The Entrepreneur’s Corner
What's in a (business) name?
A business name is important. It can tell the public what you offer, it can distinguish the business from others and it can cause the business owners problems if not carefully considered.
Many new business owners spend a great deal of time thinking up their business names without clearing the name before using it and then not properly using it once they get going. A business name is the commercial name a business uses and it may not be the same as the name of the corporation or limited liability company that owns the business.
A few simple checks can help relieve a business owner from name problems in the business down the road.
The first thing a business owner should check is whether the name is available for use as a name for a business entity at the Virginia State Corporation Commission. If the chosen name is not available, keep trying until you have a name that you can use.
The exact name of the business entity, including the “Inc.” or “LLC” at the end, is the name of the entity and the name that has to be used if nothing else is done. These endings are what inform customers that they are not dealing with an individual, but a business entity when they do business with you.
Many people drop the Inc. or LLC and do not realize that by doing that, they individually are using the name and that the corporation or LLC is no longer involved in the business.
The business name should also be checked for violations of another’s trademark rights before using it. This can be easily checked online at the Patent and Trademark Office for federal trademarks and at the State Corporation Commission for state trademarks.
How does a business use just the good part of its name without the Inc. or LLC and how do multiple businesses use the same name, like in a franchise system? This is done by filing what is called a Certificate of Assumed Name – a fairly simple document that says what the business entity’s true name is, what name it wants to use in business and the address at which it will use the name.
This document gets filed at the Circuit Court in the jurisdiction where the business is located and a certified copy of that filing gets filed with the State Corporation Commission.
That way, members of the public can know that the McDonalds at a certain address is really owned by a franchisee called XYZ, LLC and not McDonalds Corporation. All of this information is available publicly, so everyone is considered to have access to it.
Henrico County Recreation and Parks will present “Red, White, and Lights” at Meadow Farm Museum/Crump Park July 4.
Henrico County has hosted a Fourth of July celebration annually since 1981, but this year’s event will offer a later start time and expanded hours and be highlighted by new entertainment.
The free event will begin at 4:30 p.m. and will feature the Richmond Symphony, a laser-light show, patriotic performances, and family activities. > Read more.
The Tuckahoe Family YMCA and ReEstablish Richmond will host the third-annual Refugee Community Resource Fair Saturday, June 18, from 10 a.m. to noon at the YMCA, 9211 Patterson Avenue in Henrico. The event is designed to provide refugees in the region information about jobs, local businesses, housing, health care, education and more.
As part of its strategic plan, the YMCA of Greater Richmond works to identify, address and eliminate economic, geographic and cultural barriers. > Read more.
Celebrate Independence Day in Henrico! The county’s annual event is new and improved this year with a later start time, expanded hours and new entertainment, including the Richmond Symphony and a laser light show. Lewis Ginter is also offering free admission all day. On Saturday, check out the first annual Innsbrook Taste of Virginia, the family movie at Varina Library or Anthony Snape and special guest Jess Labus at The Tin Pan. For all our top picks this weekend, click here! > Read more.
- More News
Jun. 16, 2016Click here to read the print edition.
- More Entertainment
- More Obituaries
- More Community
- More Opinions
- More Sports
CalendarLewis Ginter Botanical Garden will host its annual CarMax Free Fourth of July celebration from 9 a.m. to 5 p.m. All visitors will receive free admission throughout the day. Activities… Full text