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How to change a company name?

Why change a company name?

 

A business owner generally amends an existing business name due to the following reasons:

 

  1. The existing business name is not representing the core product or services or irrelevant to the business description.
  2. The company name is conflicting with the competitor's company name, and it is asked to take the name off to avoid a legal action.
  3. The existing business name is rejected by the U.S.P.T.O  due to unavailability of the trademark name.
  4. The business name is not easy to remember and say effortlessly.
  5. The domain name is not available to create a website.
  6. Simply, a business owner does not like it and just want to change, may be too long or too short, or the meaning is not meaningful.

 

Company Name Change Vs DBA:

 

  • A DBA does not provide a legal protection, whereas a company name change does.
  • A DBA is an add on name under a legal entity, whereas a company name change is a replacement of an existing company name.
  • Multiple companies are allowed to use a dba name in a same state, whereas the secretary of state requires a distinguish name to register an entity.
  • A dba name is registered with the county clerk's office in most states, whereas a company name change files with the division of corporation of the state whereas the original article files.

 

What is the process to change an existing business name?

 

An article of amendment is filed with the secretary of state to change a business name. Generally, there is a filing fee involved, that depends upon the state where the company name change process is being proceeded.

 

A business owner makes sure not to repeat the same mistakes that compel him/her to do the same exercise again.

 

What are the advantages and disadvantageous to change an existing business name?

 

  1. The biggest disadvantage is losing all the credibility that was created in years.
  2. The new company name needs a boost or optimization all over again to make it prominently visible online.
  3. A notification is sent to the licensing departments and the Internal Revenue Service to update on the official documents.