As any new bride can attest, changing your name is a lot harder than you might expect. The same is true for New Jersey businesses…
As any new bride can attest, changing your name is a lot harder than you might expect. The same is true for New Jersey businesses. In addition to the legal concerns associated with selecting a corporate name, businesses must also notify a range of entities of the switch, from the Internal Revenue Service (IRS) to your insurance provider.
Selecting a New Name for Your Business
In New Jersey, the new business name must be distinguishable from other names on the Secretary of State’s database. If your new name is already in use, the registration will be denied and you will have to select another name, which wastes both time and money. It is also advisable to check the proposed new name against existing trademark or service mark registrations.
Trademark law also prevents businesses from operating under names that are likely to be confused for the name of a competing business. Accordingly, your business could face legal liability if you select a name that is already being used to offer the same goods or services in your area.
Switching from Your Old to New Business Name
Once you have verified that the new name is in the clear, you will need to make it official. In most cases, the company will have to amend its organizational documents, such as articles of incorporation and bylaws, to reflect the new name. New Jersey corporations seeking to make a name change must file a Certificate of Amendment to the Certificate of Incorporation with the New Jersey Division of Revenue.
New Jersey businesses must also register the name change with any licensing authority. For instance, the New Jersey Division of Consumer Affairs requires businesses to submit a “filed” copy of the Certificate of Amendment along with a certificate of commercial general liability insurance reflecting the change.
Public companies must also notify the SEC and change their names on the SEC Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. Entities like the Financial Industry Regulatory Authority (FINRA) and the NASDAQ stock exchange also have notification forms and procedures.
The process for changing a name with the IRS depends on the type of business. For corporations that have not yet filed their returns, you can mark the appropriate name change box of Form 1120. In all other cases, it is necessary to write to IRS at the address where you filed your return to inform the agency of the name change. Depending on the legal structure of the business, i.e., sole proprietorship, partnership, corporation, the notification must be signed by the business owner, partner, or corporate officer.
Finally, businesses should also consider notifying customers, vendors, and other key contacts about the name change. While generally not legally required, providing advance notice can prevent confusion and help make the transition proceed smoothly. Of course, it is also essential to ensure that the name change is reflected on the company’s website, marketing materials, business listings, and social media.
Corporate Transactions: Best Practices for Successful Deals
Corporate transactions can have significant implications for a corporation and its stakeholders. For deals to be successful, companies must act strategically to maximize value and minimize risk. It is also important to fully understand the legal and financial ramifications of corporate transactions, both in the near and long term. Understanding Corporate Transactions The term “corporate […]
How to Conduct a Fair and Legal Employee Termination in 2025
Ongoing economic uncertainty is forcing many companies to make tough decisions, which includes lowering staff levels. The legal landscape on both the state and federal level also continues to evolve, especially with significant changes to the priorities of the Equal Employment Opportunity Commission (“EEOC”) under the Trump Administration. Terminating an employee is one of the […]
Admin Dissolution for Annual Report: What You Need to Know
While filing annual reports may seem like a nuisance, failing to do so can have significant ramifications. These include fines, reputational harm, and interruption of your business operations. In basic terms, “admin dissolution for annual report” means that a company is dissolved by the government. This happens because it failed to submit its annual report […]
Antitrust laws are designed to ensure that businesses compete fairly. There are three federal antitrust laws that businesses must navigate. These include the Sherman Act, the Federal Trade Commission Act, and the Clayton Act. States also have their own antitrust regimes. These may vary from federal regulations. Understanding antitrust litigation helps businesses navigate these complex […]
Dissolving Your Business: Essential Legal Steps to Protect Your Interests
If you’re considering closing your business, it’s crucial to understand that simply shutting your doors does not end your legal obligations. Unless you formally dissolve your business, it continues to exist in the eyes of the law—leaving you exposed to ongoing liabilities such as taxes, compliance violations, and potential lawsuits. Dissolving a business can seem […]
The Role of Corporate Restructuring in Mergers & Acquisitions
Contrary to what many people think, corporate restructuring isn’t all doom and gloom. Revamping a company’s organizational structure, corporate hierarchy, or operations procedures can help keep your business competitive. This is particularly true during challenging times. Corporate restructuring plays a critical role in modern business strategy. It helps companies adapt quickly to market changes. Following […]
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!
