Fictitious business names are a special devise that permits a business to be conducted with an assumed name at an elementary cost. Fictitious business names are also alternately known as DBAs which is a short form for doing business as this practice has long been utilized in both the U.K. and the U.S.A. and it allows a person to legally engage in business without having to create a separate new business entity. The standard norm for a

fictitious business name is that it is usually legally valid for a period of five years. When in use, a fictitious business name allows for using that name to advertise, accept payments, operate a bank account and promote oneself under that name title. Keep in mind that filing for a fictitious business name is often a straightforward and easy process.

Fictitious Business Names Advantages :

Fictitious business names are mainly directed for use by sole proprietors. They permit the sole business proprietor to use a business title instead of his personal name. Fictitious business names are also usually advocated for use when there is a strong suggestion that more than one party is involved. Fictitious business names allow for a business to function without the physical setting up of a distinct business enterprise. Fictitious business names are thus ideal instruments for use by sole business proprietors. They include in their ambit such business legalese as the functioning of a business checking account in a bank and the acquisition of a business phone listing by a sole proprietor. Filing for a fictitious business name is a cost-cutting operation that allows a single proprietor to hold several business portfolios. The rules for filing and operating a fictitious business name vary from country to country and even within different states in the U.S.

Inexpensive Branding :

Fictitious business names are thus a potent branding tool. They allow great leeway to a sole proprietor to advertise his business at every opportunity. This can be while using a check or while handling telephone queries or when advertising in the newspaper. Since this fictitious business name can be acquired easily at a reduced

cost, the whole process of promoting the business becomes an inexpensive proposition. That affordability is the primary advantage of acquiring a fictitious business name. For instance, a sole proprietor may own and operate several businesses without declaring them as corporations. Under the fictitious business name, each business does not have to enjoy separate legal identity. A fictitious business name is thus a clever tool to promote sole ownership business entities within inexpensive business parameters.

Procedures to Acquire Fictitious Business Names :

There is a well-defined procedure for acquiring a fictitious business name. In the U.S, the rules are that a fictitious business name should be registered with the Secretary of State or an equivalent state agency. Alternately, an assumed name can be registered at the county level by the submission of a form and valid fees. The overall procedure has been drastically simplified to make registration hassle-free. Initially, the business proprietor has to scroll through the county database to prevent a repetition of the business name. This done, he simply has to submit a form with a paltry fee that may range from $10 to $50. Some states have the added proviso of the business advertising itself in the local newspaper within a certain time frame, to declare its established status.

In the U.K. these procedures are conspicuous by their absence. However, fictitious business names come under the purview of the Business Names Act of 1985 and are closely monitored by the National Business Register. Hence these two bodies perform functions as close regulation and prevention of duplication of registered names respectively. Similarly, different countries have different procedural protocols and where you reside will impact your acquisition of a fictitious business name

For Consumer Protection :

Fictitious business names are crucial because they declare the ownership of a business by a certain individual. This is the first step towards identification of a business by a customer. This declaration is also a powerful tool that can be employed for consumer rights protection. The consumer is king and should have open access to information on who owns a certain business entity. The fictitious business name is a distinctive trademark that discloses the real name of the owner. This allows the consumer to trace the owner of the business in case the consumer feels the need to complain or redress a grievance.

In Public Realm :

Fictitious business names are thus a matter of public record. Openly published and registered, they serve in the public domain. With registration, their phone numbers can also be easily accessed and they immediately enter the public realm. With the ubiquity of the Internet, now the documents can even be accessed online at the county office free of any charge.

Promote Enterprising Individuals :

Fictitious business names are therefore powerful tools to aid sole business owners. They allow great scope for the inexpensive operation of several businesses under one umbrella. They are tools that promote the entrepreneurial spirit by allowing sole proprietors to test their skills in multiple business situations. A sole proprietor has access to credit, banking and other financial backing with the simple aid of a fictitious business name. The sole proprietor also reaps the benefits of free access to many business opportunities that thrive in a market economy. This includes telephone, newspaper and online advertising. No wonder fictitious business names are a prudent purchase. Furthermore, this purchase comes at a paltry cost with a minimum of laborious procedures.

Strike out on your own with a fictitious business name. Use a brainstorming session and the local countys database to arrive at an original business title that defines your business best. Then duly register it and wait for the predictable flow of customers. Using an assumed name has been the established custom for a long time. It is specifically designed to initiate and stoke the spirit of enterprise among sole proprietors. It is a powerful asset for the average businessman to spread his empire into virgin territory. Fictitious business names or assumed names are flourishing in the U.S. and the U.K. and in innumerable free enterprise countries around the globe.