Everything you need to know about a business name.

Everything you need to know about a business name.
Everything you need to know about a business name.

1 April, 2017

Tips-for-Choosing-a-Good-Business-Name

 

Heligande corporate Service offers a professional service of assisting individuals with the choice of right business name, getting the business registered and providing a company seal for a business transaction”.

BUSINESS NAME

A business name can be referred to as the name under which any business is carried on, whether in a partnership or otherwise.

A business name can be owned by an individual, a partnership of two or more people or otherwise or one or more companies or cooperation, that carry on any business or trade, industry or profession with the purpose of making a profit.

The business name or trade name may be the actual name of a proprietor or an assumed name under which business operates and presents itself to the public. The owners of the business can or group of partners can use their actual names to operate their business, which they are required to register under Part B of CAMA Section 573(1).

EFFECTS OF FAILURE TO REGISTER A BUSINESS NAME

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Failure to register a business name under the provision of Part B CAMA would render any contract entered into with that name invalid.

Prohibited and Restricted Names.

Certain names are prohibited; the registrar may, however, refuse to enter a business name or cancel registration if he is of the view that the name is likely to mislead the public or is calculated to deceive.

A name could be rejected by the registrar if it appears to mislead in that it:-

  1. Contains the word National, Government, Municipal, State, Federal or any other word which suggests the business enjoys the federal, state or local Government patronage.
  2. Contains the word Chamber of commerce, Building, society, Guarantee, Trustee, Investment, Bank, Insurance or any word of similar connotation
  3. Contains the word cooperative or its equivalent in any other language or any abbreviation thereof; or
  4. Is identical with or similar to a business name by which a firm, company or individual is already registered or any company is registered under CAMA or
  5. Is Similar to any trademark registered in Nigeria
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The registrar may also reject a name if in his opinion; it’s likely to mislead the public as to the nationality, race or religion of the major owners or controller of the business or its deceptive or objectionable in that it refers directly or indirectly to any personage, practice or is unsuitable as a business name.

But an aggrieved person may appeal to the CAC within one month of the Registrar’s refusal.

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