Pennsylvania Reservation of Name/Transfer of Reservation [DSC:15-208] is a process that allows a business entity to reserve a corporate or assumed business name for a period of 120 days. The business entity must have an active status in the state of Pennsylvania in order to reserve a name. There are two types of Pennsylvania Reservation of Name/Transfer of Reservation [DSC:15-208]: Corporate Name Reservation and Assumed Name Reservation. A Corporate Name Reservation reserves the right to use a corporate name that is not the same as, but similar to, a name already in use by another corporation, limited liability company, or limited partnership in the state of Pennsylvania. To reserve a corporate name, the business entity must complete the Corporate Name Reservation form and submit it to the Department of State. An Assumed Name Reservation reserves the right to use a fictitious or assumed business name in Pennsylvania. The Assumed Name Reservation form must be completed and submitted to the Department of State in order to reserve an assumed name. For both types of Pennsylvania Reservation of Name/Transfer of Reservation [DSC:15-208], the reservation of the name will remain in effect for a period of 120 days. However, the name may be transferred to another business entity at any time during the 120-day period. To transfer the reservation of the name, the business entity must complete the Transfer of Reservation form and submit it to the Department of State.