When is it necessary to register your business name?
The Australian Securities and Investment Commission (ASIC) is required to register your business name.
- Other words can be added to your business name. You must register for Henderson & Sons or Graham Jones Pool Cleaning.
- Do you trade under any other name than your own?
- If you own a company, including legalities Pty Ltd, and want to change under a different name than your company name.
Only trading under your name is exempted from registration. This means you must first give your initials, phrase, and surname.
It is against the law to use an unregistered name for a business or any name that isn’t yours or your corporation’s.
The Rights of a Registered Name Owner
The registration of a business name is different from trademark registration. It does not confer the same rights or powers. You must apply for trademark registration separately to reserve your business name exclusively. The search, applications, and process for filing trademark registration are completely different. Business name registration does not:
- You will have exclusive rights to the business name
- Stop others from confusingly similar names being registered
- Stop other parties from using your business name in a trademark
- It would help if you stopped a trademark holder from using your business name. They will likely infringe on your rights.
- If you infringe upon their rights, you can prevent another party from taking legal action against you.
Choosing your Business Name
It is important to have a unique business name that is easily identifiable and has the potential to build trust with customers, lenders, or competitors. A clever business name can add value to your company and is worth the effort. Your business name influences your branding and image.
Your business name should reflect your business’s nature. It should be clear to consumers what services and goods you offer.
Make sure your brand or business name is:
- Sweet and short
- Easy to spell and pronounce
- Memorable
- Timeless
- Logical
- Inoffensive
- Not misleading
Check the suitability of your business name when you trade internationally.
Registering
After you have chosen a name for your company, contact ASIC to verify that your business name is still available to register and for any other information.
Online applications are possible. The following information will be required:
- Your Australian Business Number (ABN), or at the very least, your ABN application reference number
- You can choose your preferred business name and the period you wish to register for.
- Your business’s location
- Each owner’s full name and address
It is easy to register your business name. You will pay approximately. Register for one year for $35 and up to $76 for three. After you register, you must comply with a variety of legal requirements. Failure to meet these obligations could result in you being fined or losing trade names.
Your business name or brand name should be displayed. Your business name must be visible outside any business location as long as it is open to the public.
All correspondence and documents must be monogrammed with your company name. These documents include correspondence, invoices and statements, receipts, publications, notices, orders, and notices.
A record will be created once your business name has been registered. Although it is strongly recommended, you should display the form at your business.
You must renew your registration to continue using the same business name indefinitely. Failure to renew your registration will result in your business name being removed from the ASIC Register and can be registered by another person. You will have to stop operating the business under this name.
Change your details: All business ownership changes must be reported to ASIC within 28 calendar days. This includes the names and addresses of all owners. ASIC can also be contacted if your business name changes or you misspell it in your application.
Closing down your business: A request must be made to ASIC at least 28 calendar days before closing your business. ASIC will notify the other individuals listed on the register for your business and the holder of the business name. This is done to prevent illegal attempts to cancel a business name.
ASIC must be notified if you intend to close down your business. ASIC will notify the holder of the business name (and any other individuals listed in the business names registry). This prevents unauthorized attempts at canceling a business name.
