Business Name Vs Company Name

Usually every one use the term company as business and business as company but there is a primarydifference in between of them that is the company name is a whole name of legal entity while the registration of business name is obligatoryregistered if any other individual or partner carries on business other than your name.

Business name vs company name. They do not consider the legal implications of each structure. Business name vs company name. It is also often referred to as a trading name.

A business name can make you look more experienced and well established. If you are a sole trader your business name might simply be your first and last name for example john smith. Advantages of using a business name.

Though there are clear cut rules and regulations pertaining to both business name and company name in australia many still think of both being same because of similarity in names of these two terms. Majority of business owners just want to register a business and get it running without regard to the difference between business name and company registration. If you are not taking over the vendor s company name adding a clause to your agreement for sale and.

For example nike inc. Is the business name of the nike company. On the other hand a brand name is the name provided by the company to distinguish its products and services from the other companies.

As your company grows using a business name will allow you to have much more flexibility in future. A company name on the other hand is separate legal entity registered with asic. Company name is the name associated with an organization working in order to achieve profits in the field of commercial business.

Using a business name usually allows you to charge more as it makes you look like more than a one man show. It is not surprising that prospective business owners are not familiar with the formalities of deciding what type of business to register. Your business name also referred to as your trade name is the name that you register with your state to operate.