How To Write A Business Plan (2024 Guide) – Forbes Advisor
In this guide, we'll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.
business’s registered name
After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your <anchor>business’s registered name</anchor>, your business address and any key employees involved in the business.
Trade Name Vs Business Name – Forbes Advisor
Trade Name Vs Business Name – Forbes Advisor

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- [Business Formation](https://forbes.com/advisor/business/)


Business Formation



- [Business Formation](https://forbes.com/advisor/business/)
- Best Ofs



[Best LLC Services](https://www.forbes.com/advisor/business/best-llc-service/) [Best Registered Agent Services](https://www.forbes.com/advisor/business/best-registered-agent-services/)

- Guides



[How To Start An LLC](https://www.forbes.com/advisor/business/how-to-set-up-an-llc-in-7-steps/) [How To Start A Business](https://www.forbes.com/advisor/business/how-to-start-a-business/) [How To Get A Business License](https://www.forbes.com/advisor/business/how-to-get-a-business-license/) [How To Register A Business Name](https://www.forbes.com/advisor/business/how-register-business-name/) [Cost To Form An LLC](https://www.forbes.com/advisor/business/cost-to-form-llc/) [Small Business Ideas](https://www.forbes.com/advisor/business/small-business-ideas/) [What Is A Registered Agent](https://www.forbes.com/advisor/business/what-is-registered-agent/)

- Reviews



[LegalZoom Review](https://www.forbes.com/advisor/business/software/legalzoom-llc-review/) [ZenBusiness Review](https://www.forbes.com/advisor/business/zenbusiness-review/) [Bizee Review](https://www.forbes.com/advisor/business/incfile-review/) [Rocket Lawyer Review](https://www.forbes.com/advisor/business/rocket-lawyer-review/) [Active Filings Review](https://www.forbes.com/advisor/business/software/activefilings-review/) [Swyft Filings Review](https://www.forbes.com/advisor/business/swyft-filings-review/) [Northwest Registered Agent Review](https://www.forbes.com/advisor/business/services/northwest-registered-agent-review/) [BetterLegal Review](https://www.forbes.com/advisor/business/betterlegal-review/) [Filenow Review](https://www.forbes.com/advisor/business/filenow-review/) [Inc Authority Review](https://www.forbes.com/advisor/business/inc-authority-review/)


- [HR & Payroll](https://www.forbes.com/advisor/business)


HR & Payroll



- [HR & Payroll](https://www.forbes.com/advisor/business)
- Best Ofs



[Best Payroll Services](https://www.forbes.com/advisor/business/software/best-payroll-services/) [Best HR Software](https://www.forbes.com/advisor/business/software/best-human-resource-management-systems/) [Best HRIS Systems](https://www.forbes.com/advisor/business/software/hris-systems/) [Best Onboarding Software](https://www.forbes.com/advisor/business/software/best-onboarding-software/) [Best Workforce Management Software](https://www.forbes.com/advisor/business/software/best-workforce-management-software/) [Best Recruiting Software](https://www.forbes.com/advisor/business/software/best-recruiting-software/) [Best Performance Management Software](https://www.forbes.com/advisor/business/software/best-performance-management-software/) [Best PEO Services](https://www.forbes.com/advisor/business/software/best-peo-services/) [Best HR Outsourcing Services](https://www.forbes.com/advisor/business/software/best-hr-outsourcing-services/) [Best International Payroll Services](https://www.forbes.com/advisor/business/best-international-payroll-services/)

- Guides



[How To Do Payroll](https://www.forbes.com/advisor/business/how-to-do-payroll/) [Payroll Outsourcing Guide](https://www.forbes.com/advisor/business/payroll-outsourcing/) [How To Pay Employees](https://www.forbes.com/advisor/business/how-to-pay-employees/) [HR Software Pricing](https://www.forbes.com/advisor/business/hr-software-pricing/) [Employee Benefits Guide](https://www.forbes.com/advisor/business/employee-benefits/) [HR Compliance Guide](https://www.forbes.com/advisor/business/hr-compliance/) [HR Analytics Guide](https://www.forbes.com/advisor/business/hr-analytics/)

