Do you have the perfect name idea for a new business entity in the state of Minnesota, but you’re not quite ready to form your company?
Minnesota 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 Minnesota.
How to Reserve a Business Name in Minnesota
The first step is to determine if your desired business name is even available in Minnesota to begin with. To determine if your business name is available in Minnesota, you will need to conduct a business entity search on the Minnesota Secretary of State’s website. Once you’ve determined the availability of your desired name, you can begin the process of reserving it with the state.
Name reservations in Minnesota can be filed online by logging in to the Business and Lien System. Additionally, you can reserve a name in person or by mail using the Request for Reservation of Name. This form must be filed with the Secretary of State’s office. No matter how you choose to file, you will need to provide the following information: Minnesota Secretary of State - Business Services Retirement Systems of Minnesota
Building 60 Empire Drive, Suite 100
St. Paul, MN 55103
Minnesota name reservations come with a filing fee of $35 (by mail) or $55 (in person or online). You can make checks payable to the “MN Secretary of State.” If you plan to file in person or by mail, you can mail/drop off the paperwork here:
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How Long Is My Business Name Reserved For?
Unlike most states that typically reserve a business name for periods between 1-4 months, the state of Minnesota will reserve your name for 12 months. If you still need more time to form your business, you can renew your name reservation for an additional 12-month period.
Conclusion
Just because you aren’t ready to form your Minnesota business entity doesn’t mean you can’t lock down your desired business name.
The Request for Reservation of Name is a very simple form to fill out, and Minnesota name reservations last for an entire year (or two years if you choose to renew). So, if you are not ready to form your business, but would still like to protect your desired business name, Minnesota name reservations give you plenty of time to file your formation paperwork.