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What is an assumed business name?

On Behalf of | Dec 2, 2021 | Business & Commercial Law

When you do business in most cases, you will use a business name. Operating under a business name requires you to register that name with the state.

The Oregon State Legislature refers to a business name as an assumed business name, and it is any name you use for business that is not only your legal name.

Only your name

Only your name means that it is just your name. You cannot add anything to it, or you have an assumed business name. It is important to understand the distinction because you can operate under your legal name without having to register. However, once you operate under an assumed business name, you must meet the state requirements.

Requirements

You cannot conduct business in the state under an assumed business name without registering it and maintaining that registration. Do note that you can register your legal name if you do business under it, but that is not a requirement.

Registration is with the Secretary of State’s Office. You must complete an application and pay a fee to register. The application requires your personal information and information about the business. You will have to designate someone who will conduct business transactions with the Secretary of State’s Office and act as the public figure for the business.

If you fail to register you will be subject to penalties. It is essential to ensure that you register if you operate under an assumed business name. Remember that if you add anything, even a symbol, to your legal name and use it for business, it becomes an assumed business name requiring registration.