- Reviews



[OnPay Review](https://www.forbes.com/advisor/business/onpay-review/) [Gusto Review](https://www.forbes.com/advisor/business/gusto-review/) [Justworks Review](https://www.forbes.com/advisor/business/software/justworks-review/) [Paychex Flex Review](https://www.forbes.com/advisor/business/paychex-flex-review/) [ADP Run Review](https://www.forbes.com/advisor/business/adp-run-review/) [TriNet Review](https://www.forbes.com/advisor/business/software/trinet-review/) [Wave Payroll Review](https://www.forbes.com/advisor/business/software/wave-payroll-review/) [Paycor Review](https://www.forbes.com/advisor/business/software/paycor-review/) [Rippling Review](https://www.forbes.com/advisor/business/software/rippling-review/)


- [Web Design & Hosting](https://www.forbes.com/advisor/business/)


Web Design & Hosting



- [Web Design & Hosting](https://www.forbes.com/advisor/business/)
- Best Ofs



[Best Website Builders](https://www.forbes.com/advisor/business/software/best-website-builders/) [Best E-commerce Platforms](/advisor/business/software/best-ecommerce-platform/) [Best Blogging Platforms](https://www.forbes.com/advisor/business/software/best-blogging-platforms/) [Best Web Hosting Services](https://www.forbes.com/advisor/business/software/best-web-hosting-services/) [Best Domain Registrars](https://www.forbes.com/advisor/business/software/best-domain-registrar/) [Best Landing Page Builders](https://www.forbes.com/advisor/business/software/best-landing-page-builder/) [Best WordPress Hosting Services](https://www.forbes.com/advisor/business/software/best-wordpress-hosting-services/) [Best VPS Hosting Services](https://www.forbes.com/advisor/business/software/best-vps-hosting/) [Best Dedicated Hosting Services](https://www.forbes.com/advisor/business/software/best-dedicated-server-hosting/) [Best Shared Web Hosting Services](https://www.forbes.com/advisor/business/software/best-shared-hosting/)

- Guides



[How To Make A Website](https://www.forbes.com/advisor/business/how-to-make-a-website-for-your-business/) [How To Start An Online Store](https://www.forbes.com/advisor/business/how-to-start-an-online-store/) [How To Host A Website](https://www.forbes.com/advisor/business/how-host-own-website/) [How To Start A Blog](https://www.forbes.com/advisor/business/start-a-blog/) [How To Register A Domain Name](https://www.forbes.com/advisor/business/how-register-domain-name/) [How To Create A Business Email](https://www.forbes.com/advisor/business/how-to-create-business-email/) [How Much Does A Website Cost?](https://www.forbes.com/advisor/business/software/how-much-does-a-website-cost/) [Web Hosting Cost](https://www.forbes.com/advisor/business/website-hosting-cost/)

- Reviews



[Weebly Review](https://www.forbes.com/advisor/business/weebly-review/) [GoDaddy Review](https://www.forbes.com/advisor/business/software/godaddy-web-hosting/) [IONOS Review](https://www.forbes.com/advisor/business/software/ionos-review/) [Squarespace Review](https://www.forbes.com/advisor/business/software/squarespace-review/) [HostGator Review](https://www.forbes.com/advisor/business/software/hostgator-review/) [Wix Review](https://www.forbes.com/advisor/business/software/wix-review/) [Shopify Review](https://www.forbes.com/advisor/business/software/shopify-review/) [Hostinger Review](https://www.forbes.com/advisor/business/hostinger-review/) [WordPress Review](https://www.forbes.com/advisor/business/software/wordpress-review/) [Duda Review](https://www.forbes.com/advisor/business/software/duda-review/)


- [Payment Processing](https://forbes.com/advisor/business/)


Payment Processing



- [Payment Processing](https://forbes.com/advisor/business/)
- Best Ofs



[Best Credit Card Processing Companies](https://www.forbes.com/advisor/business/software/best-credit-card-processing-companies/) [Best Merchant Account Services](https://www.forbes.com/advisor/business/best-merchant-account-services/) [Best High Risk Merchant Account Services](https://www.forbes.com/advisor/business/best-high-risk-merchant-account-providers/) [Best POS Systems](https://www.forbes.com/advisor/business/software/best-pos-system-for-small-business/) [Best Restaurant POS Systems](https://www.forbes.com/advisor/business/software/best-restaurant-pos-systems/) [Best Retail POS Systems](https://www.forbes.com/advisor/business/software/best-retail-pos-system/) [Best Credit Card Readers](https://www.forbes.com/advisor/business/software/best-mobile-credit-card-readers/) [Best Payment Gateways](https://www.forbes.com/advisor/business/software/best-payment-gateways/) [Best ACH Payment Processing](https://www.forbes.com/advisor/business/software/best-ach-payment-processing/) [Cheap Credit Card Processing Services](https://www.forbes.com/advisor/business/accept-credit-card-payments-cheap/)

