Although it may seem counterproductive to change the name of any business (because it has likely built up a following over time, or at least consumer recognition), there are actually several reasons why a business owner might want to give a company a new name. If the business is changing hands for example, the new owner might want to put their own stamp on the brand. Or if the company is called “Johnson and Sons Tractor Repair”, but the sons opt out of the business, the elder Johnson might not feel right about keeping his progeny attached to his tractor repair operation. And if a business has been associated with some type of scandal, the owner may want to change the name as a way to protect his/her investment. In short, a business owner may have any number of reasons for wanting to turn over a new leaf, starting with a new name, so if you’re looking to get a fresh start, here are a few tips to help you change the name of your business.
For starters, you need to know that there are a couple of entities that you will have to deal with in order to legally change the name of your business, so you may want to start by contacting a business attorney to make sure that you get all of your legal ducks in a row. The procedure varies by state, but generally speaking you are going to have to file your name change with both a state entity and the IRS, and depending on the type of business you own (sole proprietorship, partnership, corporation, etc.) you will almost certainly have to fill out specific paperwork. You should also determine if there is a difference in filing for non-profit versus for-profit businesses. However, if you don’t have the cash on hand to pay attorney fees, you can opt to go it alone.
First you need to determine which governing body in your state is responsible for registering and approving business names and name changes. It could be the Secretary of State, the county registrar (in the county where the business is headquartered), a Division of Corporations, or even the Superior Court. You will simply have to do a little research to find out where to file for a name change in your particular state. Luckily, many states now offer online registration or amendment of businesses names through online avenues to save you a trek to the courthouse or time spent waiting for snail mail. In some cases, you can file all applicable paperwork for both the state and the IRS through one website rather than filing twice.
So whether you’re a career caterer that has just bought out the owner of the operation you’ve worked at for years, you recently suffered a divorce but retained your joint business, or you’re one of several Jones Act attorneys that decided to start a partnership, you may be looking to change the name of your business. And with just a little research you can easily find the correct entities to contact in your state (often online), file your paperwork, and be on your way to a fresh start in your chosen profession.
David Coates is a contributing writer for Doyle Raizner, the premier law firm specializing in Maritime law and personal injury cases.