New Mexico Reservation of Limited Partnership Name
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How to fill out Reservation Of Limited Partnership Name?
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FAQ
What does it mean to reserve a name? By reserving a name with the secretary of state before forming your business in your home state or registering your business in a foreign state, you temporarily prevent others from using it for their entities.
An entity name refers to the legal name of the 'entity' which your business conducts itself under. In the case of a company, this will be the legal name of the company itself which was set up at the time of registration (e.g. SPRINTLAW PTY LTD).
Name reservation protects the preferred name of your entity while you prepare to file formation documents with the state. Depending on entity type, reservations may be eligible for renewal if more time is needed.
Reserving a name places a ?hold? on the name for a limited period of time. Names are often reserved because the documents necessary to create the entity, to amend its name, or to add an assumed name, are not yet available for filing.
A ?legal name? is the name that appears on the formation document of a corporation, LLC, LP or other statutory business entity. The name appearing at the time of formation is its original legal name. A business entity may change its legal name as often as it desires during the course of its existence.
You'll do this by completing an Application for Reservation of Name form and filing it with the New Mexico Secretary of State. The name will be reserved for 120 days. If you're starting your business right away, you don't need to reserve a name.
Business Name Reservation vs. It's also not required in most states, but many small business owners find the process helpful. Registering is different because you get ownership of your name when you create your business entity with that name. However, that registration is limited to the state where you complete it.
It is very easy to set up a sole proprietorship in New Mexico and can be done without filing legal paperwork with the state. On the other hand, an LLC must be applied for with the state, and you are required to keep up any fees and requirements to stay in compliance.