- Guides



[How To Accept Credit Card Payments](https://www.forbes.com/advisor/business/how-to-accept-credit-card-payments/) [How To Accept Online Payments](https://www.forbes.com/advisor/business/software/accept-online-payments/) [How To Accept ACH Payments](https://www.forbes.com/advisor/business/accept-ach-payments/) [How To Accept Apple Pay](https://www.forbes.com/advisor/business/how-accept-apple-pay/) [Credit Card Processing Fees](https://www.forbes.com/advisor/business/credit-card-processing-fees/) [What Is A Convenience Fee?](https://www.forbes.com/advisor/business/what-is-convenience-fee/)

- Reviews



[Square Review](https://www.forbes.com/advisor/business/software/square-review/) [Clover POS Review](https://www.forbes.com/advisor/business/software/best-payment-gateways/%20https://www.forbes.com/advisor/business/software/best-ach-payment-processing/%20https://www.forbes.com/advisor/business/accept-credit-card-payments-cheap/%20%20https://www.forbes.com/advisor/business/how-to-accept-credit-card-payments/%20https://www.forbes.com/advisor/business/software/accept-online-payments/%20https://www.forbes.com/advisor/business/accept-ach-payments/%20https://www.forbes.com/advisor/business/how-accept-apple-pay/%20https://www.forbes.com/advisor/business/credit-card-processing-fees/%20https://www.forbes.com/advisor/business/what-is-convenience-fee/%20%20https://www.forbes.com/advisor/business/software/square-review/%20https://www.forbes.com/advisor/business/toast-pos-review/) [Toast POS Review](https://www.forbes.com/advisor/business/software/clover-pos-review/) [TouchBistro Review](https://www.forbes.com/advisor/business/software/touchbistro-review/) [Lightspeed POS Review](https://www.forbes.com/advisor/business/software/lightspeed-pos-review/) [Stripe Review](https://www.forbes.com/advisor/business/software/stripe-review/) [Stax Review](https://www.forbes.com/advisor/business/software/stax-review/) [PayPal Review](https://www.forbes.com/advisor/business/software/paypal-review/) [Payment Depot Review](https://www.forbes.com/advisor/business/payment-depot-review/) [Helcim Review](https://www.forbes.com/advisor/business/software/helcim-review/)


- [VoIP & Communication](https://forbes.com/advisor/business/)


VoIP & Communication



- [VoIP & Communication](https://forbes.com/advisor/business/)
- Best Ofs



[Best VoIP Services](https://www.forbes.com/advisor/business/software/best-voip-service/) [Best Cheap VoIP Services](https://www.forbes.com/advisor/business/services/best-cheap-voip-services/) [Best VoIP Apps](https://www.forbes.com/advisor/business/software/best-voip-apps/) [Best Call Center Software](https://www.forbes.com/advisor/business/software/best-call-center-software/) [Best Answering Services](https://www.forbes.com/advisor/business/software/best-answering-services/) [Best Business Cell Phone Plans](https://www.forbes.com/advisor/business/software/best-business-cell-phone-plans/) [Best Webinar Software](https://www.forbes.com/advisor/business/software/best-webinar-software/) [Best Live Chat Software](https://www.forbes.com/advisor/business/software/best-live-chat-software/) [Best Auto Dialers](https://www.forbes.com/advisor/business/best-auto-dialer/) [Best Online Fax Services](https://www.forbes.com/advisor/business/software/best-online-fax-services/)

