Luke: It just means you're a single business entity. You'll both be officers and shareholders and you'll get to make up a name for your company.
Lorelai: Oh, I'm terrible at coming up with names. When we first bought our house, Rory and I wanted to name it. You know, like Jefferson named his place Monticello but we could only come up with "The Crap Shack".
Luke: Nice.