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    Sep 5 12

    Naming Your Business Matters

    Newport Beach Law Firm

    There are a number of reasons you might want
    to put your name on your business.

    But before you launch your eponymous company,
    project yourself into the future—the very reason you’ve chosen to name your
    company after yourself may be the reason you shouldn’t.

    When it comes to forming and
    operating your business, sometimes thinking about where to begin means thinking
    about where you will end. For the family business, or the succession-minded
    businessperson, the stumbling block is often the basic question: what do you
    name the business? Should your business bear your name, or should the family
    business bear the family name?

    While some may consider the
    decision a matter of personal or family pride, or even a matter of vanity, that
    doesn’t mean there aren’t important issues in play. The consequences of naming
    your business was tackled recently by Forbes in an article titled “How Having Your Name On Your Business Limits
    Your Options
    .”

    The essential point, however, is
    that putting your name on the company forges an inextricable link. On the plus
    side, this can be a boon if your business and brand do well, especially if your
    heirs carry on the business. On the down side, doing so may not be in the best
    interests of the business, or even your heirs.

    The original article is a quick
    read for a review of some practical considerations and problems. In the end,
    this decision is a tough one.

    Reference: Forbes
    (August 17, 2012) “How Having Your Name On Your Business Limits
    Your Options




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