Links to Terms and Definitions
Service of Process for an LLC
Ltd vs LLC
Additional Terms and Topic Definitions
- Business name availability search: The process of researching and checking the availability of a desired business name in a particular state to ensure it is not already in use or infringing upon existing trademarks.
- Legal structure of the business: Refers to the organizational framework or form under which a business operates, such as sole proprietorship, partnership, corporation, or limited liability company (LLC).
- Registering a business entity: The process of formally establishing a legal entity, such as a corporation or LLC, with the appropriate government agency to obtain legal recognition and protection for the business.
- Trade name registration process: The procedures involved in registering a trade name or “doing business as” (DBA) name for a business, which allows it to operate under a name different from the legal name of the owner or entity.
- Choosing a unique business name: The act of selecting a distinct and original name for a business that sets it apart from competitors, is memorable to customers and complies with legal requirements.
- Protecting brand identity: Taking measures to safeguard the reputation, image, and distinctive elements associated with a business, including its name, logo, slogan, and overall brand, from unauthorized use or infringement by others.
- Registering a fictitious name: The process of registering a business name in a state that is different from the legal name of the owner or entity, commonly used when operating a business under a name other than the individual or entity’s legal name.
- Business entity formation: Refers to the process of creating and establishing a legal entity for a business, such as a corporation, LLC, partnership, or sole proprietorship, by fulfilling the necessary legal and administrative requirements.
- Trademark search and registration: Conduct a comprehensive search to ensure that a proposed business name, logo, or other identifying mark is not already in use and then apply for legal protection of the mark through the trademark registration process.
- Business license application process: The steps involved in applying for and obtaining the necessary licenses and permits required by local, state, or federal authorities to operate a specific type of business or engage in certain activities.
- Steps to incorporate a business: The sequence of actions and legal requirements involved in forming a corporation, including drafting and filing articles of incorporation, appointing directors, and fulfilling other formalities to establish a separate legal entity.
- Registering a sole proprietorship: The process of formally declaring oneself as a sole proprietor and registering the business with the appropriate government agencies to establish legal recognition and fulfill any necessary licensing requirements.
- Partnership agreement and registration: Creating a legally binding agreement that outlines the rights, responsibilities, and obligations of partners in a partnership, and subsequently registering the partnership with the relevant authorities.
- Corporate bylaws and registration: Drafting and adopting a set of internal rules and regulations that govern the operations and decision-making processes of a corporation, and registering the corporation with the appropriate government agencies.
- Annual report filing requirements: The obligations imposed on businesses, particularly corporations, and LLCs, to submit an annual report or statement to the relevant regulatory authorities, providing information about the company’s activities, financial status, and changes in key personnel.
- Company formation: The process of establishing a legally recognized business entity, such as a corporation, limited liability company (LLC), or partnership, by fulfilling the necessary legal and administrative requirements.
- Fictitious name: Also known as a “trade name” or “DBA” (Doing Business As), it refers to a name under which a business operates that is different from its legal name. It allows businesses to conduct operations and build a brand identity using a name other than the registered entity name.
- Business entity selection: The process of choosing the appropriate legal structure for a business, such as sole proprietorship, partnership, corporation, or LLC. It involves considering factors like liability protection, tax implications, management structure, and compliance requirements.
- Trademark infringement: The unauthorized use of a registered trademark or a similar mark that could cause confusion among consumers. It involves using a protected mark for goods or services without permission, potentially leading to legal consequences and damages.
- Business name reservation: The process of temporarily reserving a business name with the appropriate government authority before formally registering it. This reservation ensures that the desired name is secured for a certain period, allowing time for the registration process to be completed.
- Doing business as (DBA): A term used when a business operates under a name different from its legal entity name. It is also known as a trade name or fictitious name and is often required to be registered with the appropriate government agency.
- Registered Agent: An individual or entity designated to receive legal and official documents on behalf of a business entity. The registered agent ensures that important communications, such as legal notices and tax forms, are properly received by the business.
- Intellectual property protection: The legal safeguarding of intangible assets, such as inventions, trademarks, copyrights, and trade secrets. Intellectual property protection helps prevent unauthorized use, copying, or exploitation of these assets by others.
- Compliance requirements: The regulations and obligations that businesses must adhere to in order to operate legally and ethically. Compliance requirements can include laws and regulations related to taxes, licensing, employment, data protection, environmental impact, and more.
- Employer identification number (EIN): A unique nine-digit number assigned by the Internal Revenue Service (IRS) to identify businesses and other entities for tax purposes. An EIN is required for filing tax returns, opening business bank accounts, hiring employees, and conducting various financial transactions.
Information provided on this website is for general information and educational purposes only. It is not intended to offer legal advice specific to your business needs. If you need legal advice, you should consult with an attorney. Rankings and reviews are the personal opinions of the authors and/or editors. For questions, while starting a business, we recommend consulting with an attorney or accountant.