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Changing a business name is a major decision for an entrepreneur to make. It can drastically and dramatically impact a company, which is why experts advise a company considering a change to approach it with caution.
No business owner should make a name change simply because they are bored with their current one. A name change, aside from the legal process involved, is a costly endeavor due to the business and marketing changes it requires - new business cards, stationary, any and all marketing and sales materials and a company's website, to name a few.
"Even the smallest business brands its products and services with its name," Jeff Wuorio wrote for Microsoft.
"If, for instance, you acquire a family-named business with a long-established history associated with that name, determine whether it's feasible to expect that a new name will hold onto even a portion of that valuable branding," he added.
In cases such as this, it may be best to simply hold onto the old name and explain to customers that the company is under new management.
This article is brought to you by Vcorp Services – Vcorp offers executives, attorneys, accountants, and entrepreneurs an extensive suite of services including entity formations, state filings, document retrieval, tax-exempt filings, UCC filings and searches, 501c3 filings and more. www.vcorpservices.com
No business owner should make a name change simply because they are bored with their current one. A name change, aside from the legal process involved, is a costly endeavor due to the business and marketing changes it requires - new business cards, stationary, any and all marketing and sales materials and a company's website, to name a few.
"Even the smallest business brands its products and services with its name," Jeff Wuorio wrote for Microsoft.
"If, for instance, you acquire a family-named business with a long-established history associated with that name, determine whether it's feasible to expect that a new name will hold onto even a portion of that valuable branding," he added.
In cases such as this, it may be best to simply hold onto the old name and explain to customers that the company is under new management.
This article is brought to you by Vcorp Services – Vcorp offers executives, attorneys, accountants, and entrepreneurs an extensive suite of services including entity formations, state filings, document retrieval, tax-exempt filings, UCC filings and searches, 501c3 filings and more. www.vcorpservices.com
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