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Mar 16, 2012 · Paypal only supports the concept of a "trading name" for sole traders who may change their trading name as they see fit but may only have one trading name at any one time. For limited companies who trade under different names there is no support and you will have to use an alternate payment processor.
- What Is A Trading Name?
- Advantages of Using A Trading Name
- Legal Implications When Using A Trading Name
- Other Legal Implications
- Key Takeaways
Any time anyone does business under a name other than their legal name, they use a trading name. This is also called a business name. It includes individual people operating as sole traders and incorporated businesses like companies or limited liability partnerships (LLPs) operating under a name other than what the business is registered as.
As a sole trader, there are obvious reasons why you might want to trade under a name other than your legal name. Classic as a name “John Smith” may be, it may not be the brand you are going for if you are selling beach-themed goods. At the same time, be aware that there are many circumstances where you mustdisclose your company’s registered name. T...
General Restrictions
For both incorporated and unincorporated businesses, there are some common restrictions on names you cannot trade under. In general, you cannot use as a trading name anything that: 1. suggests an affiliation or association with a public body or government authority; 2. contains sensitive words or offensive phrases; 3. is suggestive of any proscribed terrorist organisation or group; 4. makes use of any legal indicator such as “Limited” or “LLP” unless you trading under that legal business stru...
Sole Traders and General Partnerships
Sole traders and general partnerships are the most common type of unincorporated business in England and Wales. Notably, unincorporated businesses do not have a separate legal personality from their owners. While the business itself cannot own property or assume its own debts, the law permits you to operate your business under its own business name. This is provided you adhere to the restrictions on what you can trade under. Additionally, there are no real formalities to start using a trading...
Companies and Limited Liability Partnerships
You may do business through a name other than that which you are registered with Companies House. In that case, there are certain situations where you must disclose the name which your private company is registered. For example, when: 1. issuing any “promissory notes” (a promise to make a payment at a later date), “bill of exchange” (a promise to exchange one piece of property for another), or similar documents; 2. using any official business correspondence including letter-heads, official pu...
Trademark Protection
Just because you trade under a particular name does not grant you automatic intellectual property rights over the use of that name. Therefore, you should also seek to secure any intellectual property rights you may have over your business’ branding and marketing. For example, you can makeappropriate applications with the UK Intellectual Property Office. Likewise, you can seek the advice of an intellectual property solicitor if in doubt.
Trademark Infringement
Likewise, if you trade under another company’s name or brand, you can be liable for trademark and other intellectual property rights violations. Moreover, in certain circumstances, you can be held liable for the civil wrong of passing off. Be aware that this can result in substantial fines and other civil penalties. Therefore, before tradingunder a name other than that which legally belongs to your business, you should undertake the appropriate steps to ensure you have the right to trade unde...
As a business owner, you may have several different reasons for wanting to trade under a name other than your business’ official name. For instance, as a sole trader, you may want to trade under a name different from your legal name. In addition, you may want to sell certain products or services under a different brand name. The good news is that, ...
May 30, 2024 · 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...
- 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 n...
- 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 w...
- 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 comp...
- 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 y...
- 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 bu...
Jan 23, 2024 · In this article, we will explore both the benefits and restrictions of using a trading name vs a company name, as well as the factors a business owner should take into consideration before opting to go down this route.
Feb 12, 2019 · Trading names. You can also trade using a different name to your registered name. This is known as a ‘business name’ or ‘trading name’. Trading names must not: be the same as an...
Differences between a business name and a trading name. Your business name is the name you’ve officially registered with Companies House. Business names need to meet a few requirements, and they cannot: Be offensive. Be the same as an existing registered name or trade mark.
People also ask
Can I trade with a different name?
Can a business use more than one trading name?
Can a company name be a trading name?
What is the difference between a trade name and a business name?
Can I trade under a different name as a business owner?
Is it legal to use a trading name?
It is possible to officially register a company name at Companies House, but then use one or more ‘trading names’ as required by yourself or your organisation. Some companies trade under different names, with the name registered at Companies House belonging to the original company.
