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BUSINESS BUYER
TIP
Name Your
Business
Article courtesy of the
U.S.
Small Business Administration
(SBA)
There is more to naming your business than just
coming up with something that sounds good and you happen
to like. Thought must be given to state and local
requirements and making sure you don’t infringe upon the
rights of someone else’s business name.
Legal Requirements And
Implications
Picking a name for your
business requires much more than just creativity and a
working knowledge of your target market. First you'll
need to decide which business structure you will use,
since each structure has its own peculiarities. For
example, many states require a sole proprietor to use
their own name for the business name unless they
formally file another name as a trade name, or
fictitious name. Similarly, you will need to determine whether
your trade name will be the same as the full legal name
of your business. Of equal importance is finding out
whether your name or a very similar name is being used
by another business, and if so, what rights they may or
may not have to use the name in the area where you do
business. Keep in mind that some businesses only file
trademarks within their locality, so it's possible that
the same name can be used elsewhere.
Search And Registration
Trade
names can be registered through state Secretary of State
offices, and for wider marketplace protection, through
the U.S. Patent and Trademark Office (USPTO Trademark
Search). Businesses should first use the USPTO's online
system to search all state and federal trademark
registers to see if their proposed name is being
used.
Domain Names
For many
businesses that operate on the Web, trade names are
synonymous with domain names, such as Amazon.com and
Monster.com. Domain names are not registered through
state or local government; rather they can be obtained
through numerous online businesses, most of which will
allow you to conduct a name search prior to purchase to
make sure your chosen name isn't taken.
Remember, creating a winning business name takes
some thought but is one of the most important things
you’ll do during the process of starting a business.
Take your time and make sure you do your
homework!
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MONTH
Vehicle
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Capital
Required: $60,000 Capital
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Support/Training Available
Vehicle Tracking Solutions sells, installs
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VTS is
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CTR
 BUSINESS OF THE
MONTH
TowerCam
Real Estate Photography
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Asking Price:
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Year
Established: 2006
TowerCam
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