I apologize if this has been asked before, I've been trying to search all morning, but I keep getting a "database error" so I think the search functionality is broken at the moment.
I have a hypothetical question that came as a result of a graduate class:
I'm looking at starting a business, and the name I want is available for use within my state, however, someone had the name before I did. I'm curious if I were to start using that name, would I be responsible for any debts the company may have owed but never paid? Conversely, if the company is owed money by someone (a government entity for instance) would I be able to collect on that money? My gut instinct in both situations says no, because this would be a separate corporation with a different set of bylaws and officers, but given the ambiguity that sometimes surrounds corporations, I started debating it internally.
Just as an example, if I were to register the name Montgomery Ward or Circuit City (and let's assume there's no trademark infringement issues) and start doing business under that company name, common sense would say I would not be responsible for any of the old Montgomery Ward or Circuit City debts, and I would not be entitled to any of their assets, if any were to pop up (like money being owed to them). But I like to make things complicated and started over thinking it, so now I can argue both sides of the coin, lol.
Any thoughts on the topic?
