Guidance For Selecting A Corporate Name

There are several issues that you need to consider when choosing a name for your corporation.

Name Availability - First, your corporate name must be available in your state. Thus, you will need to either check your desired name online, if your state offers online searches, or you must make a phone call to your state's Secretary of State to check the availability of your corporate name. CLICK HERE FOR INFORMATION ON NAME CHECKS

Illinois permits you to reserve a corporate name for up to 90 days in advance of filing. The filing fee for a name reservation is currently $25.00. If you wish to reserve a corporate name in advance, review this material and complete the state provided forms. CLICK HERE

Illinois Law specifies that a corporate name must be distinguishable from other corporate names. If you do not check for availability first, and someone has already incorporated under your name, your filings will be returned to you and you will need to resubmit using a different corporate name.

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Corporate Law Considerations - Illinois Law requires your corporate name to contain the words "corporation," "company," "limited" or "incorporated" or the abbreviations of these words.

In addition, your corporate name may not (1) contain language stating or implying that the corporation is organized for a purpose other than that permitted in this act and its articles of incorporation; (2) contain language that infers that the corporation is invovled in insurance, assurance, banking or as a fiduciary; or (3) contain language stating or implying that the corporation is connected with a state or federal government agency or a corporation chartered under the laws of the United States.

Fictitious Names - You may use only your correct corporate name in your business. If you use any other name in your business, you must file a fictitious name registration to permit you to use such name.

Federal Trademark Considerations - Your corporation name, even if available in your state, should not violate the federal trademark rights of any other party. It is strongly suggested, especially if you are doing business on the Internet, that you perform a trademark search to be certain that your name will not infringe on someone else's trademark rights.

Protecting Your Name - The fact that you incorporate under a name does not of itself protect your name from use by others. All incorporation means is that noone else will be able to incorporate using the same name in your state. If you consider your corporate name or any other name used in connection with your business to be a valuable asset, you should take further steps to protect the name from use by others

 

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