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Trade Name Or Fictitious Name Registration Update Sos State Oh Inquiry Instruction

hey everybody this is Seth can eat can.even a real today I'm going to show you.how to file for a fictitious business.name and I'm also going to explain what.is it for and do you actually need it.for your business.hey everybody this is Seth can eat can.even a real this channel is to teach you.how to build passive income one of the.big parts of passive income is setting.up your business right if your business.is not set up correctly you can get into.tax issues you can also get issues where.people are using your logo or your brand.and you have no way to protect yourself.and so today I'm going to talk about.fictitious business names now this comes.under a lot of different terms some.people call it a DBA.doing business as some states and.counties call it an assumed business.name others call it a fictitious.business name as I mentioned and others.call it a trade name they're all the.same thing though a fictitious business.name is simply this when you register.your company with the state or in a city.or district the name that that company.is as its own identity is one thing so.for example if I go in and I say I want.to start a business the simplest way.possible just to me I don't want to set.up anything big and fancy we're not.gonna go public then I'll set up a sole.proprietorship very low fees very simple.now this means that the name of my.business is me Seth penny and my social.security number.is the number that identifies my.business which is also me me and the.business are one and the same.so when I pay taxes at the end of the.year my all the money my business makes.is personal income there's no separation.from corporate income my company's.income and my personal income it's all.in the same now let's say my business is.creating really cool clothing for cats.and I want to market my business as.Florel felines how do you like that the.problem now is if I want to go out and.do business as Florel felines I need to.come up with an a fictitious business.name or a DBA doing business as or a.trade name or a soon business name.because if I'm going to do business with.an under a different name I have to file.for that with the state or the county in.order for it to be legal this not only.protects me it helps to preserve my.identity but also protects the customer.in case you know their cat tried on the.suit and it somehow was allergic and the.cat got sick and they wanted to sue me.for the vet bill.and now therefore they have to know who.they're suing or if they sue floral.felines but that's not really my.business name who is it so it becomes a.legal issue in most states you're.required to file for a fictitious.business name and it's much more.marketable to be advertising as floral.fee lies instead of saying oh this is.Seth cape and I'm you know making.clothing for owners of cats let me give.you another example or why someone would.file for a fictitious business name.let's say you're a partnership and by.the way in most cases it'll be a sole.proprietorship or a partnership that.will file for a fictitious business name.usually a corporation or an LLC don't.need to because when you go in and file.as a corporation or as an LLC that is.your name in other words the name of.your corporation is your business name.and in some rare situations you might.want to do business under a different.name than your legal entity and that's a.different scenario but not as common but.let's just say a lady named Suzie Q.decides that she's gonna go out and.start a business so she sets up a sole.proprietorship that means the name of.her business is Suzie Q if that's her.name.the problem is that's not a great name.if she's selling toe massage equipment.she doesn't want her toe massage.equipment to sound like a Twinkie so she.needs to decide how am I going to market.myself so she decides to register a.fictitious business name called toe.massage elites and therefore with the.state or the county it depends on the.state every state is different she goes.in she registers and now they have that.name on file as her doing business as.name or her fictitious her fake business.name when she files for taxes it'll.still be under Suzie Q because that's.the legal entity the fictitious business.name is not a legal entity it's just in.this case for marketing purposes the.closest example I can think of is think.about why an actor would use a stage.name for example in 1946 Marilyn Monroe.did not start with Marilyn Monroe that.was not her real name she coined that.name it was a pull off of her mother's.maiden name and they coined that in 1946.because it sounded more Swift and more.sexy and more catchy Marilyn Monroe has.its own cadence that's not her real name.it's her stage name just like a business.you might be doing your business name as.a sole proprietorship my.the susie-q but your business name to.your customers is gonna be called toe.massage elite and that's why you have.that distinction now some people do it.to help protect their identity other.people do it because it's more.marketable but is the third reason.people might do it pretend that you have.a side business of selling hydrated.yokes on eBay and your dry frizzy Oaks.how about that and that's only 10% of.your income but your main income over.here is clothing for