Owning a business in your name, could either make or mare your reputation. ‎

[boyptc]

There is nothing to hide. I think that I've seen this on TV that politicians, gang leaders, bad people who has hidden wealth are hiding in the names of others through businesses, ventures, etc. as their sock puppets.

You are standing up for your own name and I don't think that you're going to put stain in your name as you do that business.

But if you are unsure with that setup, no one is forcing you in doing that and you can have someone it under your management. A lot of business setup can be done if you're not comfortable doing that.

[Loyang]

There is nothing to hide. I think that I've seen this on TV that politicians, gang leaders, bad people who has hidden wealth are hiding in the names of others through businesses, ventures, etc. as their sock puppets.

You are standing up for your own name and I don't think that you're going to put stain in your name as you do that business.

But if you are unsure with that setup, no one is forcing you in doing that and you can have someone it under your management. A lot of business setup can be done if you're not comfortable doing that.

Yes, this happens not only on TV but also in real life. Because it is the best way to hide the black money they have. If someone adopts this method, then the chances of getting caught are much less.

But yes, if we talk about personal things. Then I will never give the name of my business in my name. The name of the business depends on it about 50% to attract people. For example, if I open a bus company and my name is A, now if I open the company with the name A, then it definitely does not look good. But if I open my bus company with the name GoNaija, it looks very good and many people will be attracted by this name. So I think the name of the business depends on the name of 50% to attract customers.

[Dareo]

but the question I just wanted to ask is this; is it a good practice to register and own a business in your real name mostly when you know others both good and bad can make reference to the name, or it is not adviced to do so because it could destroy your reputation Incase something bad happens?
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You are actually confusing the address of the place with personal liability, If a tenant commits a crime in your house, the law enforcement agency knows very well who the criminal is and who the owner of the house is. For example if a tenant in your house commits a crime, the police will definitely not catch you. Having your name on the street name or house address simply carries a geographical identity, and no legal or social liability for the tenant's personal good or bad deeds will fall on your reputation. So there is no logical reason to be so afraid of using your name as an address.

[boyptc]

There is nothing to hide. I think that I've seen this on TV that politicians, gang leaders, bad people who has hidden wealth are hiding in the names of others through businesses, ventures, etc. as their sock puppets.

You are standing up for your own name and I don't think that you're going to put stain in your name as you do that business.

But if you are unsure with that setup, no one is forcing you in doing that and you can have someone it under your management. A lot of business setup can be done if you're not comfortable doing that.

Yes, this happens not only on TV but also in real life. Because it is the best way to hide the black money they have. If someone adopts this method, then the chances of getting caught are much less.

But yes, if we talk about personal things. Then I will never give the name of my business in my name. The name of the business depends on it about 50% to attract people. For example, if I open a bus company and my name is A, now if I open the company with the name A, then it definitely does not look good. But if I open my bus company with the name GoNaija, it looks very good and many people will be attracted by this name. So I think the name of the business depends on the name of 50% to attract customers.

I think that you misunderstood it. We don't definitely put our names in our business as the business name but, under that business is our name as the owner of it.

But you're right with the idea of having it with a different name like your example. On paper, it's not actually under your name as the business name.

Business name is different but you as the owner of it is written in the registration.

[Mpamaegbu]

... If you also own many businesses in your real name it then means that if one of them faces bad reviews, it will affect all your other businesses and this is the reason why some business owners use different business names for all their businesses.

It's also for that reason I don't like the idea of anyone yoking their businesses under the umbrella of a "subsidiary of..." Let each business exist as a separate entity, and away from exposing them to each other/one another. It's so that they don't become an object of attack by mob action or whatever if something goes wrong.

I am forced to ask because I'd like to know if it is a mistake that some business people have done before starting up companies in their families name. I think most people have a reason they choose to give their company certain names especially those who have an experience in business and for people who establish a company's name using their family's name I believe that their intention is for the business to be one that is generational one that can be pass down from one family member to another and even though this can also be done without giving the business your family name, the advantage your family name has owing a very successful business /company is very huge, just by owing that surname, your great grandchildren could have doors opened for them.

The picture you painted there is that of inheritance, of a business passed from parent(s) to offspring or whatever. I'm talking of one  starting up one's business from the scratch. Again, while I believe that a good family name can keep doors open, it can also shut it. Whatever that has an advantage, also has a disadvantage, we were taught in school .

Some examples of these successful business named after family is Dangote group (Nigeria), Tata group (India), etc Any individual bearing that surname has recognition even if they are not directly related and it is because of business success.

I'm not conversant with the TaTa group in India but for Dangote, he didn't inherit any company from his father, Mohammed Dangote. It was his maternal uncle who was instrumental to his starting up a business that's now what we've as Dangote group.

[oll]

‎I don't know if I expressed myself clearly,  but the question I just wanted to ask is this; is it a good practice to register and own a business in your real name mostly when you know others both good and bad can make reference to the name, or it is not adviced to do so because it could destroy your reputation Incase something bad happens?
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I understand absolutely clearly and understandably that you want to know how appropriate it is to associate your personal identity (in terms of your name) with your business.
And my answer is that all businessmen can be divided into two types: the first type is those who are always in the shadows, and their companies are not named after them, these guys don’t publicize themselves at all, and we only see the results of their work. Like Larry Fink, who hid behind BlackRock for a long time. And then there are those who constantly show their face and tie their name to their business. And these are public figures, or, if we’re talking about cryptocurrency, what we call “talking heads.”

[Bitcoin Smith]

~
I'm not conversant with the TaTa group in India but for Dangote, he didn't inherit any company from his father, Mohammed Dangote. It was his maternal uncle who was instrumental to his starting up a business that's now what we've as Dangote group.

