A DBA is short for “Doing Business As.” DBAs are used in instances where a business wants to conduct business under a name that is different from the name it initially used to register with the state, also known as a trade name. It is also common for individuals that wish to protect their personal information to utilize a DBA when conducting business. For example, when a sole-proprietorship or general partnership does not operate under a DBA, the individual’s name of the sole-proprietorship or partner’s name is used by default.
A business might choose to utilize a DBA for any number of reasons. Here are a few benefits that DBAs can offer a business:
For starters, New Mexico does not have any registration requirements for businesses that use a DBA or trade name. Additionally, there is no method by which a business can register or file their DBA or trade name with the state. So, it is important to recognize that using a DBA in New Mexico, or operating under any name other than the legally recognized name of your business, could have legal implications for you and your business that you should discuss with an attorney.
However, if there are particular aspects of the business that you would like to protect, such as a unique trademark or other intellectual property, consider registering your trademark with the New Mexico Secretary of State.
Additionally, there is a short-term solution that you can consider in which you register a reserved name with the state. While this would allow you to perform limited operations, such as opening a bank account under that name, reserving a name is not a viable long-term solution. This is because your reserved name expires after 120 days.
Apart from utilizing a DBA or trade name, there are other steps you can take to protect your New Mexico business. For example, forming an LLC or corporation for your business, creates a separate legal entity apart from its owners. This offers business owners personal asset protection, privacy, and many other benefits. Consult with an attorney to learn the different ways you can protect your New Mexico business.Adhering to New Mexico State Law:
Keep in mind that if your business was formed in a different state, you may have to register your business with the New Mexico Secretary of State in order to conduct business in the state. Additionally, any foreign companies should likewise contact the necessary state institutions to conduct business in New Mexico. Also, be mindful of the state and local laws that govern your particular industry or business operations. Consult with an attorney to learn whether or not your business is subject to any New Mexico regulations or licensing requirements.
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