- Guides



[How to Get a Free Business Phone Number](https://www.forbes.com/advisor/business/services/free-business-phone-number/) [What Is VoIP?](https://www.forbes.com/advisor/business/software/what-voip/) [How To Set Up VoIP](https://www.forbes.com/advisor/business/software/how-to-set-up-voip-system/) [How To Send A Fax](https://www.forbes.com/advisor/business/how-to-send-fax/) [How To Get A Toll-Free Number](https://www.forbes.com/advisor/business/get-a-toll-free-number/) [How To Port A Phone Number](https://www.forbes.com/advisor/business/how-to-port-phone-number/)

- Reviews



[Google Voice Review](https://www.forbes.com/advisor/business/software/google-voice-review/) [RingCentral Review](https://www.forbes.com/advisor/business/software/ringcentral-review/) [Dialpad Review](https://www.forbes.com/advisor/business/software/dialpad-review/) [Intermedia Unite Review](https://www.forbes.com/advisor/business/software/intermedia-unite-review/) [Nextiva Review](https://www.forbes.com/advisor/business/software/nextiva-review/) [Grasshopper Review](https://www.forbes.com/advisor/business/software/grasshopper-review/) [Zoom Review](https://www.forbes.com/advisor/business/software/zoom-review/) [8x8 Review](https://www.forbes.com/advisor/business/software/8x8-review/) [Aircall Review](https://www.forbes.com/advisor/business/software/aircall-review/) [Ooma Office Review](https://www.forbes.com/advisor/business/software/ooma-office-review/)


- [Project Management](https://www.forbes.com/advisor/business/)


Project Management



- [Project Management](https://www.forbes.com/advisor/business/)
- Best Ofs



[Best Project Management Software](https://www.forbes.com/advisor/business/software/best-project-management-software/) [Best Free Project Management Software](https://www.forbes.com/advisor/business/software/free-project-management-software/) [Best Task Management Software](https://www.forbes.com/advisor/business/software/best-task-management-software/) [Best Gantt Chart Software](https://www.forbes.com/advisor/business/software/best-gantt-chart-software/) [Best Kanban Software](https://www.forbes.com/advisor/business/software/best-kanban-software/) [Best Construction Project Management Software](https://www.forbes.com/advisor/business/best-construction-project-management-software/) [Best Marketing Project Management Software](https://www.forbes.com/advisor/business/software/best-marketing-project-management-software/) [Best Enterprise Project Management Software](https://www.forbes.com/advisor/business/software/best-enterprise-project-management-software/)

- Guides



[What is Project Management?](https://www.forbes.com/advisor/business/what-is-project-management/) [Project Management Methodologies](https://www.forbes.com/advisor/business/project-management-methodologies/) [Gantt Chart](https://www.forbes.com/advisor/business/software/what-is-a-gantt-chart/) [Kanban Board](https://www.forbes.com/advisor/business/software/what-is-kanban-board/) [RACI Chart](https://www.forbes.com/advisor/business/raci-chart/) [S.M.A.R.T. Goals](https://www.forbes.com/advisor/business/smart-goals/) [Work Breakdown Structure (WBS)](https://www.forbes.com/advisor/business/what-is-work-breakdown-structure/) [Free Project Plan Template](https://www.forbes.com/advisor/business/project-plan-template/) [How To Create A Project Timeline](https://www.forbes.com/advisor/business/software/create-a-project-timeline/)

- Reviews



[ClickUp Review](https://www.forbes.com/advisor/business/software/clickup-review/) [Monday.com Review](https://www.forbes.com/advisor/business/software/mondaycom-review/) [Asana Review](https://www.forbes.com/advisor/business/software/asana-review/) [Smartsheet Review](https://www.forbes.com/advisor/business/software/smartsheet-review/) [Notion Review](https://www.forbes.com/advisor/business/software/notion-review/) [Teamwork Review](https://www.forbes.com/advisor/business/software/teamwork-review/) [Wrike Review](https://www.forbes.com/advisor/business/software/wrike-review/) [Jira Review](https://www.forbes.com/advisor/business/software/jira-review/) [Airtable Review](https://www.forbes.com/advisor/business/software/airtable-review/) [Trello Review](https://www.forbes.com/advisor/business/software/trello-review/)


- [Privacy & Security](https://www.forbes.com/advisor/business/)


