You’re Bound to register your business name with the Australian Securities and Investment Commission (ASIC), as Long as you:
- Include different words in your organisation name contrary to your own. By way of instance, Graham Jones Pool Cleaning or Henderson & Sons would both require registration.
- Are trading under a name that’s anything but your own
- If you’re operating a company (like Legalities Pty Ltd) and you need to trade under a name that’s not your company name.
You’re not allowed to use an unregistered business name, or a title which is not either your own name, or your firm’s title.
Business name registration isn’t the same as trademark registration and doesn’t come with the very same rights and powers. If you wish to book your business name to your own exclusive use, you need to apply individually for trademark registration, as the searches, software, and application procedures are entirely different from one another. Business name registration doesn’t:
Selecting Your Business Name
A visually identifiable company name, together with the goodwill that includes the title, is an important asset to have if you are dealing with customers, creditors, and competitors. It’s worth investing time in finding a clever business name since this title could actually add value to your company. Your organisation name is fundamental to both your image and branding.
Your company name must reflect the character of your company. It should help customers understand what sorts of products and services you supply.
Ensure your business name or brand name is:
When you’re trading globally, check the appropriateness of your organisation name in different cultures.
After you’ve chosen a name for your company, you need to contact ASIC to ascertain whether your company name is still available for registration, and to register your company name.
The program can be performed online.
Your Australian Business Number (ABN) or, at least, an ABN application reference number
Your favorite business name and the period of time you would like to enroll for, be that either 1 year or three.
Registering your business name is cheap. It’ll cost you approx. $35 to enroll for a single year, upwards of $76 for three decades. After you have registered, you’re required to fulfill a variety of legal obligations. If you don’t comply with these duties, you risk being fined or losing your trade name.
Display your organisation name or your brand name: it’s very important that you display your company name outside of all of your business locations provided that the company is open to the general public.
Furthermore, all of your documents and correspondence need be monogrammed with your organisation name.
Once your business name is registered, you will be given a record of the. It is strongly recommended that you show this record in your place of business, although this isn’t enforced.
Renew your registration: So as to use the identical business name indefinitely, you’re required to renew your registration. If you fail to renew your registration, your company name is removed from the ASIC register and another party can use to enroll as their own. If this happens, you’ll have to stop operating under that company name.
Update your information: All changes to company ownership need be reported to ASIC within 28 days of happening, such as the names of owners or a change in address. Similarly, if you choose to change your company name or if you realize you’ve misspelled the title on your program, contact ASIC.
Shutting down your company: If you would like to cease trading, then you want to send a petition to ASIC at least 28 days before you shut down your business. ASIC will subsequently notify each of the other people listed on your organization name’s register, in addition to the business title holder. This check is done to prevent unlawful efforts to cancel out a company name.
If you’re planning to close your business, you need to send ASIC a petition to cancel your organisation name at least 28 days beforehand. ASIC will subsequently notify the company name holder (and some other people listed in the company names register).
When you are choosing your business name, you may want to select something that will also be acceptable for trademark registration. If you register your company name as a trademark in addition to a trade name, you can protect your identity from rivals. Trademark registration provides you exclusive and unique rights to your organisation name, including singular possession and protection against unlawful use.