If you are planning to conduct business under a name that is different from your own legal name or the name of your registered business entity, you may need to file for a DBA (Doing Business As) name. In the state of Wisconsin, obtaining a DBA name is a relatively simple process that can be completed by following a few important steps. This guide will walk you through the process of obtaining a DBA name in Wisconsin.
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What is a DBA Name?
A DBA name, also known as a fictitious or assumed name, allows individuals, partnerships, or registered business entities to operate under a name other than their legal names. It is commonly used by sole proprietors and partnerships seeking to conduct business under a different name. By obtaining a DBA name, you can establish a professional brand while maintaining your legal rights and obligations.
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Step 1: Research Your DBA Name
Before proceeding with the registration process, it is important to ensure that the name you want to use as your DBA is not already in use by another business entity in Wisconsin. To avoid confusion and potential legal issues, it is recommended to conduct a thorough name search. You can do this by searching the Wisconsin Department of Financial Institutions' (DFI) Business Name Database, their online resource for verifying name availability. If your desired DBA name is not already in use, you can proceed with the registration process.
Step 2: Choose a Business Entity Type
Wisconsin provides multiple options for the type of business entity you can choose when registering a DBA name. The most common types are sole proprietorship, partnership, and limited liability company (LLC). The choice depends on your specific business needs, liability concerns, and long-term goals.
- Sole Proprietorship: This type is suitable for individuals operating independently. While it is the simplest form, it offers minimal legal protection, and personal assets could be at risk in case of legal issues.
- Partnership: This structure is ideal for businesses with multiple owners. It can be either a general partnership or a limited partnership, depending on the distribution of control and liability.
- Limited Liability Company (LLC): An LLC offers increased liability protection compared to sole proprietorships and partnerships while maintaining flexibility in terms of ownership and management. Many entrepreneurs often opt for this choice.
Step 3: Register the DBA Name
To register your DBA name in Wisconsin, complete the following steps:
1. Download and Fill out the DBA Registration Form: Visit the Wisconsin DFI website and download Form 4378 - Registration of Firm, Trade or Franchise Name. Complete the form with accurate information, ensuring it matches your actual business entity information.
2. Notarize the Form: Prior to submitting the form, have it notarized. This can be done at any notary public office, usually for a small fee.
3. Pay the Required Fee: Verify the current registration fee, as it may vary. Include a check or money order payable to "Department of Financial Institutions" together with your completed and notarized registration form.
4. Submit the Form: Mail the notarized form and payment to the address specified on the registration form. Alternatively, you can also submit it in-person at the DFI office.
Step 4: Renewing the DBA Name
In Wisconsin, DBA registrations are valid for 10 years. It is essential to keep track of your registration and renew it timely to avoid losing your name's exclusive rights. The DFI may send you renewal notices when your registration is due to expire. Make sure to renew your DBA registration to continue conducting business under your desired name.
Conclusion
Obtaining a DBA name in Wisconsin is a relatively straightforward process that involves thorough research, proper registration, and subsequent renewal. By following the steps outlined in this guide, you can successfully establish your desired business name while adhering to legal requirements. Remember, conducting business under a DBA name gives you the opportunity to create a recognizable brand while maintaining your legal obligations and rights. Good luck as you continue building and growing your business in Wisconsin!
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