Using Your Surname in Your Business Name - Advantages and Disadvantages

Before starting your own business you need to identify if you are going to use your surname as the business name. You need to identify your name since you need it to acquire the DBA license.

Things to Consider When Choosing a Business Name

Step 1: Live on - The reason why many people use their surname in their business name is because they want their name to linger and still be part of the business. This often happens when you have plans of incorporating your business. It will leave a legacy on the company. Take for instance Ford. Henry Ford started his company in the early 20th century and even though he has long passed, we still know him and remember him today as someone who provided a comfortable means of traveling. Most of the corporations that are popular automakers carry on his name at present.

Step 2: Belittles your company returns - The trend of using your surname as your business name is essential if you want name longevity, this may also halter the interest of your business. Think about Martha Stewart. Prior to her captivity, the name Martha Stewart Omnimedia gained a positive impact and this made her rich. She was involved in the pre-existing knowledge of stock trading that was illegally operated, her firm diminished to $200 million. She was encouraged to trade distributors from companies namely Kmart and Macy's to Walmart selling her products at really low cost just to make a profit out of it. Her company was close bankruptcy as she turned herself into a domestic figure in pop culture. It is therefore important to note that your company name and the company itself is equivalent to your name and reputation.

Step 3: Think over the trademark limitations - One reason why you may not use your surname in your business name is you might not be able to trademark certain concepts or goods. If your surname is unique or has even no resemblance, then you can trademark it through the Trademark Office. Make sure that you have the help of trademark attorney to see to it that your name is not in yet exposed at any time period before going on with the process.

Step 4: Carries the brand of the family - There are many existing firms that have been around for more than half a century like McDonalds and Hilton Hotel. For instance, Donald Trump was able to carry the business of his grandfather along with the family name which sounds appealing and reverberating in the minds of many consumers.

Step 5: Consider other implications - If you are given the chance to acquire for the general trademark, then you may get a federal trademark and patent incorporated with your family business. It is the US Patent and Trademark Office that will allow the use of nationwide acknowledgment. They will also grant the trademark and patents the surname in accordance to its uniqueness and if it can generate benefits in the minds of consumers over the regular name of the business.

It is therefore important to weigh things before you decide online business idea like using your surname in your business name.