Privacy & Security



- [Privacy & Security](https://www.forbes.com/advisor/business/)
- Best Ofs



[Best VPN](https://www.forbes.com/advisor/business/software/best-vpn/) [Best Antivirus Software](https://www.forbes.com/advisor/business/software/best-antivirus-software/) [Best Password Managers](https://www.forbes.com/advisor/business/software/best-password-managers/) [Best Free VPN](https://www.forbes.com/advisor/business/best-free-vpn/) [Best Cheap VPN](https://www.forbes.com/advisor/business/software/best-cheap-vpn/) [Best iPhone VPN](https://www.forbes.com/advisor/business/software/best-vpn-for-iphone/) [Best Android VPN](https://www.forbes.com/advisor/business/software/best-vpn-for-android/) [Best Business VPN](https://www.forbes.com/advisor/business/software/best-business-vpn/) [Best Gaming VPN](https://www.forbes.com/advisor/business/software/best-vpn-gaming/) [Best Netflix VPN](https://www.forbes.com/advisor/business/software/best-netflix-vpn/)

- Guides



[How To Set Up A VPN](https://www.forbes.com/advisor/business/software/how-to-set-up-a-vpn/) [VPN Cost Guide](https://www.forbes.com/advisor/business/software/vpn-cost/) [Internet Safety Guide](https://www.forbes.com/advisor/business/internet-safety/) [Are VPNs Legal?](https://www.forbes.com/advisor/business/are-vpns-legal/) [How To Change Your IP Address](https://www.forbes.com/advisor/business/software/how-to-change-ip-address/) [How To Hide Your IP Address](https://www.forbes.com/advisor/business/how-hide-ip-address/) [How To Share A Password](https://www.forbes.com/advisor/business/how-share-password/)

- Reviews



[NordVPN Review](https://www.forbes.com/advisor/business/software/nordvpn-review/) [TorGuard VPN Review](https://www.forbes.com/advisor/business/software/torguard-review/) [TunnelBear Review](https://www.forbes.com/advisor/business/software/tunnelbear-vpn/) [Private Internet Access Review](https://www.forbes.com/advisor/business/software/private-internet-access-vpn-review/) [hide.me Review](https://www.forbes.com/advisor/business/software/hideme-review/) [Surfshark Review](https://www.forbes.com/advisor/business/software/surfshark-vpn-review/) [VPN Unlimited Review](https://www.forbes.com/advisor/business/software/keepsolid-vpn-unlimited-review/) [ExpressVPN Review](https://www.forbes.com/advisor/business/software/expressvpn-review/) [CyberGhost VPN Review](https://www.forbes.com/advisor/business/software/cyberghost-vpn-review/)


- [CRM](https://forbes.com/advisor/business/)


CRM



- [CRM](https://forbes.com/advisor/business/)
- Best Ofs



[Best CRM Software](https://www.forbes.com/advisor/business/software/best-crm-software/) [Best CRM For Small Business](https://www.forbes.com/advisor/business/software/best-crm-small-business/) [Best Contact Center CRM](https://www.forbes.com/advisor/business/software/best-contact-center-crm/) [Best CRM For Real Estate](https://www.forbes.com/advisor/business/software/best-real-estate-crm/) [Best Marketing CRM](https://www.forbes.com/advisor/business/software/best-marketing-crm/) [Best CRM For Financial Advisors](https://www.forbes.com/advisor/business/software/best-crm-financial-advisors/) [Best Open Source CRM](https://www.forbes.com/advisor/business/software/best-open-source-crm/) [Best Free CRM](https://www.forbes.com/advisor/business/software/best-free-crms/)

- Guides



[CRM Pricing Guide](https://www.forbes.com/advisor/business/software/crm-pricing/) [CRM Pricing Guide](https://www.forbes.com/advisor/business/software/crm-pricing/) [CRM Implementation](https://www.forbes.com/advisor/business/crm-implementation/) [CRM Automation](https://www.forbes.com/advisor/business/crm-automation/) [CRM Integrations](https://www.forbes.com/advisor/business/software/what-is-crm-integration/) [Customer Onboarding](https://www.forbes.com/advisor/business/customer-onboarding/) [Customer Segmentation](https://www.forbes.com/advisor/business/customer-segmentation/) [Customer Engagement](https://www.forbes.com/advisor/business/customer-engagement/) [Customer Lifecycle Management](https://www.forbes.com/advisor/business/customer-lifecycle-management/) [Customer Retention Strategies](https://www.forbes.com/advisor/business/customer-retention-strategies/)

