Trade names are also referred to as ‘operating-as names’ or ‘doing business as names’. These business licenses allow your corporation to operate using a name that is different than the full corporate name. Corporations must operate business under their full legal names as they are registered.
Is a trade name a sole proprietorship?
A sole proprietorship can operate under the name of its owner or it can do business under a fictitious name, such as Nancy’s Nail Salon. The fictitious name is simply a trade name–it does not create a legal entity separate from the sole proprietor owner.
What is the difference between legal name and trade name?
A legal name is the name of a person or entity that owns a business. 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.
What are some purposes of a trade name?
The purpose of a trade name is for state officials to know what companies are operating within the state’s borders. This is generally for tax purposes, although it’s also useful to keep track of companies that offer goods or services in each state. However, legal protection on trade names varies amonn states.
What are the 3 main types of business ownership?
Business ownership can take one of three legal forms: sole proprietorship, partnership, or corporation. It is important to select the most appropriate form of ownership that best suits your needs and the needs of your business.
What is personal name and trade name?
(a) Personal name: Uses the name in the identity card. This category does not need to be reviewed for approval. Example Ruslan Bin Mohamad, Lee Yng Fei and Sharmila A/P Avaniappan. (b) Trade Name: The proposed business name needs prior approval of the Registrar of Business, Companies Commission of Malaysia (SSM).
How do you protect a trade name?
Protect Your Brand Name in 5 Steps
- Register your domain name. Domain names are an important part of any business brand today.
- Trademark your business name and logo.
- Use your brand.
- Monitor your brand.
- Deal with infringement immediately.
Can a business use a trade name instead of a business name?
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. If you want to operate under a different name than your legal business name, register a trade name for your company. Every state and county has different rules for registering a DBA.
Which is the best definition of a trade name?
A trade name, trading name, or business name is a pseudonym frequently used by companies to operate under a name different from their registered, legal name. The term for this type of alternative name is a “fictitious” business name.
What happens if you only register a trade name?
If you only register your trade name, you won’t have the same legal protection against another company using your mark or even your company name. For example, say you opened a business called PROTEX, LLC. The first step is registering the company name in the state where you do business.
What do you call a fictitious trade name?
Registering the fictitious name with the relevant government body is often required. In a number of countries, the phrase ” trading as ” (abbreviated to t/a) is used to designate a trade name. In the United States, the phrase ” doing business as ” (abbreviated to DBA, dba, d.b.a. or d/b/a) is used, among others,…
