Q1. What Is A Trade Name?

Q1. What Is A Trade Name?

Q1. What is a trade name? A1. A trade name is a name, other than the real name, of the entity or person under which the entity or person is authorized to transact business or carry out activities pursuant to sections 7-71-101, C.R.S. Sometimes a trade name is referred to as a “doing business as” or “DBA” name.

Q2. Who’s required to document a trade name? A2. A business (apart from a nonprofit entity) or an individual transacting business in the condition of Colorado under a name other than the person’s true name must document a trade name with the Secretary of State’s Office. Q3. Trade names for lone proprietors and general partnerships used to be submitted with the Colorado Department of Revenue.

When did this change? A3. As of May 30, 2006, statutory changes require that all trade titles are filed with the Secretary of State. This change created an individual filing office for trade-name documents in Colorado. Q4. I originally submitted at the Colorado Department of Revenue. Am I alone proprietor or general partnership still? A4. Your business form has not changed, just the location of your information.

However, new processing requirements and fees shall apply. Q5. A trade was acquired by me name on record with the Colorado Division of Income, but it generally does not show up when I search the Secretary of State’s website. A5. Only active trade titles were moved from the Department of Revenue to the Secretary of State’s office. Closed, expired, or inactive trade name records were not moved because those trade brands are no longer effective and can’t be renewed.

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Q6. Can I reserve a trade name? A6. No. Filing a trade name and reserving an entity name are two different transactions. Reserving a trade name is not an option. Q7. Will be processing a trade name with the Secretary of State to protect that name? A7. No. A trade name provides notice that you are using that trade name but will not prevent anyone else from using the same name.

However, name safety is available under common law and federal brand law. Q8. How do I benefit from submitting a trade name? A8. Filing a Statement of Trade Name allows a person to carry out business under a name that is not the person’s true name. A trade name also creates a record for the public to identify the average person names of persons doing business under a name, other than their true names. Also, anybody transacting business under a name other than the person’s true name is required to file a Statement of Trade Name under sections 7-71-101, C.R.S.

Q9. When performing business under a name apart from the person’s true name, any kind of fines or implications for not submitting a Statement of Trade Name? A9. Yes. Without a highly effective Statement of Trade Name, a person cannot maintain a court proceeding for the collection of debts. Failing to file a Statement of Trade Name also themes the person to monetary penalties and an injunction which halts the individual from carrying on to transact business.