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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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3.4 - Sally's Start-Up Checklist

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Q Requirements For Starting a New Business Background Work Legal Requirements 1. Do we need a business name (DBA) and a company name? Explain. A fictitious name (also known as a “doing business as” or “dba”) is: Different from your personal name, if doing business as a sole proprietor. Different from your entity’s legal name, if you have incorporated or otherwise formed a separate legal business entity. 2. Do we need to researched Federal, State, and Local business naming laws and requirements? 3. Do we need to researched Federal, State, and Local Labor Laws?4. Do we need to research our need for and how to obtain an EIN?5. Do we need to research Federal, State, and Local tax requirements?

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1.Yes, it is one of the most important requirements to have a name for the business. With a name for the business registered by government authorities, it helps in protecting the business from various types of malpractices and issues. Another very important requirement of a business is that it helps clients to find the company and a specific and unique name of the business also helps in getting protection at the sate or country level. 2. We need to research federal, state and local business naming laws before naming the business because there are various types of legal requirements which vary based on states and should be well known before naming the business. It is also very important to research about trademark laws, if we want to have trademark for the business which provides protection from duplicity etc.