Would it be bad for business to change your company's name because you form a partnership?

Any thoughts?

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Nikki Anderson
Owner, LGC Virtual Services

If you already have a broad client base that is familiar with your name, I would say maybe file for a fictitious name and do a d/b/a

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Cindy Leli
Your Secretary Cindy, LLC

I agree with Cindy - it would depend on how long you've been in business and how much of a change you're considering making.

If you're thinking of going from LGC Virtual Services to LGC and Partners Virtual Services (or similar - where you're keeping the original brand intact), well then I can see it's not too much of a stretch.

I'd also look at how much you have invested in your current marketing materials (brochures, business cards, etc.) and how much it would cost you to update. Not to mention closing the old business registration and opening a new one which you'd have to do anyway.

I think Cindy's solution makes good sense.

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I'm in the process of changing mine because I am removing a partnership ( someone who did zero work! ). I have nothing invested other than a domain and an EIN...oh and a state registration fee. The state said it will cost me 50 bucks to do a name change ( we were an LLC ) and the EIN is free to change in my case as long as I provide a letter from the state I live in. In my case, I'm changing mine because the name reminds me of the person since she put more into naming us than I did. I think cindy's solution sounds great for you though. In my case I want as far away from the name as legally possible.

Good lucK!

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Dani
http://www.danimagestro.com

We have had a carpet cleaning business for many years. As our business has expanded, we have changed our name slightly. We have gone from RT's Carpet Cleaning, to RT's Floor Care, to now simply RT's Cleaning. This way we have kept the brand recognition aspect of our company name, but have change it enough to reflect our other business operations. Maybe something on this order would work for you.

My hubby mentioned something along the lines a week ago in regards to his business name. He registered it long ago. The company is incorporated. He can start up new business ideas and use new names. As long as somewhere he lists that this is a division of... he can change the name to whatever. With that said you would have to check into it for your state. We live in Ontario Canada.

That strikes up the possibility of the two of you starting a business name that is completely different and then each of you use your original names and say you're a division of XXXXX.

One big thing to remember. Whether you change your name or not, your bookkeeping will change. Make sure you know what has to happen there too.

Kim

I think its okay I wouldn't 100 percent suggest it if you have a nice client base. It takes a lot of updating on what you already have, I think a small change won't hurt.

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