The name of your company should not have a word that gives the impression that it is in a different category. To set up a business officially as an LLC, there must be the right letters after the business name. Maryland regulations require the business name that is “distinguishable upon the records.” This means that regular people should be able to tell your business name apart from others. This means that you should do a name search in the state’s database to see if your name is not already used among existing businesses. It is essential to find a name that has not been used by another business and is permitted to use. It has the additional function of keeping assets which may include:Ĭhoosing a name for your business should be done before any paperwork is filed with the Corporations Division. In addition to protecting the personal assets of members, a Maryland LLC can be used to manage a business.
Personal assets such as accounts, real estate and cars cannot be taken by creditors. This means that if the company is sued, only the business assets will be used to cover any debts. This is a business structure that shields its owners, who are called members, from liability. You’ll need a Maryland LLC search before you create your own limited liability company.
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