How does a fictitious name registration work?
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How does a fictitious name registration work?
I signed into a contract with 2 other people to form a production company. One of the individuals while registering the fictitious business name registered it under his name only because he said he didn’t have enough money to put our names onto it. If he were to put our names onto it would he have to change the type of registration from an individual to a general partnership or something else? Or could he have put our names on it and just paid an $5 extra per person. He is saying that it would cost about $600 to get all of our names onto it.
Asked on September 19, 2011 under Business Law, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The way the registration of a fictitious business name works is that one goes down to the county business office and registers the desired name paying a fee. The name if approved is good for 5 years or so and can be renewed. The name's registration is in the county where the business does its main place of operations.
I suggest that the easiest way to get an ownership right to the fictitious business name is to prepare a partnership agreement to be signed by all partners stating that the name is an asset of the partnership. The agreement needs to be dated and signed by all members concerning the production company.
I suggest that you may want to consult with a business attorney about creating a properly drafted partnership agreement for your venture.
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