I haven't been able to find the answer to this question on Google (not sure how to frame it in a search function), but can a new business be named after a defunct business?
All examples I scammed from Wikipedia (I'm no genius):
Pan American World Airways (colloquially known as "Pan Am") went bankrupt and had its assets purchased by several different entities, such as Delta and United Airlines. Would someone theoretically be permitted to name a new airline company Pan American World Airways or officially name itself Pan Am?
Hecht's was bought out by Macy's and had its store names replaced by Bloomingdale's and Macy's. Do the purchasers of a company that change the name still own the name indefinitely? Could they keep someone from using the Hecht's name for a department store in 2050?
Final example is Barings Bank. When it went bankrupt is got bought by ING, which sold its U.S. operations to ABN AMRO; however, ING kept Baring Asset Management (BAM). ING later sold BAM to MassMutual, selling the rights to the name Baring Asset Management, but also selling part of the firm to Northern Trust. Could someone theoretically open a bank called Barings Bank?
Obviously if you openned a business in a totally unrelated industry you would probably have no issue. For example, Pan Am Deli, Hecht's BBQ, or Barings Dry Cleaning.
Macy's is a good example - they own the name rights to Hecht's, Marshall Field's, and a ton of regional names that no one else can use once they bought those stores. I assume the answer is "it depends," if a firm goes tits up and no one buys the rights, in theory you'd be good
Are you trying to name the bank you started Lehman or something?
Dibs on Drexel Burnham Lambert.
I would use "Long Term Capital Management"
LOL, I'm just curious because I'm a history buff and there are a lot of historical names out there that are no longer in use. I may have the opportunity in the next 24 months to name a company that could be legit large company in the next few years and I think it would be cool to reach back into the recesses of history and reanimate a dead brand. Obviously, I'll have lawyers look at any naming convention, but I was just curious what the thoughts were from some of you who may have some insight.
Longer Term Capital Management
If it has ceased trading (naturally) then you can. If it ceases to exist because it was purchased/merged, you cannot.
Don't confuse companies that went bust and were bought with ceased trading.
Yeah, but I guess the confusion is those that go bust and whose parts get bought up. I guess Hecht's is a pretty straightforward example of a company that was bought and had its name changed. No go. But take Pan Am--it went totally bankrupt and had its parts purchased by several companies. Same thing with Barings Bank. It went totally bust and had its parts bought up and sold by and to many different firms.
In the cases of bankruptcy someone may have purchased their name trademarks, or it would still be held by the bankrupt estate. Either way you'd have to buy it (unless trademarks expire after a certain number of years if not renewed.)
Dibs on Dutch East India Company for me.
That would be an awesome name!
This answers many of the questions:
http://inventors.about.com/od/inventing101trademarks/f/expiration.htm
Unlike copyrights or patents, trademark registration rights can last indefinitely if the owner continues to use the mark to identify goods or services.
The term of a federal trademark registration is ten years, with ten-year renewal terms. However, between the fifth and sixth year after the date of initial trademark registration, you must file an "affidavit of use" and pay an additional fee to keep the registration alive. You must also file an affidavit and pay a fee within a year before the end of every ten-year period.
If an affidavit is missed, the registration is canceled. However, you may file the affidavit within a grace period of six months after the end of the sixth or tenth year, with payment of an additional fee.
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