For the benefit of those asking the meaning and difference between Business names and Limited Liability companies...

Read the adequate information on the subject matter.

It's a must-read for every Entrepreneur & Business Owner.

Business name:


Explanation; A Business Name means the name and style under which a business is carried on. A Business Name may be a Sole Proprietorship or a Partnership. It is a Sole Proprietorship if it is carried on by an Individual or a Corporate Body solely. It is a Partnership if it is carried on by two or more Individuals or Corporate Bodies or a combination of Individuals and Corporate Bodies. A Business Name does not enjoy a legal personality. It is not separate from the proprietor or partners for liability. The liability of the proprietor or partners in a Business Name is not limited.

Limited Liability Company:

Explanation; A Company is a business arrangement that enjoys legal personality. It is a corporate body and separate from its members (owners). The liabilities of members (owners) of a Company may be limited by shares or guarantee or unlimited. A Company may be public or private. The name of a Company must end with the word “Limited” or “Limited by Guarantee” or “Unlimited” or their abbreviations (“Ltd or PLC” or “Unltd” or “Ltd/Gte”)

(Company name registration with #1,000,000 shares is #50,000, and the higher the shares, the higher the prince to register it)

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