How to Change Corporate Business Names

The process of changing the name of your business can be quite intensive and often translates into a lot of work. Keep in mind that each state has different guidelines for name changes, so make sure to check regulations in your state before proceeding. The following provides some insight into the process, but you'll still need to conduct some additional research after you've finished reading this.

Difficulty:

Moderate

Instructions

Things You'll Need

• Updated Corporate Legal Documents
• Verification Your New Name is Available
• Completed Forms for Your State
• Completed Forms for the IRS
• New Collateral - Business Cards, Letterhead, Website, Marketing Materials, etc.

1. The first step may be the most difficult -- you need to research the individual rules for each state your business is incorporated in. Check with your secretary of state for rules regarding the proposed change. On the site, you will find the necessary information and forms to start your name change process.

2. Make sure your new name is available. To find out, you can check with your state's commerce department or secretary of state. Most state websites offer online searches to check business name availability. Use these tools to find a new name or to make sure that no one else has rights to the name you've chosen. This process will be similar to the process you took when you first established your business' name.

3. One very important step is to update the IRS with the new business name. When you started your business you should have you registered with the IRS to receive your EIN, or Employer Identification Number. Your record with the IRS needs to be updated during this name change process, so visit the IRS website and follow the guidelines for changing your name there.

4. If your business is not public or if shares have not yet been issued, the directors or incorporators can make the request to have the business name changed. Again, this request will be done with your secretary of state or commerce department. Incorporators may do this only if there are no directors in the business.

5. If shares have been issued, the directors of the corporation must recommend the amendment to the shareholders and the shareholders must approve the change. For a public company, this can be a long process and one that is quite complicated. If you are a public company, you will need to contact your legal staff, board of directors or advisors to begin this process.

6. Don't forget to update your collateral -- there are many updates to items that include your name, that need to be made including your business cards, letterhead, marketing materials, website, street signs, building signs, phone book listings, advertisements and even your voice mail. Depending on the size of your business, this can be a long list and can require graphic design, web design, sign makers, legal staff and other professionals to complete. Make sure you're committed to your new name; this will make all the work worthwhile.

Tips & Warnings

• If you have questions about this process, contact your secretary of state or commerce department or consult a lawyer who will be able to walk you through this process. This is not something you want to risk doing incorrectly.

References

• IRS.gov: Business Name Change