Operating a business under a 'Doing Business As' (DBA) name, also known as a fictitious name or trade name, is common for sole proprietors and partnerships. It allows you to use a business name different from your personal name or the legal name of your partnership. However, a DBA offers no legal separation between you and your business. This means your personal assets are at risk if your business incurs debt or faces a lawsuit. Converting your DBA to an LLC (Limited Liability Company) is a strategic move that provides crucial liability protection, separating your personal assets from your business obligations. This guide will walk you through the process of transforming your existing DBA into a formal LLC. We'll cover why this transition is beneficial, the steps involved across different states, and how Lovie can simplify the entire company formation process for you. Understanding the distinctions between a DBA and an LLC is the first step towards making an informed decision that safeguards your financial future and enhances your business's credibility.
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