cats or for cute.kitties floor or feline business both of.them are under the LLC which you have.called you've registered as Z industries.so over here you might register a.fictitious business name for your fall.or felines and over here you register a.DBA or a fictitious business name as.freeze-dried yolks in other words you to.your customer these are two separate.businesses they don't know it's the same.company but it doesn't matter the main.company is Z industries these two are.just DBAs fictitious business names when.you file taxes you'll follow them all in.one under z industries because that's.the legal entity when i was 16 years old.i wanted to become a professional.magician so i went in and i registered.my first business as a sole.proprietorship in california and i had.to go to the city clerk and i had to.register a fictitious business name red.and blue magic and entertainment i.became a professional magician i was.also a professional tap dancer i did.this for a living in my late teens and.early 20s and I was good at it now that.was my first experience now why wouldn't.I want to market my business as Seth.Kinney well first of all keep is really.hard to know how to pronounce unless you.hear this phrase can even reel in second.red a blue magic and entertainment just.sounds better then Seth can eat so it.was marketable so I had to go in and.what they do and this is in most states.and counties is you have to search a.database to make sure no one else is.using that same name if no one else is.using the name you can use it and.typically there's a fee anywhere from $0.like North Carolina up to $200 like.Georgia but usually is between 25 and 50.dollars it's not that expensive so I.registered my fictitious business name.and I began doing business under that.name even though the legal entity was.still Seth can eat when I pay taxes at.the end of the year I filed as Seth.it was my own personal income as a sole.proprietorship now how do you know when.to file for a fictitious business name.you'll need to do it approximately 30.days before you start because usually it.takes up to a month in order to get.feedback from the city or the county.clerk to know that it's been accepted.and in most places you can do this.online which is really really nice.so give it at least 30 days so that way.you can start legally and there's no.issue now not all states require this.some states you don't have to register.at all like New Mexico in other states.it's a big deal you must register like.California when you go to the state.there are three different levels at.which you might have to register the.town the county or the state in most.places it's going to be the county or.the state and sometimes they'll be the.town and sometimes it's a combination of.the three and rarely in two cases so far.as of today two states don't even.require it so you can see it varies but.just keep in mind your fictitious.business name does not have great.protection I mean if you register it in.the county no one else can use that as a.fictitious business name but that.doesn't mean they can't mark it under.that brand name especially if they got.it trademarked you don't have protection.in that way the most-viewed protection.you have is within that county or city.no one else can use the same petitioners.business name and that's it and this is.why it's so important if you want to.protect your brand name and also.especially if you plan on selling beyond.your local state or local province.then you need to trademark a brand name.and that's extremely important it's like.registering a fictitious business name.except you're now doing on a national.level so we have trademarks in Canada.the US and the European Union if you're.in Europe and your trade marketing there.you can do it broadly and it covers all.the European countries within the.European Union and it's pretty simple.and fast Canada covers Canada and of.course the United States covers the.United States how do I file for my.fictitious business name first of all.step one make sure that no one else has.trademarked that business name you don't.want to file for a fictitious business.name.six months later get a letter from a.lawyer saying hey the I remember.presenting my client who trademarked.that name two years ago you have to stop.doing business what's that going to do.it's going to hurt your business because.people started knowing your business.under that name and now you'll lose all.of that momentum how do you do that it's.very simple.go to uspto.gov come over here to.trademarks hover over and you're going.to see all of these menus pop up from.here you're going to go to searching.trademarks and click on that from.searching trademarks scroll down to.where it says search trademarks and.click on that now go to basic word mark.search and from here you're going to.type it in and you're gonna see I.already typed it in floral felines and.hit enter and it's going to search so.this is telling me that no one is using.the name floral felines as a branded.trademark it's a perfect the second.thing you're going to do is you're now.now that you know that no one's using it.within USPTO gov is you're gonna go over.here and you're gonna Google the name of.your city the name of your County and.then fictitious business name that way.you've covered your bases and you know.that it's gonna come up and there it is.after the