Establishing Trade Names in Alberta
A trade name lawyer helps you when you are ready to start a business in Alberta. After you have the products or services sorted out that you want to deliver to the world, you must decide how you are going to introduce your new business. This includes choosing and registering your trade name. The trade name lawyers at Calgary, Alberta based Kahane Law Office are there for you from start to finish. Call now 403-225-8810.
Your First trade Name Consideration
It can be exciting to determine what your new business name will be. However, before you get carried away determining the trade name that will fit your brand, there are legal aspects to take into consideration. Before registering a trade name, you must make sure that it is not take as a business name and that it will not violate any registered or common law trademark. There are also other trade mark law considerations in case you want to later register the name that your trade name lawyer can help with.
Types of Trade Name Ownership
A trade name can be owned in a variety of ways. It is also possible for one of the below entities to own more than one trade name at the same time. Make sure you ask your trade name lawyer the pros and cons of the different ways. The following are the most common.
When you run a business as the sole owner, under a name other than your personal name, you will need to register this trade name. When you run a sole proprietorship, you personally take on all of the debts and liabilities of your business. The trade name will be registered to you personally.
A corporation can own a trade name. Our trade name lawyers will work with you to make sure that ownership is properly in the name of the corporation to ensure that you maintain the legal benefits of corporate status. This includes both liability and tax benefits. If you need our law firm to incorporate your business, we can do so at the same time as registering your trade name. Learn more about the benefits of incorporating here.
As outlined by Service Alberta, there are four different types of business names that can be registered.
If you have one or more individuals working with you to run your business, and you share the debts and profits with these individuals, you have a partnership and will need to register a partnership name.
A limited partnership is a partnership in which there are general partners and limited partners. The types of partners are determined by each individual’s roles, responsibilities, and contributions to the partnership.
Limited Liability Partnership
A limited liability partnership is similar to the other types of partnerships, except that there are liability protections in place. As a partner in this type of business, you are not liable for any responsibilities that arise from the poor actions or negligence of the other partners. This type of partnership consists of practitioners or corporations. While general partners are typically responsible for the liabilities and profits of a business, limited partners are generally responsible only for what they have contributed. In regards to business names, The Partnership Act states that the surname of a limited partner is not to appear within the partnership name, unless there is a general partner who has the same surname.
How to Register a Business Name in Alberta
Registering a trade name in Alberta is fairly simple. Our trade name lawyers will search to make sure the name is available to be registered. We will then register the trade name to the entity that you wish. Do not hesitate to ask us regarding the best way to own your trade name. Once you have made these requirements, you will receive confirmation that you have registered your trade name.
Why Trade Name Law Firms?
Since the registration and use of a trade name can have financial and legal ramifications, it is best to have a trade name lawyer assist you in the registration. Only a lawyer can give you legal advice and direction that you need to avoid costly mistakes.
What if Other Businesses Have the Same Name As Yours?
In Alberta, there are very few restrictions regarding what you can name your business. The Partnership Act does not stipulate that your business name must be original. However, if you do choose a trade name that is the same as, or similar to, another business, corporation, or a trademarked entity, you could be taken to court over this issue. It is less expansive to have a trade name lawyer research you choice of name prior to registration than it is to change the name after the fact. The registering of your trade name should be taken seriously, as this allows consumers and other businesses to find your business and learn more about you. Also, you are legally required to register your business name any time you conduct business in Alberta using a name other than your own. To ensure that you complete this process correctly, consult with a trade name lawyer at Kahane Law Office.
Trade Name Lawyers in Calgary
The Lawyers at Kahane Law Office can help with your trade name registration needs. CONNECT NOW. We can be reached at 403-225-8810 locally in Calgary, Alberta or toll-free at 1-877-225-8817 or email us directly here.