This certificate is not very common and it is only used when the company isn’t a sole proprietorship or in simple words, when there are multiple partners owning and running the company. Before the company owners can use a fictitious or assumed name in order to conduct business with clients and other companies, they are required to ask for permission from the local trading department and they are asked to enter a formal letter of consent from each partner stating that they agree with the process and they support the decision of the general partner to use an assumed name for the company.
Brief Description of the Fictitious or Assumed Name Certificate by Partners:
If you are the only who one is running and handling a company, you can make any type of decisions that you want and in order to make those decisions legal, you don’t need to get authority letters from your managers or employees. But, when there are multiple partners involved in a business either general or limited partners, only one partner or the CEO of the company can’t make important decisions without asking the other partners to agree with him. The same thing happens when such company files an application for permission to use a fictitious or assumed name for the company. When this particular certificate is sent to the local trading department, they notice that this company has multiple shareholders and partners and in order to allow the owner of the company to use a fictitious name, they want to make sure if other partners agree with this decision and if they take responsibility for any liability related to the company or not. So, they ask the applicant to produce fictitious or assumed name certificates by each partner. This certificate acts like the authority letter or permission document from the partners that states the partners have made this decision together and they take the responsibility of any liability that might come with the permission to use a fictitious name for the company.
Key Elements to include in the Fictitious or Assumed Name Certificate by Partners:
- The exact or true name of the entity/corporation that is filing for the certificate
- The assumed or fictitious name that the corporation wants to register for business use
- Reference to the particular law of the local government that allows the corporations to use fictitious or assumed name
- Complete address of the corporation head office where it conducts the business along with the addresses of its franchises and branches in other cities and states
- Indicating the names of cities, states and countries in which the corporation is doing business or wants to conduct business under assumed name
- Proper reasons of using fictitious or assumed name for the corporation (if applicable)
- Name of the owners, partners, shareholders and members of board of directors in the corporation
- Sworn statement of all the partners asking for the permission to use assumed name
- Date when the corporation came in existence/started its business
- Signatures of the partners and owners of the corporation
Here is preview of a Free Sample Partners Certificate Template (Fictitious or Assumed Name) created as PDF Format,
Here is download link for this Partners Certificate Template (Fictitious or Assumed Name),