Over time, you may decide that the business name you chose for your company no longer accurately reflects your brand. Or you might decide you would be better off legally to have a different name.
Depending on the entity type, the process for changing a business name varies. It can be confusing, so let's take a moment to break down the options that sole proprietorships, partnerships, LLCs, and corporations have when changing their company name.
Whether you run a sole proprietorship, partnership, LLC, or a corporation, our detailed step-by-step . [+] guide breaks down your options for changing your company’s name.
While this guide will give you an understanding of what's involved, it is not a replacement for advice from a lawyer. Changing your business name may have legal implications, so it's best to talk with a licensed business attorney before jumping into action.
Operating as either of these entities means you have not set up an official business structure with the state. A sole proprietorship or partnership are one in the same entity as their owner(s)—the business name must have the owner’s first and last names in it. However, that doesn’t mean sole proprietorships and general partnerships can’t market themselves under a name that’s more interesting and attractive. They can file for a fictitious business name, also called “Doing Business As” (DBA).
If your business is a sole proprietorship or partnership and you want to change your DBA, you can do so by:
Sole proprietors: “Write to us at the address where you filed your return, informing the Internal Revenue Service (IRS) of the name change. Note: The notification must be signed by the business owner or authorized representative.”
Partnerships: “If you are filing a current year Form 1065, mark the appropriate name change box on the form: Page 1, Line G, Box 3. If you have already filed your return for the current year, write to us at the address where you filed your return to inform us of the name change. In addition, the notification must be signed by a partner of the business.”
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Businesses registered as either an LLC or a corporation may change their name using one of two methods. One requires abandoning the original business name entirely while the other maintains the original name and creates a new one for marketing purposes (such as for a new product line).
1. File Articles of Amendment with the state to change the business name
By filing a document called “Articles of Amendment,” an LLC or corporation can request to change the name of the business. When approved, it means your company will operate under its new name. Note: Businesses that have foreign qualified in other states (i.e., are registered in multiple states) must file Articles of Amendment in all those states.
While this takes care of the state records, you may also need to follow through on one or more of the following steps, depending on your situation:
2. Keep the original name as the registered business name and file a DBA for the new name
It may make more sense for a company to keep its official name intact (e.g., perhaps the business holds a trademark for the name or has built a customer following for the brand) and create a new name for marketing and branding purposes. In situations like that, you can keep your business's officially registered name while filing a fictitious name (DBA) for the new name with the state or county office (whichever has authority over DBAs).
After filing the DBA, contact your bank to find out if the DBA can be added to your company's existing bank account or if it will need its own account.
Whether filing Articles of Amendment to change a business name or creating a DBA, it's critical to check that the desired new name isn’t already claimed legally by another business. Using the United States Patent and Trademark Office’s online database can help detect any potential conflicts. I also recommend doing a more in-depth search using state databases; a trademark attorney or online legal filing service can assist with that.