2. Register Your Business Entity’s Name
Once you’ve established your business structure, you need to choose and register your business name. As outlined below, there are four distinct ways to do so.
- A business entity name legally protects your business at a state level by preventing other businesses from operating under similar names. The registration process differs from state to state.
- A trademark legally protects your business entity’s name, products and services at the federal level. You can apply for a trademark through the U.S. Patent and Trademark Office. Trademarks are not required to operate a business, but registering gives you exclusivity rights that do not otherwise exist.
- A DBA (doing business as), which is also known as a trade name, doesn’t offer legal protection, but is generally required if your business uses a name other than its official legal name.
- Domain name: A website address protects your business’s online presence. There is no business regulation to register a domain name, but failure to do so could diminish your ability to effectively brand your business.
Resources
- https://www.irs.gov/businesses/small-businesses-self-employed/checklist-for-starting-a-business
- https://www.usa.gov/start-business
- https://www.entrepreneur.com/starting-a-business/8-legal-requirements-when-you-start-a-business/346713
- https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online