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You have the perfect name for your small business, but your ducks are not all in a row to start the business. Perhaps, you’re awaiting the financing to be finalized or something else is holding things up before you launch. How can you ensure that the name you have in mind is not taken by another would be business?
In Massachusetts you can easily reserve the name as long as it meets the following criteria. The name “may not be the same as, or so similar as to be likely to be mistaken for” the name of any other existing corporation or other entity authorized to transact business in the state or any name already reserved in the state.
A name reservation can be filed in accordance with the statute M.G.L. Chapter 156D, s. 4.02. In accordance with this law, if the Secretary of State’s office in MA finds that the business name requested for reservation is available, the name will be reserved for the exclusive use of the person applying for it for a sixty days.
Prior to the end of the sixty days, the applicant may file an extension to extend the reservation for an additional sixty days. The filing fee for the initial name reservation is $30. The filing fee for the extension is also $30.
This is an excellent way to ensure that the perfect name an entrepreneur has in mind for its business will not be taken by someone else while things are becoming finalized. The application for a name reservation for the state of Massachusetts can be found in the comment below should you need it.
Contact me at 978-681-0017 or at jennie@simplygoodlaw.com for assistance in reserving a business name.