name if it’s your own name?

You need to register a business name if you conduct business under a name other than your own. A business name, also known as a trading name, is a name or title under which a person, or other legal entity, carries on business. When you register a business name, you register it nationally.

Can I start a business without registering it?

You are allowed to operate a sole proprietorship without registering, but you are required to register with your local government to collect and file state taxes. There is nothing wrong with running an unregistered business as long as your business is legal and meets all licensing and tax requirements.

How much does it cost to copyright a name?

The cost to trademark a name at the federal level ranges from $225 to $400 plus legal fees or $50 to $150 for a state trademark. The average cost to trademark a logo is $225 to $600 plus any legal fees.

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Can I use my initials as my business name?

While experts advise against using initials as a business name, they do urge you to consider the acronym. Your customers may refer to your company by an acronym since it’s sometimes easier to remember and convey to others—a carefully planned name safeguards against an embarrassing or destructive acronym.

How much does it cost to register a business name?

In most cases, the total cost to register your business will be less than $300, but fees vary depending on your state and business structure. The information you’ll need typically includes: Business name.

What is the benefit of registering a business name?

Registering your company gives you the ability to borrow and incur debt but more importantly, sell shares and raise equity capital. If you had any other business structure, then you would need to pay taxes on your personal income tax statement even if that money is staying in the business.

What are the consequences of not registering a business?

Effects of Non-registration

  • No suit to enforce rights under the Act. …
  • No suit to enforce rights against any third party. …
  • No proper relief. …
  • Partners cannot bring legal action against each other. …
  • Powers which are given to the unregistered firms.

Do you need an LLC to start a business?

You don’t need an LLC to start a business, but, for many businesses the benefits of an LLC far outweigh the cost and hassle of setting one up. … You can also get those things by forming a corporation or other type of business entity. It’s also perfectly legal to open a business without setting up any formal structure.

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