From Portland Business Brokers Group.
Identify the registration being changed
An assumed business name is not the same record as a corporation or LLC. Check which entity or person holds the name before deciding what the closing documents need to address.
Use the procedure for that record
The Oregon Secretary of State lists a paper ABN Amendment form for assumed name updates. Its guidance says there is no online filing option for that amendment.
Corporation and LLC information changes have a separate process. Do not treat an entity update as proof that a name amendment or sale document has been completed.
Coordinate the business name handoff
- Match the registered name to the purchase agreement.
- Identify who will use the name after closing.
- Check related domain, trademark and brand ownership.
- Confirm the appropriate filing with the Corporation Division.
Changing a registration does not replace a negotiated transfer of intellectual property. Have counsel review what the buyer receives and which rights the seller retains.
Keep other accounts consistent
Prepare a separate list for banks, payroll, tax accounts and permits. A change accepted by one office does not automatically settle every other record.