When Are You Required to Register Your Business Name?
You are obligated to register your commercial enterprise name with the Australian Securities and Investment Commission (ASIC), so long as you:
Include other words in your commercial register my business name enterprise call besides your very own. For instance, Graham Jones Pool Cleaning or Henderson & Sons could both require registration.
Are trading below a name this is whatever but your own
If you're operating a agency (inclusive of legalities Pty Ltd) and you want to alternate below a name that isn't your organisation call.
The best exemption to registration is if you are buying and selling below your very own call: that being your given name or initials, followed by way of your surname.
You are not permitted to apply an unregistered enterprise call, or a call that isn't always both your own call, or your corporation's call.
The Rights of a Registered Business Name Owner
Business call registration isn't always similar to trademark registration, and does now not include the same rights and powers. If you need to reserve your commercial enterprise name on your personal exceptional use, you ought to apply one after the other for trademark registration, because the searches, programs, and application tactics are absolutely extraordinary from one another. Business name registration does no longer:
Grant you distinct rights over the business call
Stop others from registering a confusingly similar call
Stop every other celebration from the usage of your business call as a trademark
Stop a pre-current trademark holder from the use of your enterprise call (in fact, you may probably be infringing on their rights)
Prevent any other party taking criminal motion in opposition to you in case you infringe on their rights
Choosing Your Business Name
A uniquely identifiable commercial enterprise name, along with the goodwill that includes the call, is an vital asset to have whilst you're managing purchasers, lenders, and competition. It is really worth making an investment time in arising with a smart business call due to the fact this call could in truth upload fee to your enterprise. Your enterprise name is central to each your picture and branding.
Your business name ought to reflect the character of your commercial enterprise. It ought to assist clients understand what types of items and offerings you offer.
Make positive that your enterprise name or logo call is:
Short and candy
Simple to pronounce and spell
Memorable
Timeless
Logical
Inoffensive
Not deceptive
When you're trading internationally, test the appropriateness of your enterprise name in different cultures.
Applying for Registration
Once you have got determined on a name in your enterprise, you should touch ASIC to determine whether your commercial enterprise name continues to be to be had for registration, and to sign up your commercial enterprise call.
The application may be finished on-line. You will need to offer the following facts:
Your Australian Business Number (ABN) or, in the least, an ABN utility reference quantity
Your preferred commercial enterprise call and the time period you need to sign in for, be that either 12 months or 3.
The vicinity or locations of your commercial enterprise
The full names and the addresses of every proprietor
Registering your business name is inexpensive. It will price you approx. $35 to sign in for 12 months, upwards of $seventy six for three years. Once you have got registered, you are required to meet some of legal duties. If you fail to comply with those obligations, you threat being fined or dropping your trade name.
Display your enterprise name or your brand name: It is critical that you show your enterprise call outside of all your business places as long as the enterprise is open to the public.
Additionally, all your correspondence and documents need be monogrammed together with your enterprise call. These documents include letters, invoices, statements, guides, notices, orders, and receipts.
Once your commercial enterprise call is registered, you'll get hold of a document of this. It is suggested that you show this document in your workplace, despite the fact that this isn't always enforced.
Renew your registration: In order to use the identical business name indefinitely, you are required to renew your registration. If you forget about to resume your registration, your enterprise name is removed from the ASIC check in and another celebration can practice to sign up it as their personal. If this happens, you'll be required to cease running underneath that enterprise name.
Update your information: All changes to commercial enterprise ownership need be said to ASIC inside 28 days of occurring, such as the names of proprietors or a trade in deal with. Similarly, if making a decision to exchange your enterprise call or if you find that you have misspelled the name for your software, touch ASIC.
Shutting down your business: If you need to quit trading, you need to send a request to ASIC as a minimum 28 days earlier than you close down your business. ASIC will finally notify all the other humans recorded on your business call's register, in conjunction with the business call holder. This check is carried out to forestall illegal tries to cancel out a business name.
If you propose to close your business, you must send ASIC a request to cancel your enterprise call at least 28 days in advance. ASIC will then notify the commercial enterprise name holder (and some other people recorded in the enterprise names sign in). This prevents unauthorised tries to cancel a business call.
