By Mark Pierce, Esq.
A holding company is a business entity — usually a corporation or limited liability company (LLC) — that does not engage in the buying and selling of products or services. Instead, it exists for the sole purpose of owning and controlling other businesses or investments.
When starting a new holding company, choosing the right name for the company may not be your number one concern, since getting the company properly formed and structured is more important, it should be high on your list of priorities.
The name you choose will be your company's face to the world as well as the very foundation upon which you build your brand. This is why it is a process that should not be taken lightly.
You want to choose a name that is memorable, descriptive, creative, to the point, catchy, and leaves a meaningful impression. With all these criteria to fulfill, choosing a good name for your holding company can seem like a complicated process.
Service: | Wyoming LLC Holding Company Formation |
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Turnaround: | 24 Hours |
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So, here are several useful tips to help you choose the ideal name for your holding company:
It can also be helpful to draw from inspiration when choosing a name for your holding company. Think of a company that you admire. How did they decide upon their business name? Can you employ the same process?
Then investigate your competition. Analyze how your competitors are naming their businesses and be sure to choose a name that is neither too similar nor too different from their business names.
It is best to avoid using a name that binds your holding company to a specific geographical location, Decatur Investment Inc., or New York Holdings. Also, avoid names that pigeonhole your company into a certain line of business, like Omaha Realty or Tasty Burgers.
If you plan on establishing a web presence, then It is also important to perform a search to determine if the URL is available. Acquiring the URL for your chosen business name will help eliminate confusion. You may discover that XYZ Company would make a great business name, only to find out that someone else has already registered xyzcompany.com as a URL. If so, you will need to factor in the cost to acquire the URL or choose a different business name to avoid any confusion down the line.
Choosing the right name for your new Wyoming holding company is important. Your company’s chosen business name will be the face of your business and often its first chance to make a good impression.
The name you choose for your holding company should be legal to use, competitive, marketable, and incorporate your company's core values and goals.
For more helpful advice on selecting the right name for your Wyoming holding company, contact us to speak with a representative. An experienced Wyoming business law attorney is available for an additional fee. While we can't help you choose a business name, as that's very personal, you can share a name that gives you a leg up on your competition, and we can see whether it's available.
Choose a name that is marketable. Remember, your company's name is its face to the world. So ask yourself, does it leave a strong impression? Is it too long? Is it easy to spell and pronounce? Can it be associated with a tagline? Does it have a theme that can be visually displayed?
Also, research the name's definition to ensure that it doesn't have an alternative meaning that could harm your reputation.
When you file your formation documents with the state, they will check to make sure that the name you submitted is not already being used in that state. If it is not available, you’ll be required to choose a different name and file your formation documents again, often after losing your initial filing fee.
You should be able to conduct an independent name search through the Secretary of State’s website (or other relevant business registration databases) to find out if a name is available to be used.
You may also want to search the US Patent and Trademark Office's website to determine if your chosen name has been registered as a trademark. This will help you to avoid a costly trademark infringement later on.
If you have any reason to believe that your chosen business name might infringe on someone else's trademark, you should consult with a qualified intellectual property attorney. A trademark violation can be very costly and is no trifling matter.
If you are ready to establish a holding company and have any inquiries, please don't hesitate to contact us. Our experienced team of paralegals is available to provide guidance and support throughout the process. You can reach us by filling out the contact form or giving us a call at +1 (307) 683-0983.
Choosing the right name for your holding company is an important step, consider the helpful tips and examples provided in this article. Finding a name that is memorable, flexible, and legally available is vital in creating a strong brand identity for your business.