In this article, we will be discussing step by step instructions on how to reserve any business in name Illinois.
Before officially forming your business (LLC, Corporation etc) in Illinois, you may consider reserving the name for your company first. Reserving business name is especially helpful in cases when you are sure to form the business in next few months but are not ready yet. Name reservation can protect your PERFECT business name, till the time you are ready for filing.
The business name can be reserved for the period of 90 days which can be further renewed. The business name reservation can also be transferred.
Illinois Business Name Requirement
Illinois Secretary of State has mandated certain requirements which you must keep in mind while selecting a business name.
The business name must be unique and distinguishable from any existing business entity name registered with Secretary of State. Also any difference in grammar, similarly sounding business name, or using stop words does not make the business name unique and it will lead to the name being rejected.
For example following names are not distinguishable:
- Justin Plumber LLC vs The Justin Plumber LLC
- Mango Farm LLC vs Mango Farms LLC
- Jake & Mary Corporation vs Jake and Mary Corporation
Required suffix in the business name:
- For Corporations:
Must end with either “Corporation”, “Company”, “Incorporated” or “Limited” or an abbreviation of one of such words. - For LLC
Must end with either “Limited liability company”, “L.L.C.” or “LLC”
Prohibited words:
- LLC name cannot contain “Corporation,” “Incorporation,” “Association,” “Limited,” “Limited Partnership” or any abbreviation thereof
- Certain words such as bank, insurance, trust etc cannot be included in the name without prior approval from the concerned authorities.
Business Name Availability Search
To make sure your chosen business name is unique and distinguishable, you must search through Illinois SOS business records. We have written an in-depth tutorial on how to search for a business name in Illinois.
How to Reserve Business Name
Business name reservation can be done by mail. The process can take upto 5 days
By Mail
| Download Form | |
| Fees | LLC: $25 and $50 expedite fee Partnership: $50 and $50 expedite fee Corporation: $25 and $50 expedite fee |
| Address | LLC & Partnership Secretary of State Department of Business Services Limited Liability Division 501 S. Second St., Rm. 357 Springfield, IL 62756 Corporation |
| Processing Time | Within 5 days after the receipt |
- Download the name reservation form (links are shared above).
- Fill the form with the requested details.
- Include the money order or check drawn in favor of “Secretary of State“.
- Send the filled form to the address mentioned above.
Contact
For any queries, you can contact the SOS at 1800-252-8980 during business hours.
Reference:
Last Updated: 19/09/2018
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source https://businessentity.org/il/illinois-business-name-reservation/
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