I am a partner of an LLC in NYS and will be giving up my membership interest in return for the intellectual property, trademark to the business name and website. The company name is "Where's My Media LLC". I was going to try to form a new LLC under the name Where's My Media Technologies LLC", but from my research it looks like the laws governing distinguishable name will not allow me to do that. This is unlike Texas where you can get permission from the similar business name holder to use a similar name. I could do a DBA, but since it is an internet company it theoretically can do business anywhere. So filing a DBA in all NYS counties in NYS would cost nearly $2,000.
Buying the company as a whole would be more complicated as there is a sub company that owned by Where's My Media that they want to keep. I assume that the next best option is to have the company I am leaving change their business name to something else since they have little interest in the existing name.
Once the name change is complete I am assuming I will be able to file for my new LLC under the old name of Where's My Media LLC". Do you know if there is any grace period I must wait for? Does this make sense?
2 Answers from Attorneys
First of all, before you spend ridiculous money on a new LLC, please see: http://www.CheapNewYorkLLC.com.
To answer your question, there is no grace period. You can go ahead right away once the other name is changed.
Feel free to call or email with questions. 212-913-9907.
A company name does not necessarily have a connection to any trademarks a company may own. Therefore, generally speaking, a name should not be the primary concern in such types of transactions. Rather, the proper transfer of all the IP and proper recount of all the relevant covenants and warranties should generally be the focus.
My office can help you do this right. We handle such matters routinely and the cost is fairly low.
Please give me a call at your earliest convenience.
Roman R. Fichman, Esq.
www.TheLegalist.com │ @TheLegalist
email: Info (@) TheLegalist (dot) com
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