sponsored ad see that's an ad.right there right here I come over here.and I can look at the Travis County.Clerk and here it gives me the steps for.applying I want you to notice it says.search assumed name certificates what.this means is by clicking here I can.search and find out if anyone else is.using this name that I want to use in.Travis County where I live the other.thing you can do is come down here and.you can see all the steps in all.counties or states are going to have.these steps for you they're all gonna.look different depending on the rules of.the state so keep that in mind but it.tells you how to search for marriage.records official public records.foreclosure notices and so forth let me.go back here but down here you can see.when should a DBA be filed and then the.steps first you determine if the name.you wish to use is available it is your.responsibility to fully investigate the.name you wish to use here you have to.this instructions for filling out the.certificate and then you can bring it.into the office there and you pay the.filing fee and then it tells you what.happens after that's over once you've.done this you're gonna wait for a few.days usually it's not more than a week.or two it could be up to 30 days they.will send you notification if it's been.approved and you can start doing.business under your fictitious business.name but I don't want to leave without.you understand.couple risks associated with this number.one if your company explodes and I'm.assuming you're doing this because you.have a local business brick-and-mortar.it's geographically located that's.usually the only time someone's gonna.file for a fictitious business name but.once you do this if your business.explodes you need to side you know what.I'm an entrepreneur I'm gonna start.building a franchise and I'm gonna start.expanding to different states if that.happens you now have to rethink your.strategy for two reasons number one if.someone Sue's you they can sue you for.your personal stuff like your car and.your house and your personal finances.because you're a sole proprietorship or.a partnership so I strongly recommend.you consider becoming an LLC which still.has passed through tax you still pay.them as personal income but the.advantages are that if you are sued only.your business assets are liable it does.cost more but it's worth it second if.your corporation also gives you that.same protection except now you have two.things you have your company's identity.and your identity companies pay taxes.and you pay taxes and you can manage.those in a way that actually helps you.to pay less taxes legally than an LLC.now there's tons of different variations.off that you need to talk to a tax.lawyer or an accountant for all the.details but as a general rule of thumb.it does give you more flexibility as a.corporation and that's why I am the.owner of multiple corporations so make.sure you do not use a sole.proprietorship unless you are intending.to remain local and small and just in.your area if you're trying to grow big.if you're trying to sell name azan or.eBay I highly recommend you get a brand.name and you register it with the.uspto.gov trademarked and keep in mind.it is only protected in the country in.which you are selling so for example if.I get my brand name registered in the.European Union but I'm selling in the US.it's not protected in the US but it is.protected in Germany and the vice-versa.is true as well.once you get this set up it's a matter.of just moving forward I remember when I.first registered for a business it.seemed expensive to me that was a lot of.money I forget it was under 100 I think.but it still seemed like a lot of money.to start myself a partnership and have.to pay this money now my perspective has.changed so much not because I have a lot.more money but because my view of.finances is different I realize an.investment now means I can make money.later.lastly as a gift to you guys and I hope.this is helpful to you I included below.a link to how I made my first $1,000,000.and I did it through five different.passive income streams there was a no.magic key there was no special trick to.make it happen it simply meant working.hard being smart and leveraging my time.so I could scale and that's exactly what.I did and so I hope that's helpful to.you guys have an awesome day this is.Seth canny can even real get out there.and crush it.[Music].and thanks Joe.

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Trade Name Or Fictitious Name Registration Update Sos State Oh FAQs

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How to decide my bank name city and state if filling out a form, if the bank is a national bank?

If your bank is national but has a branch in your town/city you can enter your town/city as the bank's address. Your employer is not relying on the bank's address you enter on the form.

How do people with just one name get around this fact when filling out forms and stuff? Also hypothetically could I change my name to just one name if I wanted or something crazy like Disco Stu or something?

Yes. Some people do legally change their names to rather silly things, on forms single named people can list their name as both the first and last name, so it satisfies the computer required fields. James James, Huckleberry Huckleberry, or Mud Mud.

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