To determine whether or not a particular business name is available, you may use the Company Name Checker Tool provided by LegalTaxPert.
To determine whether or not a specific name is available by a company, one might utilize the program “Check Company Name Availability."
The Ministry of Corporate is the only body with the authority to approve or disapprove an application for a business name.
The Companies Act of 2013 mandates that before granting clearance, the Ministry of Corporate Affairs must first determine whether or not the proposed company name is confusingly similar to an existing business name or trademark.
When registering a corporation, it is best to choose a distinct and straightforward name. People have an easier time remembering primary names different from one another. One of the marketing methods is selecting a fitting name for the product.
When deciding on a name for your corporation or limited liability partnership (LLP), be sure to keep the following recommendations in mind:
1. Identical or Similar
It is not permissible for the new business or trademark to have a name identical to the old one. It won't work if you try to make it unique by using a different version, connecting or splitting the words, using different tenses or spelling, adding or removing titles, or making other little changes to the name. The name shall remain unchanged following the trademark. You are going to need to come up with an entirely new character.
It is against the law for you to suggest a business name that is the same as a trademark already registered for that name unless you have the permission of the owner of the registered company or the applicants for the brand to maintain the same name in a different state. The legislation governing trademarks does not permit businesses to continue using the same name within the same condition.
It is impossible to incorporate terms indicative of the many sorts of businesses, company constitutions, or legal persons. For instance, words like “Sekhari," “trust," “partnership," “society," “HUF," “firm," and “Inc." are not allowed to be incorporated in the distinctive name of the company.
Any prospective business is prohibited from associating the names of national heroes or individuals holding high-ranking positions in the governments of India or other countries.
The name of a business that contains terms such as a bank, stock exchange, venture capital, asset management, mutual fund, firms, or another financial activity has to be confirmed by the Financial Regulatory Bodies such as RBI, SEBI, IRDAI, and others.
6. Capital That Is Authorized
Companies that want to use terms such as “international world," “universal," “Asian," “industries," “Udyog," “Hindustan," “India," “Bharat," “Enterprises," “products," and “business," among many others, are required to have a minimum authorized capital of more than Rs.5 lakh.
When it comes to the selection of a company name, the applicant is required to make use of the online services provided by the Ministry of Corporate Affairs under the heading “Reserve Unique Name." Enter the preferred name to reserve it as the business name. If the Registrar chooses not to approve the title, the applicant will be asked to submit a new RUN form and pay any additional expenses associated with the name approval.
The proposal should be written as “XYC (OPC) Private Limited," if an OPC submits it. It should be written as “XYZ Pvt. Ltd." for a private firm, and for the public, it should be written as “XYZ Limited" for the name on the form.
Capitalization of the Company: The minimum amount of permitted capital for any company should be one lakh rupees. The company's Memorandum of Association shall stipulate the maximum amount of authorized share capital that may be distributed to the company's shareholders. Additionally, the allowed money should be included in the memorandum of association.
You can check the availability of the name by using the tool provided by LegalTaxPert, which is called Check Company Name Availability. Under the Companies Act of 2013, it is the responsibility of the Ministry of Corporate Affairs (MCA) to decide whether or not a proposed company name should be approved.
It is possible to have the same business name in several states because firms are registered at the state level. However, this can result in conflicts with trademarks and other challenges relating to legitimacy.
Non-resident Indians, foreign nationals, and foreign corporations can create a company and invest in India; however, these activities are subject to the Foreign Direct Investment standards established by the Reserve Bank of India (RBI). However, to comply with the regulations governing business formation in India, the company's Board of Directors must always include at least one citizen of India.
You can check to see if the trademark already contains your suggested name by logging into the official website of the trademark. The Office of the Controller General of Patents, Designs, and Trademarks within the Department of Industrial Policy and Promotion of the Ministry of Commerce and Industry administers the official website.
A trademarked name is nationally protected. You cannot use a trademarked company name even if the company does not operate in the same state. You can check the trademark's official website to see if the name is registered.