Wolters Kluwer CT Corporation podcast explores the intricacies behind LLC and corporation name changes

Rhea-AI Summary

Wolters Kluwer CT Corporation emphasizes the importance of selecting a name for businesses, highlighting the compliance challenges involved in executing a name change. Sandra Feldman, Corporate Attorney, notes that corporations often rename to reflect new ownership or strategic shifts. Before initiating a name change, businesses must adhere to state laws, which may include restricted terms. CT Corporation offers guidance through compliance complexities, assisting with name checks and regulatory filings. The organization has a long-standing reputation, serving many Fortune 500 companies and law firms in over 150 countries.

Positive

• CT Corporation has a long-standing reputation, serving over 75% of Fortune 500 companies and 95% of AmLaw 100 law firms.
• The company offers valuable assistance to businesses navigating the complex regulatory landscape of name changes.

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• None.

Adopting a new name can manifest a host of new compliance challenges for businesses to address

NEW YORK--(BUSINESS WIRE)--

Selecting a name is one of the first and most important decision that a fledgling corporations or LLC faces – and it’s possible they’ll have to make it more than once. A recent installment of Wolters Kluwer CT Corporation’s Expert Insights podcast reviews the many intricate steps that businesses must undertake before executing a successful name change, a complex process that often spans multiple state and federal agencies.

Sandra Feldman, Corporate Attorney at Wolters Kluwer CT Corporation, explains that it’s not unusual for a corporation or LLC to undergo at least one name change over the course of its lifetime. A business might be rechristened to denote new ownership, mirror product line changes, or signal a new direction for the company to boost investor confidence. But prior to issuing a press release or updating any marketing materials, companies interested in changing names should review the LLC or corporation laws governing the state in which they were formed. Some states, for example, maintain a regularly updated list of words or phrases that can’t be used in a name. Once a new moniker is approved, corporations will also have to file the appropriate updates with any foreign states in which they do business.

“If the compliance obligations associated with executing a successful name change seem overwhelming, it may be beneficial to seek the assistance of a trusted partner,” Feldman said. “CT Corporation can assist clients with navigating many of the administrative and regulatory hurdles involved, from checking and reserving a name, to filing the appropriate documents various government agencies.”

The CT Expert Insights podcasts offers regular advice, tips and tools for growing a business directly from the experts at Wolters Kluwer CT Corporation. Previous topics include how to manage business licensing obligations, strategies for incorporation and the expanding regulatory compliance landscape.

For nearly 130 years, Wolters Kluwer CT Corporation has been the leading provider of registered agent services, incorporation services, and legal entity compliance. It is part of Wolters Kluwer’s Governance, Risk & Compliance (GRC) division and has a global reach into over 150 countries. More than 75 percent of Fortune 500 companies, 95 percent of AmLaw 100 law firms, and 350,000 small businesses trust CT Corporation to handle their compliance needs. The other legal services business of Wolters Kluwer GRC is Wolters Kluwer ELM Solutions. The division’s banking and regulatory compliance businesses are Wolters Kluwer Compliance Solutions and Wolters Kluwer Finance, Risk & Regulatory Reporting.

About Wolters Kluwer Governance, Risk & Compliance

Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2021 annual revenues of €4.8 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,800 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221020005183/en/

Media Contacts for Wolters Kluwer GRC

(including Wolters Kluwer CT Corporation, Wolters Kluwer ELM Solutions, Wolters Kluwer Compliance Solutions and Wolters Kluwer Finance, Risk & Regulatory Reporting)

Paul Lyon

Senior Director, Global Corporate Communications: Global Marketing, Communications & Planning

Governance, Risk & Compliance Division

Wolters Kluwer

Office +44 20 3197 6586

Paul.Lyon@wolterskluwer.com

Frank Ready

Senior Specialist, Corporate Communications, Legal Services

Governance, Risk & Compliance Division

Wolters Kluwer

Office 717-205-3647

Frank.Ready@wolterskluwer.com

Source: Wolters Kluwer

FAQ

What does the recent Wolters Kluwer press release say about business name changes?

The press release highlights the compliance challenges associated with changing a business name and advises companies to follow state laws and consult CT Corporation for assistance.

How can CT Corporation help businesses with name changes?

CT Corporation offers services to help businesses check and reserve names and file necessary documents with government agencies.

Why might a corporation choose to change its name?

Corporations may change names to reflect new ownership, product line changes, or strategic shifts that aim to enhance investor confidence.

What is the significance of Sandra Feldman’s role in the press release?

Sandra Feldman, a Corporate Attorney at CT Corporation, provides insights on the complexities and legal requirements involved in executing a successful name change.

How long has Wolters Kluwer CT Corporation been in business?

Wolters Kluwer CT Corporation has been operating for nearly 130 years, providing registered agent services and compliance assistance.