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Is a registered business necessary

Labeled as question in General Domain Discussion, started by jaggs, Sep 11, 2020

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  1. jaggs

    jaggs Established Member

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    Should ones names be associated with a legal business to look more professional?
    If so would a the business name example( Nelsons Ventures) work? Or should the business name reference Domain Names? example Nelson Names, sky names or domain logic
     
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  2. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    Is it necessary? No.
    Can it be helpful in some ways? Sure.

    The vast majority of small businesses are LLC, which is a pass-through entity.

    This means when it comes to taxes your business itself doesn't pay the taxes, they are passed over to your personal taxes.

    There are tax benefits as well because you can deduct business expenses, then the income passes over to your personal taxes where you can take the standard deduction.

    There are also benefits when it comes to asset protection.

    This generally only matters on a large enough scale though, especially if you are a sole proprietor with limited domains, income, and expenses.

    As far as the name itself I would prefer something like Nelson Ventures vs Nelson Names.
    It is a more common ending, and it works a lot better should you want to branch out into different fields.

    I am personally not really a fan of domains with domains, names, etc. unless they are really amazing generics or brands.

    My company is DataCube LLC. I like the name because it kind of works for anything in the tech field.

    Brad
     
    Last edited: Sep 11, 2020
  3. passini

    passini Established Member ★★★★★★★★★★

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    Are you going to sell your domains directly? If this is the case yes a business is the better setup, a domain related company name can be helpful but not necessary. If your company has I generic name is fine. But for example if the name is ACME Gardening Services I think can be a problem. I remember another Art Dealer (this is my full time job) that was selling under the name of his other company (totally unrelated with art) and he soon understood he had to change the name.

    If you are selling on the various marketplaces it doesn't matter if you are a private* or your company name is not related.

    *Check in your country about selling domains as a private person. Every country has different rules but if you plan to sell seriously you may need to pay taxes and setup a company.
     
    Last edited: Sep 11, 2020
  4. jaggs

    jaggs Established Member

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    Thanks for the advice guys, think will go with the nelson ventures type biz name, since we already have a similar one set up.
    As far as email addresses any advice?
    [email protected]
    [email protected]
    or something else?
     
  5. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    I use my first name @ and sales @ for different uses.

    If your name was Dave Nelson, I would personally rather use [email protected] than a generic like domains. It shows a potential buyer that they are dealing with an actual person.

    Brad
     

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