Your company name is important. It’s your first impression, and it’s how people will remember you.
You don’t want to be the business with a forgettable name. So, when you’ve got that perfect name in mind, that clever alliteration or meaningful acronym, you might think about reserving it before someone else does.
Naming your company is one of the first official steps when starting an LLC in Wyoming. In certain situations, it may be necessary to reserve a business name while you’re preparing to bring your business idea to life.
In this article, we’ll explain when reserving a business name is necessary and guide you through all the steps involved.
Don’t forget to get your business domain name so nobody else can use it. This will protect your brand and make things much easier for you later. Secure it easily through GoDaddy.
Are You Required to Reserve a Business Name?
No, not in Wyoming. The state offers the option to reserve an LLC name, but you’re under no obligation to do it. If your business is ready to go, you can file your Articles of Organization right away instead.
Should You Reserve Your LLC Name?
Maybe it took you sleepless nights of brainstorming, or maybe you thought of it while sitting at a traffic light. No matter how you came up with your memorable LLC name, you’ll want to make sure that it’s available and ready to use when you file your Wyoming LLC registration.
You have the option to reserve your LLC name, but it’ll cost you a $50 fee. Overall, it’s cheaper to skip this fee and simply start your business, which will lock in your name.
However, there are cases where you may not be ready to officially start your business. Filing an application to reserve your business name gives you “dibs” and ensures that competitors aren’t able to snag it while you’re preparing for launch.
If your business name is unique, including unusual spellings or characters and/or family names, it may not be necessary to reserve a Wyoming business name ahead of time. Plus, paying the extra state fee to reserve your business name could be a waste of resources if you’re planning to launch your business soon after.
How Long Does a Wyoming Business Name Reservation Last?
Anyone planning to do business within the state of Wyoming can reserve an entity name. Filing your name registration prevents another entity from using that name to conduct business in the state during the time of your hold.
An entity name registration in the state of Wyoming gives you 120 days as the sole owner of that name. If you don’t form your LLC in these four months, your name will be released to the public, so it’s important to plan out your timeline.
If you need someone else to manage the reservation, you can transfer it by filing a signed notice of transfer with the Secretary of State’s office. This notice must include the name and address of the transferee.
How do I Reserve a Business Name in Wyoming?
Got a name in mind? Perfect. Follow these steps to reserve it.
Before submitting your application to reserve your business name, you first need to check name availability. The Secretary of State makes it easy with their business search tool. Just enter your desired name to see if it’s already in use. Don’t forget that you also need to comply with other business entity name restrictions from the state of Wyoming (find them all here). All good? Then check to see if your LLC name is available. If it is, let out a sigh of relief—you’re ready to reserve it.
All you’ll need is this form and a $50 payment. The form itself is fairly straightforward. It only requires a few pieces of information: the proposed business name, your name, your address, and your signature. When you’re all finished, include a check or money order (payable to “Wyoming Secretary of State”) and mail it to:
Wyoming Secretary of State
2020 Carey Avenue, Suite 700
Cheyenne, WY 82002-0020
If you’re local to Cheyenne and need an excuse to get out of the office, you can also hand deliver it to the same address.
That’s all there is to it. The Secretary of State’s standard processing time is 3-5 business days, so your name will be reserved. For now, start thinking ahead to the next step in the process: the Articles of Organization.
Wrapping up and Choosing the Best Route
Your LLC name is an important part of the business. If you’re not ready to launch your business, but you’ve got a perfect name and you think someone else might claim it, consider reserving it.
However if your business is ready for takeoff, use our comprehensive guide to forming an LLC in Wyoming to get started instead. This way, rather than paying an additional $50 for the name reservation application, you’ll only pay the one-time $100 Wyoming LLC formation fee to claim your name and form the LLC at the same time.
$50 isn’t a fortune by any means, but this will at least save you the hassle of reserving a name and registering an LLC separately.
Save Time by Using a Professional LLC Service
As a business owner, you have a lot to think about. Pile on the responsibility of handling state correspondence, tax information, and more while keeping your LLC compliant, and you’ve got yourself a pretty full plate.
Sometimes the best move is to let someone else take care of the paperwork for you. This way, you can sleep easy knowing you’ll never miss a deadline or compliance requirement with the state of Wyoming.
While LegalZoom is by far the most well-known LLC formation service and has decent overall value, we highly recommend looking into ZenBusiness or Northwest Registered Agent. We’ve done the research so you don’t have to, and these two are reliable, professional, and efficient.