Tata groups is really an interesting business structure, they simply don't choose anyone to pass on their legacy and they don't even own the company because it is under the possession of Tata trust, they only select the CEO/chairman for the compnay when they are a deserving one. Tata is probably the biggest company in the world, they almost have industrial operation in all parts of the world.

[Leahized]

Having your name on the street name or house address simply carries a geographical identity, and no legal or social liability for the tenant's personal good or bad deeds will fall on your reputation. So there is no logical reason to be so afraid of using your name as an address.

You are right about the argument. But any tenant carries their own identity. However, a landlord never recommends personal identity to another person. If not very trustworthy. And sufficient inquiry should be made about the tenant. Because there are many individuals who move into a new house after being involved in criminal activities. Which poses a threat to the landlord. And making such mistakes continuously will ruin the reputation.

In particular, any organisation, institution or landlords must be sufficiently aware of this relationship. Because no decision should be made that is detrimental to others. As a result, there is a possibility of damaging the reputation.

[Muba20]

Personally, I believe it's not whether the business is registered under your personal name or not but how much your personal identity is attached to the business. A trustworthy business name is a personal-name business since the customers know who is behind the business name, and reputation management is more personal in a personal-name business. If the company decides to change its course, is sold off, or is involved in controversy, it may provide some separation with the brand name. Meanwhile, owning a brand doesn't cover the owner much from the legal and financial records. So I would select based on the type of business, not because of the fear that somebody else might be using it or misuse the name.

I agree with you to a large extent, especially the way you have highlighted the relationship between the business and the identity and reputation of the owner rather than the business name, which I find quite important. There are many businesses, large and small, where people trust the founder more than the name of the organization. However, I see one slight difference. It is not that doing business under a personal name will create more credibility, but ultimately it is the quality of the product, service, transparency and long-term good use and behavior that creates that trust.

In my opinion, choosing a name is more about identity and reputation than branding. If you use a personal name, the reputation is directly associated with you, whereas if you use a different brand, that reputation is partly built within the organization and has various advantages and disadvantages. I have a question here, if a business is sold in the future and its ownership and management completely change, will the old brand's reputation remain an asset to the new owner, or will it have to be proven a new?

[Berry2d]

Same way it is good starting business with our names is same way it is starting with the names of others because to every advantage their must be a disadvantage also.
With the current situation at hand in our present society today I will say it is better keeping our identity hidden than making it open for all to know because of security reasons. Many get involved in some challenges not because of their carelessness but because of envy and the wickedness of others close to them who have seen what the reward of there Labour has turned to. Even at that i will say their is no need hiding or establishing businesses with the name of others because we don't know what tomorrow may look like.

[bhadz]

With the current situation at hand in our present society today I will say it is better keeping our identity hidden than making it open for all to know because of security reasons.

For a normal citizen in my country who's looking to start a business, this can't be done. You will even be flagged by our government as an illegal business. We want privacy and we don't want to use our identities but if it's about business permits and other permits that we have to apply, it is needed that we personally will have to do it and name it after us. Only corporations that are not forced to put the names of their own leaders can put their board members or anyone in the organization as the registered name for their trade mark.

[gracreavix]

I don't see anything bad in using your name to open a business. It builds trust over the years with your customers. But with this like this comes a downside. We should all agree that most things have advantage and disadvantages. But before we accept what to do, we should weigh the advantage to see whether they are more than the disadvantages and incorporate them in our lives. When you use your name to open a business, it creates trust yes.

 But still it will be easy to link any negativity to you even though you never indulged in it. That's fatal if you ask me. Cause your reputation can be washed down the drain even though the case is still going on without proving you guilty of anything negative.

[B-BossMan]

I don't see anything bad in using your name to open a business. It builds trust over the years with your customers. But with this like this comes a downside. We should all agree that most things have advantage and disadvantages. But before we accept what to do, we should weigh the advantage to see whether they are more than the disadvantages and incorporate them in our lives. When you use your name to open a business, it creates trust yes.

 But still it will be easy to link any negativity to you even though you never indulged in it. That's fatal if you ask me. Cause your reputation can be washed down the drain even though the case is still going on without proving you guilty of anything negative.

Exactly my point if views, some already existing names draws people's attention towards your business and more trust on your business. I know of many small skill business in our area that make used of thier names and everything were going fine. Especially when the family name has made a fame to some certain level, despite the m advantages and the disadvantages, in has far as the name has already made a strong fame, trusting when using it as the business name is never a bad ideas. Name attract customers to test your standard, the only thing is, you don't just wake up one day and start using anyhow name, let the name you are using in as your business name has the meaning, let it be properly registered and prevent anything that will bring a bad records in order to spoil your good reputation, because people can choose to make a fake products using your name and spoil your market for you.

[Crypto_Timothy]

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‎I don't know if I expressed myself clearly,  but the question I just wanted to ask is this; is it a good practice to register and own a business in your real name mostly when you know others both good and bad can make reference to the name, or it is not adviced to do so because it could destroy your reputation Incase something bad happens?
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I think it's bad to use your sne for your business, unless there is a special case where more than 70% of your tenants are criminals and it somehow makes the news, maybe your name might carry some bad eggs but outside that, I only think it when and if you yourself spoils your name that's only when it can give you a bad reputation. The good part though just like you said, the more people use it in documents and even as a landmark for public vehicles, it can make you more popular that's if you weren't already known in the area. There are several risks when it comes to owning a business, you have to be conscious of those risk and be certain you can afford them otherwise you should not be doing business.