Choosing the right business name for your LLC is one of the most important decisions you will make as a business owner. Luckily, this process is relatively simple and can be done with just a little time and effort.

First, you need to brainstorm potential names. Doing so will help you create a list of a few possible options for your LLC. Next, you need to check each name's availability through your state's secretary of state's business name database website.

Limited Liability Company

A Limited Liability Company is a business structure that can be taxed like a partnership, but also protects the shareholders from liability beyond their investment. It is a very popular choice for small businesses that are looking for a way to combine the pass-through taxation of a partnership with the limited liability of a corporation.

To form an LLC, you must file Articles of Organization or Certificate of Formation with your state’s Secretary of State. Depending on your state, the process may include obtaining an EIN or tax ID number, registering with the IRS, and more.

Your LLC name is your business’s identity, so you want to choose a name that will stand out from the competition. Naming your LLC company is an exciting part of the startup process, but it also requires careful consideration.

A good name for your LLC should be short, memorable, and unique. It should also be easy to spell and say, and have a positive connotation.

Limited Liability Partnership

A Limited Liability Partnership is a business structure that allows the owners to have limited liability and pass-through taxation. These characteristics make LLPs a popular choice for businesses.

LLPs are typically seen in professional practices like law firms, accounting companies, medical services, and wealth management. LLPs offer many advantages to business owners, such as liability protection, pass-through taxes, and the ability to add new partners to help grow your company.

An LLP is also a popular option for individuals who are considering starting their own business. LLPs allow owners to set up their business with ease and without a lot of paperwork and fees.

In India, LLPs must be registered under the Indian Companies Act of 1991. The Registrar of Companies issues a Certificate of Incorporation. This is the proof that you have established your business. During registration, you must choose a name that conforms to the laws of the state in which you are operating your business.

Limited Partnership

A Limited Partnership (LP) is a type of business structure that incorporates general and limited partners. It’s a common business model for capital-intensive industries and small businesses, such as real estate and manufacturing firms.

A limited partnership is an attractive business structure because of its liability limitations. For example, in a real estate venture, general partners may direct daily maintenance and rent tenancies, while limited partners will only benefit from a portion of the income or resale of the property.

LPs are also often used in professional service businesses, such as accountants, lawyers, architects, doctors and dentists. In these cases, the LLP is a good choice because of the tax benefits.

To set up a LP, two or more partners must file a certificate of formation with the Secretary of State in their state. They must also make a written agreement to govern the business and document their roles and responsibilities. This process is called chartering the partnership.

Corporation

A Corporation is a type of business structure that is legally separate from its owners and has the power to enter into contracts, own property, and incur debt. They are also allowed to issue stocks to shareholders and investors to raise capital.

The most common type of corporation is the C Corporation, which requires its shareholders to pay corporate taxes and report company distributions on their personal tax returns. Shareholders can choose to pay their taxes as an S Corporation, which is a pass-through entity and has fewer restrictions on owners.

State laws require that your business name contain certain words identifying your business. For example, a Corporation's name must include the terms "Incorporated," "Corporation," or an abbreviation like Corp., Inc., Co., or Ltd. In addition, an LLC's name must include the terms "Limited Liability Company" or an abbreviation like L.L.C., LLC, or LC. All of these terms are required for an LLC to be considered a legal business entity in the state it operates.