A significant amount of time and planning goes into opening a business. While working to put plans into action, there are certain things potential business owners need to do, including acquiring any permits required by the state and applying for a company name. In Michigan, and other states, those businesses that are considered limited liability companies have to go through an approval process before their company name is officially permitted for use.
Coming up with a company name may be easy for some business owners. Unfortunately, there are certain guidelines that must be followed for a limited liability company’s name to be approved. The Department of Licensing and Regulatory Affairs has made available the guidelines that must be followed by limited liability companies when choosing a name. These include:
- Name must be clearly different that other corporations or companie
- Name cannot include words corporation, incorporated or the abbreviations for these words
- Any assumed names must also be approved and an Certificate of Assumed Name obtained
Once a naming application has been approved, the company owner is allowed to keep that name on reserve for up to 180 days — if the business is not ready to open its doors. After that time, applications will have to be resubmitted. If the name is rejected, a new name will need to be submitted and the approval process will start all over again.
The naming of limited liability companies can take time. Legal assistance may prove helpful in ensuring any chosen name meets the State of Michigan’s’ naming requirements. Further legal guidance may also be needed to ensure the approved name is legally protected from use by other companies.
Source: michigan.gov, “Naming a Limited Liability Company“, Accessed on March 30, 2015