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Essential Steps In Choosing A Business Name Before Registering A New Company

For many Australians, starting and registering a new company can be a complex process and an overwhelming experience. You will need to comply with a multitude of legalities that can have you in a tail spin.

From choosing a unique business name to choosing the right business structure for your purposes, having a professional hand to guide you can prove immeasurably valuable. At Companies Now we have the experience and expertise to streamline this process and take the hassle out of business registrations.

Need help in deciding on the best name to represent your business dream? Make sure you follow these essential steps first.

Getting your company name right is one of the first weighty decisions you will make. You may have an arm length long list of possible names already so how do you choose the most appropriate one? Business names should ultimately meet the following requirements:

  • Be original and professional (some research is needed here)
  • Be easily pronounceable and memorable (the shorter, the better)
  • Describe the nature or function of your business

The first thing you need to remember not to do is choose the first one that appeals to you and register the company with it.  Not without conducting proper research first. This will save you from any unnecessary legal trouble should another business be already registered with it.

Narrow down your choices to a handful of your favourite names and search the Australian Securities and Investments Commission (ASIC) database to find out if these names have already been used. Other essential steps include:

  • Go through the IP Australia (Intellectual Property) register to find out if your names are registered trademarks.
  • If you’re intending on establishing a business website also check whether a domain name is available for your company name (include foreign countries if you’re going to do business there as well).
  • Have your chosen name registered with both the ASIC and IP Australia.
  • Have at least two back-up names just in case.

Give yourself and your new business venture the best start for success by choosing the best name for your company. Need more information or expert advice? Contact us at Companies Now, we have trained professionals to guide you through this process.