Can't use the word BANQ in company name. SOS!

[JimmyTheGeek]

Jurisdiction

Delaware

I have a great website domain (.com) that I want to use for a business but for legal reasons, we aren't allowed to file a company in Delaware under that exact name because it contains 'banq' within the word which isn't allowed. They consider it a derivative of 'bank'.

I'm looking for an attorney that can point me in the right direction. For example, can I file my company in a different state that complies, then have a different Delaware corporation own this company and its domain? What state could I use? That way my startup still gets Delaware law protections.

In a worst-case scenario, are we allowed to use a completely different website domain than what our company name is filed under? I can't file a DBA in Delaware under this name either. The reason I really want to have something incorporated under this name is that we will fundraise under this name and it will make compliance for our investors as easy as possible.

If you have any other viable options that satisfy this problem please let me know. Thanks.

 

[justblue]

I have a great website domain (.com) that I want to use for a business but for legal reasons, we aren't allowed to file a company in Delaware under that exact name because it contains 'banq' within the word which isn't allowed. They consider it a derivative of 'bank'.

I'm looking for an attorney that can point me in the right direction. For example, can I file my company in a different state that complies, then have a different Delaware corporation own this company and its domain? What state could I use? That way my startup still gets Delaware law protections.

In a worst-case scenario, are we allowed to use a completely different website domain than what our company name is filed under? I can't file a DBA in Delaware under this name either. The reason I really want to have something incorporated under this name is that we will fundraise under this name and it will make compliance for our investors as easy as possible.

If you have any other viable options that satisfy this problem please let me know. Thanks.

Here is the website for the State Bar where you can get referrals for an attorney (or 5).
Home 3

 

[zddoodah]

for legal reasons, we aren't allowed to file a company in Delaware under that exact name because it contains 'banq' within the word which isn't allowed.

Says who?

They consider it a derivative of 'bank'.

Who are "they"?

can I file my company in a different state that complies

What does "file my company" mean? Complies with what?

If you're asking whether you may legally incorporate a corporation or organize an LLC in a state other than the state where the company has its primary place of business, the answer is yes.

then have a different Delaware corporation own this company and its domain?

You certainly can have multiple levels of corporations. Doing so will create LOTS of expenses and complications.

What state could I use?

Any of these.

That way my startup still gets Delaware law protections.

Protections against what?

are we allowed to use a completely different website domain than what our company name is filed under?

Of course.

I really want to have something incorporated under this name is that we will fundraise under this name and it will make compliance for our investors as easy as possible.

You absolutely need to retain the services of a local business attorney (especially if your screen name is a hint at the sort of business you intend to conduct).

 

[adjusterjack]

See also:

(1) Can't use the word BANQ in company name. SOS! | Forum.FreeAdvice.com

 

[JimmyTheGeek]

Says who?

I tried filing under the same name as the .com and the Delaware Secretary of State rejected it and said I needed approval from the Delaware Banking Commissioner.

Who are "they"?

The Delaware Secretary of State.

What does "file my company" mean? Complies with what?

File my company meaning incorporate to get an EIN and bank account. Also, another state that doesn't restrict the use of 'banq' in a company name.

If you're asking whether you may legally incorporate a corporation or organize an LLC in a state other than the state where the company has its primary place of business, the answer is yes.

Wondering which state I could incorporate in where I could use 'banq' in the company name.

You certainly can have multiple levels of corporations. Doing so will create LOTS of expenses and complications.

Unfortunately, I know. That's why I'm turning to free online forums to keep my legal bills as minimal as possible, lol. But it's imperative we have use of this domain and are in appropriate legal standing.


Any of these.

Thanks.

Protections against what?

Delaware is the best state suited for startups and legal protections.

Of course.

But without needing to file a DBA? Will I only need to trademark our domain name? (.com)

You absolutely need to retain the services of a local business attorney (especially if your screen name is a hint at the sort of business you intend to conduct).

 

[zddoodah]

Please don't respond to prior posts within the quote boxes.

That way my startup still gets Delaware law protections.

Protections against what?

Delaware is the best state suited for startups and legal protections.

As I think is obvious, this does not answer the question I asked: protections against what? And, since you've made a new point, why do you think Delaware is "best suited for startups"?

In this regard, I'm going to quote something posted at the other site where you posted this identical inquiry:

"Also, if you will not be operating the business in Delaware, why do you want to form your business in that state? Delaware offers great protection and service for large publicly traded businesses. Most of those benefits don't help a small privately held business. But it can subject you to additional burdens that you would not have if you simply organized the business in your state or a state in which you actually conduct business. Bear in mind you still have to register the business in any state where it will do business so you you'll be registering in those states anyway. So if you aren't doing business in Delaware then registering there is simply adding another layer of unnecessary administrative burden for you."

But without needing to file a DBA? Will I only need to trademark our domain name? (.com)

You do not need a fictitious business name registration to use a particular domain name. Nor do you need to file a trademark registration (although filing to register a mark would have clear benefits).

 

[flyingron]

Having a domain means squat (and domain name disputes aren't guided by any sane rule of law to begin with).

There's nothing you can do with litigation to change this. Delaware is rightfully adamant not to allow bank, trust, university, or college (or variants of this) in names when you do not have approval from the appropriate state regulatory agencies for this.

HINT: there are 49 other states and the District of Columbia that have different rules on corporation names.

HINT: The domain name and the name of your corporation do not need to be related. At worst, you need to make fictitious name filings in areas where you're actually working. Domain names often are related to the company TRADEMARKS. For instance, SUBWAY (as in the sandwich restaurants) is a Trademark. Subway.com is their website. The company name is "Doctor's Associates" (or something like that).