The New York Reservation of Limited Partnership Name is a process that allows individuals or entities intending to form a limited partnership in the state of New York to reserve a specific name for their partnership. This reservation ensures that no other entity can use the same name during the reservation period. The reservation process is carried out with the New York Department of State's Division of Corporations, State Records, and Uniform Commercial Code. By reserving a limited partnership name, individuals can secure their preferred business name for a specified duration, enabling them to proceed with the formation and registration of their partnership without the worry of another entity preempting their chosen name. To initiate the New York Reservation of Limited Partnership Name, applicants must file a written request with the Department of State, providing the desired name, along with a fee for the reservation. The name must conform to the New York State Partnership Law and adhere to specific requirements, such as including the words "Limited Partnership" or the abbreviation "L.P." within the name to reflect the partnership's legal structure. It is important to note that the reservation period for a limited partnership name in New York lasts for 60 days, during which the name is exclusively held for the applicant. This time allows the applicant to complete the necessary paperwork and fulfill the requirements for registering the limited partnership with the state. If more time is needed, a 60-day extension can be requested, but this must be done before the initial reservation period expires. In New York, there are no distinct types or variations of the Reservation of Limited Partnership Name process. However, it is vital to ensure the chosen name does not infringe upon any existing trademarks, copyrights, or other legal rights. It is recommended to conduct a thorough search of the Division of Corporations' database and consult legal professionals to ensure the name is available and does not violate any regulations. In summary, the New York Reservation of Limited Partnership Name is an essential step for individuals and entities aiming to establish a limited partnership within the state. By reserving a unique name, applicants secure their business identity, providing a foundation for successful registration and operations. Conducting proper research and complying with the relevant regulations will ensure a smooth reservation process and help establish a strong foundation for a limited partnership.
New York Reservation of Limited Partnership Name
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How to fill out New York Reservation Of Limited Partnership Name?
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After receiving confirmation from state authorities that the name is available, you may reserve it. Reserving company names creates your intention of using the name and prevents others from using it.
A limited partnership is a partnership formed by two or more persons under the provisions of section ninety-one, having as members one or more general partners and one or more limited partners. The limited partners as such shall not be bound by the obligations of the partnership. N.Y. Partnership Law § 90.
Reserving a name places a ?hold? on the name for a limited period of time. Names are often reserved because the documents necessary to create the entity, to amend its name, or to add an assumed name, are not yet available for filing.
Name reservation protects the preferred name of your entity while you prepare to file formation documents with the state. Depending on entity type, reservations may be eligible for renewal if more time is needed.
Reserving a business name establishes your intent to use the name and keeps others from using it in the meantime.
You can also just say "I have a reservation under Franklin". If I were actually showing up at a restaurant, I'd most frequently use "for" -- "Hi, we have a reservation for Franklin." "In the name of" has a slight implication that you're making the reservation with a name other than your own.
Filing the name reservation application is an online process at .mca.gov.in. For company name reservation the application is filed in Part A of the Spice Plus form and for LLP the application is filed in RUN Form.
Complete and file an Application for Reservation of Name with the Department of State. The completed Application for Reservation of Name, together with the statutory filing fee of $20, should be forwarded to: NYS Department of State, Division of Corporations, One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231.
