Do you have the perfect name idea for a new business entity in the state of Michigan, but you’re not quite ready to form your company?
Michigan 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 Michigan.
How to Reserve a Business Name in Michigan
The first step is to determine if your desired business name is even available in Michigan to begin with. You can easily check the availability of your desired name by conducting a business entity search on the Michigan Department of Licensing and Regulatory Affairs website. Once you’ve determined the availability of your desired name, you can begin the process of reserving it with the state.
In order to reserve a name in Michigan, you will need to file a physical copy of the Application for Reservation of Name with the Department of Licensing and Regulatory Affairs. This form will require the following information: Michigan Department of Licensing and Regulatory Affairs Corporations, Securities & Commercial Licensing Bureau
Corporations Division
P.O. Box 30054
Lansing, MI 48909 2501 Woodlake Circle
Okemos, MI 48864
After you have filled out the information above, you will need to write a check payable to the “State of Michigan.” The filing fee is $10 for corporations/limited partnerships, and $25 for LLCs. Then, you can mail the form and the check to the following address:
How Long Is My Business Name Reserved For?
The Department of Licensing and Regulatory Affairs will reserve your business name for 60 days. Once this period ends, the name is no longer put on “hold” for your exclusive use. However, you can extend your name reservation in Michigan be refiling the Application for Reservation of Name (and repaying the filing fee). You can only extend your name reservation two times (for a total of 6 months). In order to retain exclusive rights to your reserved name, you will need to form your business during this time.
Conclusion
Just because you aren’t ready to form your Michigan business entity doesn’t mean you can’t lock down your desired business name.
It is easy to reserve a name in Michigan, so if you have a particular business name in mind, there is no reason to wait until you form your business to claim it. You can easily file for a name reservation today.