Do you have the perfect name idea for a new business entity in the state of Maine, but you’re not quite ready to form your company?
Maine allows you to reserve a business name until you’re prepared for the business formation process, but how does the reservation process work and how long will the state reserve the name for you? In this guide, we’ll run down all the important details of reserving a business name in Maine.
Rocket Tip: If you’d rather officially incorporate in Maine rather than file the extra paperwork to register a business name, there are many good incorporation services that can do it for you.
How to Reserve a Business Name in Maine
The first step is to determine if your desired business name is even available in Maine to begin with. The Maine Secretary of State provides an easy-to-use search tool to help find existing business names in the state. You can access the Maine business entity search tool right here. Once you’ve determined the availability of your desired name, you can begin the process of reserving it with the state.
There is no process to reserve a name online in Maine, so the form must be filed by mail. In order to reserve your desired name, you will need to fill out and file the Application for Reservation of Name and Cover Letter with the Secretary of State. The standard reservation form requires the following information: Secretary of State Division of Corporations, UCC and Commissions
101 State House Station
Augusta, ME 04333-0101
While the Cover Letter requires:
In addition, you will need to include a check for $20 made payable to the “Maine Secretary of State.” Then, you can mail the application form, cover letter, and check to the following address:
Secretary of State Division of Corporations, UCC and Commissions 101 State House Station Augusta, ME 04333-0101
How Long Is My Business Name Reserved For?
As soon as your application is processed by the Secretary of State, your name will be reserved for a period of 120 days. Maine name reservations cannot be renewed, so you will need to form your business during this period to ensure that you do not lose claim to your desired name.
Just because you aren’t ready to form your Maine business entity doesn’t mean you can’t lock down your desired business name.
The name reservation process in Maine is relatively cheap and simple, and 120 days should be plenty of time to form your business. However, if you are unable to form your business in this time, you may risk losing your desired name to someone else.