How Hard Is It To Change The Name Of My Company?

At some point throughout the course of owning a business, you may find that the name your company has been operating under no longer suits it. You might wonder what it takes to change the company name, especially considering that this is the name that is used in important articles and other organizational documents. 

There are several routes you can take and things to remember when trying to change the name of your company. Learning what your options are can help you find the best course of action for you.

Amending Articles 

One option is to officially change the company name by amending its articles and filing those with the state offices.  The amendment must then be properly approved by the directors and owners. Once that name has been changed, you need to notify everyone that you work with as soon as possible, such as suppliers, customers, the IRS, etc. 

If you have bank loans, you will likely need to tell the lender and order new checks, and the lender will need to refile to protect their security interests. Additionally, you need to tell the building where your offices are located to change the signage and phone company to change your phone listings, as well as update your letterhead, website, business cards, and marketing materials.  

Adopting a Tradename

Another option that may prove easier is to adopt a trade name for the company while keeping its original name. You can file the trade name with the state offices.

Since the original name is still the company’s official name in this case, there is less of a need to notify everyone.  You also do not have to act as quickly and can decide who needs to know over time.

However, you will want to tell your customers and make sure that you market yourselves appropriately to avoid confusion. Your building signage, letterhead, website, business cards, and other marketing materials should be updated over time.

Legal Guidance

Our team at MKP Law can answer legal questions you may have about your business.

For information about updating your business name, reach out to us today, and we can walk you through your options.