QUESTION
How to reassign a business name to new owner ?
Asked on Apr 02nd, 2014 on Business Law - New Jersey
More details to this question:
We purchased a food service business in New Jersey. Lease is signed and we have taken over equipment, goodwill & inventory. However, the previous owner has not reassigned the name of the business to us. What's the process for that?
1 ANSWER
William Mack
In New Jersey, a business name does not have to be registered, although it can be. Registration does not guarantee exclusive use of the name. So the idea of an assignment of name in New Jersey is not as strong as it may be in other states.
What does your purchase agreement say as to use of the name? IF the seller does not object, you can use the name, but should check with your county as to whether it has been registered as a "doing business as" name by the seller.
Answered on Apr 14th, 2014 at 3:30 PM