What you plan to sell, your target market, and where you plan to be located are all important details to consider when developing a business idea. However, one thing that most people leave until the last minute is deciding on a name for their company. The business title you choose will say a lot about you as a person and your company, so you should be cautious when making this decision.
You may be considering using the name of another company that is no longer in operation online. This is a good idea. However, you must exercise caution before making such a move. As a result, before you start handing out business cards or flyers and looking for bookkeeping services quick books online, consider the following.
Conduct your research
Inactivity on the internet does not imply that a company has gone out of business. Some well-known businesses (particularly older ones) have almost no online presence. Furthermore, you may discover that a company is restructuring and, as a result, will not update anything for a few months. You will be able to determine that the business name you want to use is not currently being used by another active establishment if you conduct your research.
Utilize Both Official and Unofficial Channels
You must ensure that no other store with a similar name is selling the same products or services as you. Running an online search, on the other hand, will not tell you which businesses have an online presence. This is due to the fact that some of the businesses are not registered but are still in operation. As a result, make sure to check as many databases as possible. This will keep you from being sued for infringement and from having to defend yourself in court.
Ascertain that the name has not been registered as a trademark.
Even if a company is no longer active, if they have trademarked their name, you are not permitted to use it. To avoid legal wranglings, register a company and double-check that no one has trademarked the name you want to use. If you notice this, avoid coming up with variations of the name by changing the spellings, as this may still get you in trouble.
Consider contacting the original business owner.
It is always best to have all of the facts before adopting another person’s business name. By speaking with the former enterprise’s owner, you may be able to negotiate the use of their name, or a variation of it, without crossing any legal lines. Additionally, once you’ve reached an agreement, make sure it’s well documented. However, for such negotiations, it is always best to consult with your lawyer beforehand, or to have them present.
Apply for a Trademark
After conducting all of your research and obtaining permission to use your preferred company name, you can register your business and begin operations. However, even if you have the legal right to use the name, you should consider registering it as a trademark. This will keep it from being used by others, which may cause confusion among your customers. If you intend to trade internationally, inform your lawyer so that it can be included in the application.
When it comes to business names, keep in mind that even minor variations on a registered name can land you in hot water. However, if your line of work differs from that of the abandoned venture whose name you want to use, you can register your business as long as it is not trademarked..
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