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.
Thanks in part to a $10,000 gift from the Western Henrico Rotary Club, another bright pink Jeep modified to travel extremely rough terrain has been delivered to Midwives For Haiti so that more pregnant women in the quake-ravaged country will have access to prenatal care and a greater chance of surviving childbirth.
The funds were raised at the annual casino night held in February, club president Adam Cherry said. The Rotary Club also helped purchase the Virginia-based charity’s first pink jeep three years ago. > Read more.
Canoeing and kayaking enthusiasts soon will have a new access point to the Chickahominy River. VDOT, the James River Association and Henrico County Parks and Recreation are teaming up to establish a new site in Eastern Henrico.
The James River Association negotiated the deal with VDOT to procure official access to the area located just east of I-295 on North Airport Road in Sandston. The site includes a park-and-ride commuter lot bordering the Chickahominy River and has been an unofficial launch site used by paddlers for years. > Read more.
An eclectic array of events are taking place this weekend throughout the county. In the West End, we have the Richmond Wedding Expo, the Under the Stars Family Film Series and Henrico Theatre Company’s production of “Pump Boys and Dinettes.” In the eastern part of the county, we have a blood drive at the Eastern Henrico Recreation Center, Gallmeyer Farm’s annual Sweet Corn Festival and an origami workshop at Fairfield Library. For all our top picks this weekend, click here! > Read more.
A Henrico native will appear on the third episode of the Travel Channel's new grilling competition series “American Grilled.”
The episode, filmed in Charlottesville, will premier July 16 at 9 p.m. and feature Glen Allen-native Rex Holmes, a patent lawyer who operates http://SavoryReviews.com a blo,g centered around tasty recipes and BBQ.
The show features hardcore grilling enthusiasts from across the country going head-to-head for a chance to compete for a $10,000 cash prize and bragging rights when they are crowned the ultimate “grill master.” > Read more.
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