- Reviews



[Zoho CRM Review](https://www.forbes.com/advisor/business/software/zoho-crm-review/) [Salesforce Review](https://www.forbes.com/advisor/business/software/salesforce-review/) [Monday.com Review](https://www.forbes.com/advisor/business/software/mondaycom-review/) [HubSpot Review](https://www.forbes.com/advisor/business/software/hubspot-crm-review/) [Bitrix24 Review](https://www.forbes.com/advisor/business/software/bitrix24-review/) [HoneyBook Review](https://www.forbes.com/advisor/business/software/honeybook-review/) [Zendesk Sell Review](https://www.forbes.com/advisor/business/software/zendesk-sell-review/) [Pipedrive Review](https://www.forbes.com/advisor/business/software/pipedrive-review/) [Freshsales Review](https://www.forbes.com/advisor/business/software/freshsales-review/) [Insightly Review](https://www.forbes.com/advisor/business/software/insightly-review/)


- [Accounting, Billing & Invoicing](https://forbes.com/advisor/business/)


Accounting, Billing & Invoicing



- [Accounting, Billing & Invoicing](https://forbes.com/advisor/business/)
- Best Ofs



[Best Accounting Software For Small Business](https://www.forbes.com/advisor/business/software/best-accounting-software/) [Best Invoicing Software](https://www.forbes.com/advisor/business/software/best-invoicing-software/) [Best Online Bookkeeping Services](https://www.forbes.com/advisor/business/software/best-online-bookkeeping-services/) [Best Business Expense Tracker Apps](https://www.forbes.com/advisor/business/software/best-business-expense-tracker-apps/) [Best Cloud Accounting Software](https://www.forbes.com/advisor/business/software/best-cloud-accounting-software/) [Best Construction Accounting Software](https://www.forbes.com/advisor/business/software/best-construction-accounting-software/) [Best Real Estate Accounting Software](https://www.forbes.com/advisor/business/software/best-real-estate-accounting-software/) [Best Nonprofit Accounting Software](https://www.forbes.com/advisor/business/software/best-accounting-software-nonprofits/) [Best Mac Accounting Software](https://www.forbes.com/advisor/business/software/best-accounting-software-mac/)

- Guides



[What Is Accounting?](https://www.forbes.com/advisor/business/what-is-accounting/) [Small Business Bookkeeping](https://www.forbes.com/advisor/business/small-business-bookkeeping/) [How To Find An Accountant](https://www.forbes.com/advisor/business/how-find-small-business-accountant/) [How To Send An Invoice](https://www.forbes.com/advisor/business/how-to-send-an-invoice/) [How Much Does An Accountant Cost?](https://www.forbes.com/advisor/business/accountant-cost/) [The Accounting Cycle](https://www.forbes.com/advisor/business/accounting-cycle/) [Tracking Business Expenses](https://www.forbes.com/advisor/business/how-track-business-expenses/) [Types Of Accounting](https://www.forbes.com/advisor/business/8-types-of-accounting-explained/)

- Reviews



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![Trade Name Vs. Business Name: What’s The Difference?](https://thumbor.forbes.com/thumbor/fit-in/900x510/https://www.forbes.com/advisor/wp-content/uploads/2021/11/trade_name_vs_business_name_-_article_image.jpg)Getty

When you start an LLC or corporation, you’ll need to list your [company’s name](https://www.forbes.com/advisor/business/llc-names/) when you file paperwork with the state. This name will become your business’s official legal name. However, the business name doesn’t necessarily have to be the customer-facing name that you use. This is what the trade name is, or the DBA (doing business as) name. Knowing the difference between a trade name and a business name is important. Here’s what you need to know.

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## What Is a Business Name?

The business name is the legal name that your business filed with your state when you set up your LLC, corporation or other business structure.

The business name is the legal name under which your business is registered for taxes and official government purposes. It is important to have this name so you can start conducting business officially by hiring employees, providing services and getting the materials you need to start doing business.

### Requirements of a Business Name

When you find the perfect business name to set up your company, you have to make sure that it isn’t already being used by another business in your state. Before filing all of the necessary business paperwork, you can place a hold on a name you want for a small fee in most states. However, your business won’t officially be formed with the name you’ve chosen until you file business formation documents.

