What to Name My LLC: Everything You Need to Know
When naming your business, think in terms of your service or product and what type of connection you want with consumers through your business name.3 min read
Have you asked yourself "what to name my LLC?" Naming your business is as important as deciding to start a business. When naming your business, think in terms of your service or product and what type of connection you want with consumers through your business name.
What Is a Limited Liability Company
- Like a corporate entity, an LLC gives its owners (known as members) liability protection.
- LLCs benefit from pass-through taxes — similar to sole proprietorships and partnerships. This means profits and losses are added to the members' tax returns according to member profit distribution.
- While an LLC must register with the state, the requirements are less strict than a corporation.
- An LLC has flexibility in how they distribute profits and manage their operations.
Importance of a Good LLC Name
Invest time and effort into naming your LLC. Do not underestimate how important it is to pick a name that connects with your customers. Your name is a brand asset and will increase in value when you launch your company — if you invest time and your intellect when naming your business.
Tips to Keep in Mind When You Are Brainstorming Options for Your Name.
Make your name something memorable so that your customers easily remember not only the name but the service or product associated with the name. Here are a few tips:
- Make your LLC's name simple and easy to spell. You want a name that your customers can look up with ease.
- Keep the name as short as possible. It helps customers remember your name and takes the complexity out of getting customer referrals.
- Pick a name that stirs up good feelings for your customers. Consumers remember positive experiences so let your name match the experience you want to give your customers.
How to Choose an LLC Name: Brainstorm a list.
Brainstorming is a method that can help you name your business. It allows you to list ideas without any constraints. When you conduct a brainstorming session, do not give feedback on the names. You will get a chance to do so after your brainstorming session is complete. If you have partners, make sure you involve them in the business naming process.
Knowing your consumer demographics and psychographics can spur creativity. Furthermore, you and your partners should all have the same mission, vision, and purpose of your organization. Brainstorming is simple. First, select a predetermined amount of time, perhaps five or ten minutes, to write down names. You may want to give everyone a sticky pad and place and have your team place each sticky pad in a central location (e.g., a wall or a conference table) as they write it.
How to Choose an LLC Name: Narrow Down Your List.
Now it is time to narrow down the names. Remove all the names that do not fit with the business. Narrow the names down to the top five and put them in order of preference. After your final picks, keep the following in mind:
- You cannot register a name that another business is using. You should be able to check the names either online or in the office that oversees business registrations.
- Make sure your name does not violate any existing copyrights or trademarks.
How to Choose an LLC Name: Make It Legal
Most states require an "LLC" at the end of your business name. For example, you can use “Limited Liability Company,” “LLC,” or “Ltd. Liability Co.” Check with your state business office to find out all your options. Additionally, most states have restricted words, such as bank or insurance. You cannot use restricted words in your company name.
Naming your business is exciting, and it presents your first connection with your customers. Once you select your name, register your business with the state. The name is not yours until your company is registered. You register your business by filing your articles of organization. Once you submit these to the state, they will register your business name.
If you need help naming your LLC, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.