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"Should I Reserve a Company Name in Delaware?"
Companies Served Since 1981

"Should I Reserve a Company Name in Delaware?"


By Andrew Millman Monday, March 2, 2015

Name Reserved"Should I reserve a company name with Delaware prior to filing?" We hear this question almost daily. Traditionally, it’s easier (and less expensive) to just go ahead and file the new company. However, in some cases this may not be an ideal solution. Albeit rare, you could be in a situation where it’s a good idea to reserve the name. Maybe you have fallen in love with the company name and you want to make sure someone else isn’t going to beat you to the punch, but at the same time, you aren’t ready to move forward with filing your Delaware LLC or corporation quite yet. In other cases, clients may have already determined that the birthday of the new company must be Jan.1, 2015, for example, and you want to secure the name until then. Whatever the case may be, if you have deemed it necessary to reserve the name you have a couple of options:

  • You can reserve the name with the State of Delaware Division of Corporations directly for $75, which will put a hold on it for 110 days. (Be sure to hold on to the reservation receipt.)
  • You can reserve the name through Harvard Business Services, which will make things easier when you’re ready to file. (We’ll retain a copy of the reservation for you.)

Aside from scenarios such as these, in almost all cases, it’s often best to just move forward with the company registration. Why?

  • The cost of the name reservation is non-refundable and the state does not apply this towards the cost of the company registration.
  • If you misplace the name reservation receipt, the state of Delaware may not allow you to file the company without it.
  • If and when clients decide to change or modify the name at the last second, even slightly, it defeats the purpose of the name reservation.
  • The name reservation may drastically delay the approval process. (We generally have the company approved in two to three days. This could delay the process by a week or more.)

When you file your company through Harvard Business Services, we check the name in real-time. If the name is available, we file the company almost instantly, which will then lock down the company name. We generally have the company to the state of Delaware and back, approved, within two to three business days.

If you have any questions regarding reserving the name for your new Delaware corporation or LLC, call us today at 800-345-2677. We’re ready to help you!

 

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