What is a business without a name? Some of the biggest business names world-wide conjure up products or services that are, “household names.” In fact, it could be said that name recognition is a cornerstone of a successful business enterprise in Colorado. Therefore, it is important to choose a name that is unique.
After doing market research and with a little creativity, business owners can decide on a name that fits their new enterprise to a tee. However, once a name has been chosen, business owners may need to register it with certain agencies, to protect it.
There are four ways business owners can register the name of their business. Registering a domain name protects the business’ website address. Registering the name as a trademark provides federal protection. Registering the name as an entity provides protection at a state level. And, while registering a business name as a Doing Business As (DBA), does not actually protect a business in a legal manner, it still may be required by law.
By registering a business’ name, business owners can rest assured that their business will have the legal protection needed should another business try to appropriate their name. Having a unique name is essential to doing business, so it is important that once a name is decided, it is not copied by others nor does it copy an already existing business name.
Of course, business owners looking to register their new business’ name will want to make sure they do so the right way the first time around. Mistakes made during the business formation process could be costly, both in time and money. Therefore, business owners deciding on a name for their new business will want to make sure they understand the processes they must go through to fully protect their name once decided upon.
Source: SBA.gov, “Choose your business name,” accessed on April 14, 2018