What is KYB (Know Your Business)?
KYB, know your business, is the check that a company exists, is registered and is in good standing. LiveRec checks a US company's EIN and state registration. It is separate from KYC checks on people. Employers see a verified mark once it passes.
What a KYB check looks at
A business check answers one question: is this organization what it says it is? For a US company that usually means three comparisons:
- Legal name. The name given must match the name on the state record.
- EIN. The employer identification number is the federal tax ID the IRS assigns to a business.
- State registration. The company should be registered in its state and in good standing there.
KYB compared with KYC
KYC, know your customer, checks a person, for example by matching an ID document to a face. KYB checks an organization. The two checks answer different questions, so one never replaces the other.
What a pass does and does not mean
A pass means the records matched at the time of the check. It does not endorse the company, its pay or its hiring practices, and it does not guarantee any job. Job seekers should still read the posting, check the company's own website and never pay anyone to get a job.
How it shows up for you
Employers see a verified mark on their company once the check passes, and candidates see it beside the company name on the public company page. Employers can read what the Verified business badge means and how to verify with an EIN and state.
Example
A company's legal name, EIN and state are matched with the state record. When they match, the company can show the Verified mark; until then its profile shows Not verified.