By Roman Basi, president of the Center for Financial, Legal & Tax Planning Inc.  

There is a popular misconception among many small and closely-held business owners regarding their business name. State law demands that any corporation formed within that state must “have a name unique from others” within the state.  Therefore, many business owners mistakenly assume that their name registration confers unlimited rights to that name.  Unfortunately this is not true and can lead to expensive legal issues.

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