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.
Citizen Staff Reports 04/16/2015
Last summer, hundreds of Anthem LemonAid stands dotted Central Virginia and raised more than $100,000 in support of cancer treatment and research at Children’s Hospital of Richmond at VCU (CHoR). This July 17-19, Anthem is inviting community members to host an Anthem LemonAid stand in support of the children who are battling the disease. During the past 13 summers, Anthem LemonAid has raised more than $1 million. All funds raised support the Hematology and Oncology Clinic at the Children's Hospital of Richmond at VCU.
Anthem LemonAid is Children’s Miracle Network Hospitals’ signature summer event. It’s free to participate and is designed for children, families, community groups and businesses alike. > Read more.
Citizen Staff Reports 03/30/2015
The Henricopolis Soil & Water Conservation District will sponsor a tree seedling giveaway on April 2 at Dorey Park Shelter 1 from 2:30 p.m. to 6:30 p.m. and on April 3 at Hermitage High School parking lot from 8:30 a.m. to 1:30 p.m. Bare-root tree seedlings are available to Henrico County residents free of charge for the spring planting season.
The following seedling species will be available: apple, kousa dogwood, red maple, river birch, red osier dogwood, loblolly pine, sycamore, bald cypress, white dogwood and redbud. Quantities are limited and trees are available on a first-come, first-served basis. Each participant is allowed up to 10 trees total, not to include more than five of the same species. > Read more.
Citizen Staff Reports 03/30/2015
Wondering where to go to play Bingo? Wonder no more.
The Virginia Department of Agriculture and Consumer Services (VDACS) recently launched an online directory of permitted bingo games played in Virginia. Listed by locality, more than 400 regular games are available across the state. The directory will be updated monthly and can be found on VDACS’ website at http://www.vdacs.virginia.gov/gaming/index.shtml.
“Many Virginia charities, including volunteer rescue squads, booster clubs and programs to feed the homeless, use proceeds from charitable gaming as a tool to support their missions, said Michael Menefee, program manager for VDACS’ Office of Charitable and Regulatory Programs. > Read more.
It’s that time of year – charity races are popping up everywhere! On Saturday, St. Joseph’s Villa will be the site of the sixth annual CASA Superhero Run and the fifth annual Richmond Free to Breathe Run/Walk will be held in Innsbrook. Also in Innsbrook, the 2015 Richmond Take Steps for Crohn’s and Colitis will take place on Sunday. If you’re more into relaxation than exercise, check out Wine for Cure’s Dogwood Wine Festival or the Troubadours Community Theatre Group’s production of “West Side Story” at the Henrico Theatre. For all our top picks this weekend, click here! > Read more.
There are several fun events this weekend taking place outside including the third annual Virginia Firefighter Games at Short Pump Town Center; Twin Hickory Park’s “April Showers: A Celebration of Spring” event; the Young Life Richmond West 5k in Innsbrook; and the Gold Festival on Broad which benefits Prevent Child Abuse Virginia. Fingers crossed for no rain! For all our top picks this weekend, click here! > Read more.
The University of Richmond will host its annual Global Family Concert this weekend – a free, family friendly concert featuring Japanese, Indonesian, West African, Indian, and Brazilian music and dance performances. Country music fans can head to The Cultural Arts Center at Glen Allen for “An Evening of Country” featuring The Honky Tonk Experience. Enjoy the spring weather at Meadow Farm for “Sheep to Shawl” or join the Henrico Hiking Club at James River Park. For all our top picks this weekend, click here! > Read more.
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