Can you change the name of your LLC? A question common among new entrepreneurs in the business world. Understanding the process is essential for any business owner, whether due to market perception, rebranding, globalization, legal issues, simplification, or strategic reasons.
You can modify and re-register your business identity, but there are processes to follow. Join us as we discuss ways to change the name of your limited liability company. Let’s get started.
When Can You Change the Name of Your LLC?
You can change your LLC name any time after formation, subject to the regulations and rules guiding your specific jurisdiction. There are several reasons to consider this process, and below are a few:
1. Rebranding
An LLC can change its entity name if the business changes focus after expanding into new markets. Adjusting the formal identity might align and reflect the organization’s direction.
2. Legal Issues
Another reason to change the name of your limited liability company as an entrepreneur is if the company’s trademark infringes on another organization. Changing the formal identity is essential to avoid legal disputes.
3. Market Perception
Entrepreneurs can change the name of their LLC if the current word combination doesn’t resonate with the target audience or has negative connotations. Crafting and registering a new identity could improve your business image.
4. Acquisition or Merger
After a new acquisition or merger with a new company, an LLC name change might be necessary to reflect the combined or ownership identity.
5. Expansion or Diversification
Most entrepreneurs change the name of their limited liability company after expanding into new industries and offering new services and products. Changing the entity’s identity can signal the change to your customers.
6. Simplification
If the limited liability company’s current name is difficult to pronounce or spell, changing it to something simpler is vital, making it easier for customers to find you.
7. Globalization
If you’re going international with your local business, changing the name of your limited liability company could be an excellent strategy. It helps you combine words that translate well across cultures and languages.
8. Personal or Owner’s Name
If the LLC business includes the founder’s or your name, consider changing it to grow beyond that association.
Can You Change the Name of Your LLC: How to Succeed
Checking if the new name is available in your jurisdiction, approving a resolution, and amending your articles of organization are your first steps. Researching your state’s naming provisions is also excellent. Let’s dig into the details:
Check for New Name Availability
Your first step for an LLC business name change is verifying if the new word combination is available in the state in which you operate. Most jurisdictions allow entrepreneurs to search online via the secretary of state’s official website or other business filing agency.
Another essential strategy is to ensure the new name doesn’t infringe on the trademark rights of another business. Protecting its rights is also crucial if your limited liability company identity will function as a trademark.
Consider consulting a trusted advisor with years of experience in trademark law to help navigate the complexities.
Approve a Resolution
Your next step when changing the name of your LLC is approving a resolution for the process. The limited liability company members or owners must first support it.
You may formally meet with the shareholders or reach an informal agreement to execute the process. But consider writing a resolution approving the name change and keeping official records of the limited liability company intact.
Beginners should refer to the limited liability company’s operating agreement to check the outline for managing these matters.
Amend Your Articles of Organization.
After approving a resolution to change your limited liability company’s name, your next step is amending the articles of organization in the state in which you operate. Remember that each jurisdiction has a form, so search “change name of LLC” on the Secretary of State’s website or contact their business filing agency for necessary information.
After changing the name of an LLC by completing the appropriate form, pay the required fees and submit it to the Secretary of State.
Amend Your Operating Agreement.
Another ideal step is amending the internal limited liability company’s operating agreement to display the new name.
Where Else Do You Need to Update Your New Business Name?
Based on your business’s current situation, there are a few other steps to complete. They include the following:
- Contacting your bank to ensure the new name compiles with your business account is necessary.
- Check your business permits and licenses. Contact your town, city, or county to update these documents to cancellation or the need to apply for new records under the new identity.
- Can you keep your EIN when you change the name of your LLC? Yes, but check the Secretary of State’s website for the required actions.
- Your next step is to notify the Internal Revenue Service (IRS) of the new name.
When Can You Change the Name of Your LLC: Wrapping Up?
When can you change the name of your LLC? Now, you can provide answers to these questions and navigate the process seamlessly. Once your new identity gets approval from the state, start updating your business signage.
Furthermore, ensure your website and marketing materials reflect the new identity. You want to develop a marketing campaign that lets the media, prospects, and customers know about the change.
Lastly, contact a professional company formation service that ensures a smooth process without legal issues. BusinessAnywhere Company Formation Service fits the description. Contact us today to experience the difference.
