2016-12-30 00:00:00 Growing a Business English Learn why it's advantageous to keep the name of a business you buy. The existing name ensures brand-name recognition even after the... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/Clothing-on-retail-store-table-featuring-company-name-on-tag.jpg https://quickbooks.intuit.com/ca/resources/growing-business/keep-the-name-when-you-buy-a-business/ Keep the Name When You Buy a Business

Keep the Name When You Buy a Business

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You might want a company you buy to bear your name, but there are a few practical reasons why it’s best to leave the name as-is instead of coming up with new company name ideas.

  • The company’s regular customers patronize the business because they recognize the name and the brand; you might lose their business if you change the name.
  • Changing an existing business’s name can also be expensive. You’ll have to pay for new signs, marketing and training materials, and business cards.
  • You may also have to apply for new a trademark and resubmit information about the business to provincial authorities and the Canada Revenue Agency.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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