Starting the American Dream – Small Business
Starting a business is the modern American dream. It is the culmination of an idea fulfilled, an idea to bring a product or a service to the larger community. Yet, there are many things that one must do in order for their business to operate legally. While some may sound interesting and fun, there are other aspects of starting a business that can be cumbersome and may warrant the attention of a seasoned attorney, who knows the ins and outs of starting a business in Florida. As always, the King Law Firm is here for you. With that being said, here is a little insight into the first initial step that goes into forming any business.
The first important step: you need to come up with a name! A fictitious name registration is required of individuals who do business under a name that is not their legal personal name. Florida Trend—on starting a small business—highlighted that the purpose of Chapter 865.09, known as the Fictitious Name Act, of the Florida Statutes is to ensure a public record of the identity of a fictitious name owner. However, it is important to note that this act does not reserve or protect a fictitious name against use by another party. According to Florida Trend, the act also does not provide “rights to the use of a trade name, trademark, service mark or corporate name.” Those wishing to use a particular name is advised to check the Division’s website to see if the name is already in use. As Florida Trend emphasized, “the advice of trusted legal counsel is recommended.”
Fictitious name registration forms are available from the Division of Corporations in Tallahassee and statewide at city and county occupational license offices. Registrations are filed with the Division of Corporations in Tallahassee, not with city or county offices. The Division of Corporations currently maintains an index of fictitious names on a database available on the Internet. Furthermore, there is an additional requirement that one must advertise their intention to register a fictitious name at least once in a newspaper in the county in which the principal place of business will be located. If a change of business ownership occurs, the owners must file a cancellation and re-registration within 30 days of the change.
After registering a name, it is then that you must register with the state, county and obtain a bank account for the company. These steps are required even if you have an online or an at-home business.
The King Law Firm strives to ensure that starting your business is stress-free and efficient. Other than purchasing a home, or leasing an apartment, starting a business is one of the biggest decisions that a person will ever make in their life. It is the culmination of an idea fulfilled that captures the modern American dream. Getting the advice and counsel of seasoned attorneys and professionals at the King Law Firm can help form that American dream into a reality.
Should you have any questions concerning additional steps in starting a business, please feel free to call us at the King Law Firm!