Changing the name of a business

happycat · ‎09-18-2010

If the business is going to stay exactly the same, why do the owners change the name of the business? I recently saw an add in a local magazine, about a small bakery in town, which I had never heard of. Then, I figured out it is the same small bakery that has been in the same place for several years...this is just the third or so name change since changing ownership about 5 years ago. It is an awesome bakery.

Just courious.

MickD · ‎03-10-2010

Either to breathe new life out of the business. Or new ownership. Or due to a cease and desist on the business name.

Where have you gone, Joe DiMaggio? A nation turns its lonely eyes to you.... ~ S & G

software · ‎06-08-2016

There are many reasons why a business changes their name, could be due to laws or taxes or change in partners.

@happycat wrote:
If the business is going to stay exactly the same, why do the owners change the name of the business? I recently saw an add in a local magazine, about a small bakery in town, which I had never heard of. Then, I figured out it is the same small bakery that has been in the same place for several years...this is just the third or so name change since changing ownership about 5 years ago. It is an awesome bakery.
Just courious.

millieshops · ‎03-09-2010

@happycatI can think of 2 reasons and I'm sure there are more. The name could be not as good for business as they had expected or someone challenged them on the use of a name.

Also could be financial - the company that recently completed a multi-million dollar roofing project for my HOA declared bankruptcy, probably so we couldn't sue them forever and then re-opened under a new name. Only someone with a good consultant who knows the business would find all the details and realize the business they were checking wasn't really new at all.

Carmie · ‎10-25-2010

In order to use the same name, the new owners would need permission from the previous owners. Often, they have to purchase the right to keep the same name.

Sometimes the previous owners will not give permission or sell the right to use the name. They might not want their business name associated with a new owner.

When my parents passed my siblings and I decided we did not want to keep running the family resturant, we sold the property but did not allow the new owners to use the name for their restaurant. They asked and begged, but we said no, we only sold the building, but not the business. Good thing, their food was terrible.