The most basic business information has to be kept accurate and representative of your business. Changes of name by businesses are quite common, and there are a range of legal issues attached.
A business name, by itself, is not a legal entity. It is, however, the property of the owner, and can have considerable value as goodwill. So it's important to maintain details of your ownership of the name.
Important note: In some countries, formal registration of business names is a statutory process, in others, it's not required. To safeguard the value of your business name, you will need to research methods of creating a form of ownership.
The name of the business can change for many reasons:
In each of these cases, your clients need to know your new name, not only to find you in the phone book, but because in some cases they may be dealing with a new legal entity, as in the case of the franchise or corporate entity.
Your business clients do need to know this information.
This means you need to provide them with useful information concerning your change of name.
You must provide:
Change of business name / trading name
Please be advised that as of (insert date) this business will be trading as (insert full new business name) and will no longer be trading as (insert full old business name).
Please adjust your records and billing details accordingly.
Optional text (franchise name)
Please be advised that this business is now part of the (insert full name of franchise) group / franchise and is obliged to trade under this name. It will be appreciated if you adjust your records and billing details accordingly.
Optional text (corporate name)
Please adjust your records and billing to reflect the new details.