Can you use the name of a closed business?

If the name was registered in your state, it will be listed in the state’s business entity database. If the company is inactive, you may not be able to use its name. If the company is listed as dissolved, the name may be available for your use.

Can I use the same name as a dissolved company?

Can I use a dissolved company name? The names of dissolved limited companies can be registered by new and existing companies. There are no legal restrictions when choosing such a name. However, one important point you should consider is the reputation of the dissolved company.

Can I have a business with the same name as someone else?

Using the same name as another business will typically not be acceptable when: You sell different products or services but operate within the same industry as another company. The name is in use by a major national brand, regardless of industry. The other business registered for trademarks before you did.

Can I reopen a closed business?

If reinstatement is not available in a specific state, the only option for reactivating an LLC that has been dissolved is to form a new limited liability company using the old name of the dissolved LLC. The LLC would be a new entity and in no way tied to the old company.

What happens to assets when a business closes?

Liquidation of Assets After a company is dissolved, it must liquidate its assets. Thus, you can’t liquidate assets that are used as collateral for loans. Assets used as security for loans must be given to the bank or creditor that extended the loan, or you must pay off the loan before selling such assets.

Is it illegal to trade under a dissolved company name?

In legal terms, when a company is dissolved, it ceases to exist. It cannot still be trading – although a person may trade (misleadingly) using its name. So, your real customer is some other person or entity (perhaps the former owner or owners of the company).

Can I register a company name if it has been dissolved?

Dissolved companies are companies that have been struck off the register and are no longer in existence. This means that a dissolved company name can be registered by a new or existing company.

Can you close a business and reopen with same name?

Open a new business entity under the same name if you are unable to reestablish old tax identification numbers or activate your company profile through the Secretary of State. This will require new bylaws and tax identification numbers, but you should be able to get the same name since your business was closed.

Can you restart a failed business?

Successfully restarting a failed business depends on mapping your new route. It’s tempting to simply announce yourself as open for business once again and seeing what happens from there, but if you don’t have landmarks you want to hit, your venture will collapse once again.

Can I use another company’s business name when I start one?

If you start using the business name first, but the other business registered it first, then you still have the right to use the name, but only in the market you were operating in at the time the other business registered the name.

Can an LLC have the same business name as a corporation?

LLCs and corporations are formed on a state-by-state basis. The business name you use in a state must be unique within that state. Businesses can have identical names if they are formed in different states. You should check if other businesses have the same or similar names using our tool.

Are You screwed when you sell your business to another business?

If your business is online and the other business is online, then you may be screwed because your markets may overlap. Exercise caution and analyze the other factors carefully. If the other business is a traditional marketing firm based out of Florida that has not done much business over the web, then you’re probably less screwed.

What if another business has the same name as mine?

Another business has the same name as mine. Chances are that many of you will receive a nastygram or threatening email from somebody accusing you of infringing on his trademark by copying his business name, slogan, or logo. It’s only a matter of time in the online world.