Deciding on the perfect name for a startup business is an important step. But why risk taking time to carefully pick a strong name for a target market only to find it is already in use?The Small Business Administration reminds entrepreneurs that there are local and state requirements about corporate names that need to be considered during business formation. While these requirements will be specific to a given area, the SBA offers some general tips on the naming process.
Each business structure has its own set of rules. The decision to form a limited liability company versus an S corporation could predetermine the types of names available for a company. Additionally, many states require sole proprietors to use their own names for a business.
Moreover, if a business will operate on the web, entrepreneurs will need to obtain a domain name. These can’t be bought from state or local governments; instead, they are obtained through online services.
Instead of competing with an existing company or – perhaps worse – incurring state and local suits, entrepreneurs can seek incorporation services that offer free name checks.