Should You Name Your LLC After Yourself as a Digital Specialist?
- July 27, 2022
- No Comment
When a digital specialist makes the decision to incorporate their business and establish an LLC, their first step in taking the business formation process is to create a name for their future company. Regardless of whether you choose to file an LLC on your own or use one of our LLC formation services, it is impossible to incorporate a corporation without a name.
While incorporated business forms are automatically named after their owners, LLCs can use different business names chosen at the business establishment stage, although you still have the opportunity to give the LLC your own name. How do you choose a name for your future project? Should you use your name to work? Let’s find out.
Naming your LLC formation
Completing the paperwork is considered by many digital professionals to be the most difficult part of incorporating an LLC, but choosing a business name is also a critical step because if the Secretary of State does not accept a proposed LLC name, they will refuse to register the entire company. the LLC. At this point, naming your company is not so simple anymore, is it?
Therefore, even if you are going to start your business with the help of the best LLC service (here you can find information about the best-rated LLC formation companies by LLC services), you must first find a business name for your company and check with the state using the name lookup tool on the Department of State website or let your designated attorney or LLC service do it for you.
Creating a name for your LLC is mostly up to your imagination, and it can be just about anything you want. However, there are still certain rules to follow when modifying name versions for your next business:
- An identifier that clearly indicates your type of business entity, i.e. “Limited Liability Company” or its abbreviations LLC, or L.L.C. is essential. , or ltd. they are a mandatory part of your company name;
- Words that refer to any other business model or that cause ambiguity are not allowed. They are words like company, bank, credit, insurance, etc.;
- The company name must relate to its business purpose, without reference to any other activities other than the permitted activities. In the event that some academic or scientific titles are mentioned in your company name, additional documents and permits will be required.
The main common rule for an LLC name is exclusivity. Not only should the last name be creative and catchy, but it should also not be similar to any other names already registered in the formation case. Therefore, it is essential to search the government business name database before filing an LLC. Also, it’s a good idea to use the required business name in Google to ensure it’s not used as a trademark or trade name in other states.
While the state requires your LLC name to be unique and distinctive, you want it to be memorable and recognizable. So before you make a final decision on your business name, take a look at our quick tips on how to come up with the name that really works for your business:
- Domain Name Availability Check – In the age of digital technology, being online is essential. And a domain name that is similar to or very close to your business name will improve your business recognition;
- Try to come up with a name that stands out – catchy and creative names are easy to remember and become buzzwords, not to mention this name will make your LLC stand out from the crowd;
- Don’t overdo it: you can be eccentric, sophisticated, and even elaborate, but avoid very long names that have heavy structures and complex words. keep it short and easy to pronounce;
- Stay away from famous company names and famous giants: Global companies like Amazon, Google, Apple, and McDonald’s strongly protect intellectual property rights and can sue you if your LLC name resembles some of their brand names.
Pros and Cons
In the business formation stage, you have high hopes, aspirations, and plans for the future prospects of your LLC. And of course, you want the best title for your business project. Here, some entrepreneurs try to be creative and create something special, while others choose an easier path and simply give their companies their own names. Is this the way to go for you too? When choosing a name to form an LLC, consider the pros and cons of naming the business after yourself.
- Simplicity: This is an obvious advantage because sticking with your name will save you a lot of time, effort, and guesswork when messing around with multiple name options, leaving no room for confusion;
- Personal associations: An LLC bearing the name of its owner is directly related to this person. The brand name is immediately associated with you and your business;
- Authenticity – There is almost nothing more authentic than your name, especially if you are introducing some new product, service, or approach to the market.
- Improve Customer Communications – You are your business, and by sharing your name with your LLC, you let your potential customers know who they will be working with from the start.
- Lack of Uniqueness: Forming an LLC requires unique and distinct business names; however, your name may not meet this requirement. Also, a popular and extended name will not distinguish you from the competition;
- Name Changes: Personal names may change, this is normal. However, changing the company name is not that simple and obviously not good for business as you will have to rebuild your brand and reputation;
- The Limiting Factor to Growth: When you become the center of your business, you connect your business in some way because customers will be interacting and collaborating with you instead of your business entity. This can become a limiting factor in the future growth of your company when you prefer to be a supervisor and allow your LLC to operate on your own.
Also, it should be noted that naming the business after its owners is not the best option for multi-member LLCs, as each member seeks to see their name as part of the business title, which can cause controversy and conflict.
Other Steps to Form an LLC: Incorporation Services to Help
Once you have decided on the name of your future company, you can continue with other steps to finalize the establishment of your business and finally allow your company to embark on a great journey:
- Find and appoint a registered agent;
- Drafting and submitting articles of organization to the Secretary of State;
- Provide a public notice in a local newspaper, if necessary;
- open a business bank account;
- Select your tax method and system.
Although there seemed to be nothing special about these steps, a number of pitfalls and pitfalls arose, not to mention legal formalities and routines. To allow you to focus on business and get away from routine tasks, you can easily delegate your business setup to LLC formation services.
Top-rated companies not only offer a highly professional service in online LLC formation, but they also offer a host of helpful add-ons to get your business on the right track and keep it serious after incorporation.
Read More News Updates Visit our Site InsightFello.