It is necessary to search available names in the state where you’re filing. It’s always possible that your first choice will have been taken, so you should come prepared with a few backup options for your LLC or corporation.

## What Is a Trade Name?

A trade name is the front-facing name that customers and clients know your business as. This is why it’s also called a DBA name—the name you’re “doing business as.” A lot of businesses will have their registered business name with the “LLC” or the “Inc.” dropped as their trade name. For example, the Trader Joe’s business name is Trader Joe’s Co., but their customer name will always be Trader Joe’s.

Filing a trade name does not establish a new business–a trade name is simply a nickname for the business you already have. Requirements vary by state and locality, but you’ll usually need to file a trade name if you’re using any name other than your LLC or corporation’s official legal name. Sole proprietorships and partnerships typically need to file a DBA if they’re using a name other than their own last names.

### Benefits of a Trade Name

Having a trade name can be good idea if your trade name is easier for customers to say and remember. Although most people know what LLC or Inc. or Co. means, it can feel cumbersome at the end of a clever business name.

A trade name also does not have to be unique. If you have a really great name that you can’t use as a business name because it’s taken, you can find a way to use it as a trade name (as long as you aren’t infringing any trademark rights). Doing business as whatever name you feel is most memorable and catchy can be achieved, even if you have a different legal business name.

A trade name can also give you the freedom to try out new product or service lines under a different name without setting up a new company.

Registering a trade name also means you can accept payments that are addressed to either your legal business name or your company’s trade name. This makes it easier for clients and vendors because they don’t have to differentiate between your trade name and business name for payments.

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### Drawbacks of a Trade Name

The fact that a trade name is typically not unique can cause problems for your business if someone chooses to use the same trade name. You do have to register to use the trade name, but that does not usually give you the exclusive rights to the name. However, in some states, registering a trade name gives you exclusive access to it. It depends where you are, so you’ll want to look up your local laws and get in touch with an expert to make sure.

In some places, to have exclusive rights to the trade name, you’ll have to get it registered as a trademark of your business. This can be costly and time consuming, and it may be easier to find an official business name that you like and do business under that name. There are a lot of upfront tasks to do when you’re starting a business, and ongoing issues with a trade name can stop you from focusing on the important early stages of your company.

Some states require you to refile for the right to use your trade name as your front-facing name in conjunction with your legal business name. It’s important to keep up to date on these filings so you’re not inadvertently hampering your ability to do business under your trade name. Paying a fee every time could be a financial barrier to having a trade name that is separate from your legal business name.

## Bottom Line

Like any aspect of your business, it is important to do research on the process of picking a name and what is available to you. There will be differences based on the laws of the state where you incorporate or file formation paperwork.

If you end up with a complicated legal business name, finding a trade name that is simpler and catchier to customers could be the right move. To ensure you have the exclusive right to use your trade name, you may have to apply for a trademark for it.

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## Frequently Asked Questions

### What is a trade name for a business?

It is the name that clients and customers know your business as in the “real” world, as opposed to the legal filings with the government. A trade name may be completely different than your official business name, or it may just drop the businesslike legalese ending (LLC or Inc.).

### How do I create a catchy business name?

Use your creativity. No matter what name you choose, you want to make sure it communicates what you do in a fun and memorable way. When coming up with a business name to file legally, make sure you have a few backups in case your first choice is taken. The trade name can give you a little more choice, depending on where you are and what the local and state laws allow.

### Can I use the word company in my business name?

You can use the word company in your business’s legal name if it is a corporation. If your business is an LLC, you must use “limited liability company” or an abbreviation approved by your state.

### Do I need a unique name for my business?

You do need a unique name for your business in the legal business name that is filed with the government. For the trade name, it depends on where your business is located and if the name you want to use has a trademark associated with it.

### What about my website name?

As part of protecting your business name and trade name, you will also want to protect your domain name. You may even want to consider what your business’s domain name will be online when creating your business name and trade name as you want your customers or clients to be able to find you if you plan to have a presence online. Once you decide on a domain name, you need to register it through an accredited domain name registry, which can give you sole access to that name online for several years―as long as you maintain that registration. Keep in mind that you may want to protect your company’s name in several top-level domains (TLDs). This means not only .com, but perhaps .org, .biz and other (TLDs).

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