Starting Up A REI Business
Im 23 years old and plan to start my own real estate investing business in the near future.
I want to have a company name, logo, business cards (the whole 9 yards) I had a company name in mind but when I googled it, i found a RE management company which was founded in 1980 with the same name.
My question is it possible for them to sue me if i have the same name? Is there a way to check online for free is the company name is registered or something.
Also if someone can tell me what kind of forms I would need to fill out to start up my own REI business, id really appreciate it.
Thanks
BigBoi1881-
Not enough information. Is the 1980 RE Management company in NJ?? If not, you are free to use it in NJ, as corporations are created by states. There could be corporations in NY, PA, MD and VA with the same name and you could use the name in NJ.
Google for the NJ Secretary of State for the forms needed to create your corporation. Often you can create your corp on-line without paperwork by completing the forms on-line and giving them your plastic number to pay. Or print out the forms and send them in with your payment.
Good luck!!
Alan
BB, I'd just advise you not to put your cart before the horse.
Meaning you might want to spend some quality time talking to some other REIs in your area, find out what's working for the successful ones, then starting your business...before spending money on cards, stationary, frills.
I can't remember anybody I ever wanted counseling from, telling me "no thanks", and some of the best money I ever spent was at a Starbucks or some other coffee shop just listening and probing somebody who was really out there, doing it.
Far too many newbies spend lots of money and time getting organized, but NO time finding deals, so they're soon out of the business and onto some other venture.
Some of the most successful guys and gals I know use paper napkins for their "business cards" and hardly know how to use a financial calculator....yet have $$$ coming in every month from their RE deals.
[addsig]
Oh, meant to tell you that in some, maybe all states, it's possible to do online search of Sec of State's site to find whether a corp name has been taken or is being used.
Here, in State of WA, I can go online and in minutes learn about a corp name and if it's in use, who owns it, etc.
Very helpful.
[addsig]
You may just want to change the name slightly so that no confusion exists. They can sue you for infringing on their name.
Like if their name is REI Group, you can make yours NJ REI Group. Remember their name is how they earn their money.