Q: Is it legal in INDIANA to own 2 corporations with the same name at the same time??? If so what are the statutes ???
We are trying to find out if it is legal in INDIANA to own 2 corporations with the same name at the same time??? If it is what are the statutes that allow said law. EX: ABC Inc. and ABC Inc.
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A: Indiana Code 23-1-23-1(b) says that the name of a corporation has to be distinguishable from the name of another corporation or other business entity organized in Indiana. So, no, there should not be two Indiana corporations with the same name. In fact, there should not be an Indiana corporation named ABC, Inc. and an Indiana LLC named ABC,LLC. At least not at the same time. Note that once a corporation or LLC is dissolved (either volutarily or administratively for failing to file business entity reports), the name is up for grabs. That's one way a search for business names on the Indiana Secretary of State web site might turn up two corporations with the same name -- one current and one dissolved. In addition, there may be a corporation organized under another state's laws with the same name as an Indiana corporation (and there's nothing to prevent them from being owned by the same person), but if the corporation from the other state (called a "foreign corporation") tries to register to do business in Indiana, the Secretary of State will require it to pick an assumed business name (i.e., a "dba") that is unique, so as to prevent confusion with the Indiana corporation. I'm not sure, but I suspect a search of the Secretary of State's web site for the name of the Indiana corporation would also turn up the foreign corporation.
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