Many people believe that simply by incorporating a corporation or forming a limited liability company they will be entitled to exclusive use of the name.
When starting a business you will face many choices, one of which is the form of entity to be used. Choosing the best entity involves many considerations including limited liability, partnership issues, public perceptions and tax considerations. The considerations for each business are different and must be evaluated in order to reach the best decision. What might be best for a lemonade stand probably would not be best for a machine shop. The possibilities include:
The name of your company and the slogans and logos you use with your products or services are called trademarks or servicemarks and are used by consumers to identify the source of the products or services. If your business would suffer if someone else used your name, slogan or logo, then you should proactively take steps to protect these. Although a “common law” right in your trademark is acquired by use, it is very difficult to enforce common law trademark rights unless the mark is registered.