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Finding a Name for Your Business: Difference Between LLC vs Inc.

Are you launching a new business but need to think of the perfect brand name?

Whether you own an online store or are a blogger or a business coach, finding the right name and making sure it’s available is an important part of the process.

Finding a Name for Your Business: Difference Between LLC vs Inc.

For example, do you know the difference between LLC vs Inc. and which is better for you? Should you perform a name search to make sure your name is not already taken?

Here’s a handy guide to business names to help you out and save you time, energy, and money when starting your business. If you need help at any point, there are plenty of business name generator tools out there.

Pick the Right Name for Your Business

When naming your company, you need something unique and catchy that’ll set your business apart from your competitors. Start by brainstorming ideas of words and phrases you associate your business with. Write down everything that comes to mind — you can always edit later on.

Then, make various combinations of words, letters, phrases, names, and even numbers. Once you find a few eligible names, make sure to check if they’re available as domain names.

Check If Your Business Name Is Available

Once you’ve narrowed down your choices, it’s time to check for availability in your state records (or province records for Canada). You can perform a free search to see if your business name is taken, and if you’re in Canada, you can visit opstart.ca to do a free NUANS search.

Which Business Entity Is Right for Your Business?

To learn why the difference between LLC vs Inc. is important for your business, you should first know which business entity you want to establish.

Below you’ll find the definitions and explanations on LLC and Inc., as well as how to choose the right abbreviation for your business name.

What Does LLC Mean?

LLC stands for “Limited Liability Company“, which means the company has its own legal existence separate from those who founded it. In an LLC, the members are not personally liable for the company’s liabilities or debts.

LLCs are also taxed differently from Inc. business entities or corporations. In a corporation, the company is taxed twice: once on a corporate level and a second time on a shareholder level. LLCs are only taxed once when the investor receives personal income from the company.

What Is an Inc.?

The official Inc. definition states this type of business entity as an “Incorporation“, which involves articles of incorporation when forming the business.

These documents list the basic business information, its primary field of operation, as well as the shares and stocks being issued. In short, an Incorporation means your business is set up as a corporation.

Now You Know the Difference Between LLC vs Inc. For Your Business

Whether you’re a solo business owner or entering in partnership with someone, you should know the difference between LLC vs Inc. before registering a company. These tips will help you distinguish between these two business entities so you can choose the best name and type for your company.

Want more business and entrepreneurship tips? Check out the other articles we’ve written on these topics and come back often to discover more of the latest industry trends and news.

Are you launching a new business but need to think of the perfect brand name? Whether you own an online store or are a blogger or a business coach, finding the right name and making sure it’s available is an important part of the process.

For example, do you know the difference between LLC vs Inc. and which is better for you? Should you perform a name search to make sure your name is not already taken?

Here’s a handy guide to business names to help you out and save you time, energy, and money when starting your business.

Pick the Right Name for Your Business

When naming your company, you need something unique and catchy that’ll set your business apart from your competitors. Start by brainstorming ideas of words and phrases you associate your business with. Write down everything that comes to mind — you can always edit later on.

Then, make various combinations of words, letters, phrases, names, and even numbers. Once you find a few eligible names, make sure to check if they’re available as domain names.

Check If Your Business Name Is Available

Once you’ve narrowed down your choices, it’s time to check for availability in your state records (or province records for Canada). You can perform a free search to see if your business name is taken, and if you’re in Canada, you can visit opstart.ca to do a free NUANS search.

Which Business Entity Is Right for Your Business?

To learn why the difference between LLC vs Inc. is important for your business, you should first know which business entity you want to establish.

Below you’ll find the definitions and explanations on LLC and Inc., as well as how to choose the right abbreviation for your business name.

What Does LLC Mean?

LLC stands for “Limited Liability Company“, which means the company has its own legal existence separate from those who founded it. In an LLC, the members are not personally liable for the company’s liabilities or debts.

LLCs are also taxed differently from Inc. business entities or corporations. In a corporation, the company is taxed twice: once on a corporate level and a second time on a shareholder level. LLCs are only taxed once when the investor receives personal income from the company.

What Is an Inc.?

The official Inc. definition states this type of business entity as an “Incorporation“, which involves articles of incorporation when forming the business.

These documents list the basic business information, its primary field of operation, as well as the shares and stocks being issued. In short, an Incorporation means your business is set up as a corporation.  

Now You Know the Difference Between LLC vs Inc. For Your Business

Whether you’re a solo business owner or entering in partnership with someone, you should know the difference between LLC vs Inc. before registering a company. These tips will help you distinguish between these two business entities so you can choose the best name and type for your company.

Want more business and entrepreneurship tips? Check out the other articles we’ve written on these topics and come back often to discover more of the latest industry trends and news.

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