Legal compliance and negotiations skills Coursework

Legal compliance and negotiations skills - Coursework Example On the other hand, a service mark denotes a unique trademark used in distinguishing a specific service, and commonly applied in advertising (Pakroo & In Stewart, 2014). Whereas trademarks are used in reference to products and service marks in relation to services, the term trademark is used interchangeably for both in the U.S. Patent and Trademark Office (USPTO). A fictitious name denotes any name chosen to identify an operating business as long as it is not the individual’s legal name. Individuals intending to start businesses often chose a fictitious name, which is unique. It is legal to use a fictitious name in the identification of a business so that there is a clear distinction between the individual and the business (Pakroo & In Stewart, 2014). Moreover, when a business involves several partners, it is only rational for them to identify a unique name that they can use in the business world. There are mandatory procedures involved in the registration of a business name. It is critical for the corporation to ensure that the name chosen is available by conducting a search on the USPTO online too. The second step involves the registration with the state at the county offices. For a corporation that intends to operate outside a specific state, it is advisable to register with the federal government. This enables the corporation to have a trademark, which enables it to receive protection. Using a fictitious name in business presents numerous benefits such as ensuring that the company enjoys a clear feasibility in its marketing strategies. It also becomes easier to open and operate bank accounts for the business. Using a unique and fictitious name also presents the business with a high level of credibility among customers and suppliers (Gilson, Lalonde, & Green, 2003). It is critical to register fictitious names so that the identity of the business can be protected. Proper registration ensures that other businesses do not use the same name.