Naming Your Company
The name of your company or brand defines the identity of your company and not just your business operations. Performing a company name check has got to be by far one of the most important steps for the company incorporation procedure. Deciding upon a fixed unique name which defines your brand aptly is one of the great marketing tools you can use to sell your products and service. For eg., Google is now a common household even though it’s the name of a company. We never say search it on the internet, we say “Google It!”. That’s what having a great name can do for your company.
Company Name Check
A good name for a company should try to have a global outreach and appeal but it should do so without hurting the sentiments of any race, nationality or gender identities and sensitive political or social issues. The best and most famous company names over the years have been ones which have been short and simple, as well as, easy to pronounce. Along with being simple, the name for the company should be unique and creative enough to stand out from the crowd.
In order to avoid infringements and clashes in the company name, it is advisable to perform a company name check or a company name search. You can go ahead and use LegalRaasta’s FREE Company Name Check Tool. This is crucial for a company/startup in its initial stages because many other companies have done the Trademark registration procedures on their company name and you should avoid the Various Types of Trademark Infringement.
Criteria for Naming a Company
To do a company name check or check for company name availability in India there are a few criteria that have to be met in order to successfully file your company’s name. These are as follows:
The proposed name for your company will not be accepted if it bears a resemblance to an already existing company name. Many of these exclusivity criteria are subjective, which means it depends upon the opinion of the officer handling the application. Similar sounding names, for example, Flipcart (sounding like the famous online Aggregator Flipkart) might not be approved.
- Blacklist/ Constitutional Entities
Generally speaking, abbreviations, adjectives as well as generic words will probably get rejected for the name of the company. Words like the bank, Exchange and Stock Exchange would also probably not be accepted unless RBI or SEBI approves the same.
- Descriptive Component
Many times the company add a descriptive feature to the company name so the business objectives of the firm are clear from the get-go. For eg. Biocon Research Private Limited. The word ‘research’ defines what is the Business that the company is into.
The company name proposed should not be in association with governments of another country. The name can also not be in association with a national hero, highly esteemed individual or a person with a position in a government office or their patronage.
- Authorized Capital
Companies are allowed to include certain phrases like Hindustan, International, Bharat, Globe depending upon the authorized capital of the company. These phrases can be included in the name of the company if the authorized capital of the company exceeds Rs. 5 lakh.
What to do after Company Name Check
Once, you have successfully done company name search, and you found that your proposed company name is not clashing with any of the existing company names, it is time to file for name incorporation.
In India, there are many ways you can file for name approval.
For Private Limited Company Registration, You can file for name approval via the RUN (Reserve Unique Name) e-Form or you can also incorporate Private Limited Company via the renewed SPICe forms from MCA guaranteeing One-Day Company Incorporation.
For LLP Registration, In order to file for name approval, LLPs have to fill up the RUN-LLP form. and file for incorporation via the FiLiP forms. You can read more about it
In India, the Ministry of Corporate Affairs (MCA) looks over the filing for the name of a company. The filing for Name Approval has to be done either through the MCA or through the Registrar of Companies (ROC).
If you still have to file for name approval and have to company registration, Consider taking help of the experts at LegalRaasta, where we strive to simplify your legal journey. Call +91-8750008585 to get started with economical company incorporation packages.