Has your dream business
name ever hit the walls at the Corporate Affairs Commission?
Or maybe you applied through
your lawyer series of times and it seems all the names in the world have been
picked and nothing will ever go through?
These thoughts are not
strange at all because they happen to the best of us; as a matter of practice,
I usually reserve four names at a go for my clients with the hope that at least
one of them will be reserved.
There are no magic to
getting a name approved if you play by the rules.
One of the rules is that
certain name forms will never be reserved because they contain word(s) that are
prohibited.
You can imagine that where
you avoid those words as much as possible, you will stand greater chances of
having your preferred name approved.
What I will do in this article will
be to give you hints on how to structure your business name options in such a
way that they will have greater chances of being approved by the Corporate
Affairs Commission; the hints are not an absolute guarantee, but they
definitely will increase the chances of the names that you may have come up
with.
If you are not yet with
your pen, you might just be late because am all set.
HINT
NO 1:
Beware
of Prohibited Names
If you have ever visited a
site containing inflammable substances, one of the signposts that you might see
is the “No Smoking” sign.
This is also applicable
when trying to reserve a name at the Corporate Affairs Commission; certain name
formats will just not go through because they are absolutely not allowed.
Unfortunately, the
Corporate Affairs Commission does not have an exhaustive list of prohibited
names but the hints given by the Commission are that your preferred names
should not be such as is capable of misleading [the public] as to the nature
and extent of your business’s activities, or such that is undesirable,
offensive or contrary to public policy.
HINT
2:
Overcome
the Hurdles of Restricted Names
Certain names are
restricted for some
reasons particularly where a similar name had been registered earlier by the
Commission. In that case, it does not mean that the name cannot be reserved for
your use at all; it only means that you will have to do more to get the name
reserved.
Your preferred name could
be restricted for any of the following reasons, and if restricted, you can still
get it reserved if you fulfill the suggestions after each of the point I have
identified below:
- Where it is identical with or similar to the name of a company that is already registered with the Commission. Suggestion: If the registered company is in the process of being dissolved, you may obtain a letter of consent from the company to use the name.
- Where it is identical with or similar to any existing trademark,or registered business/company name. Suggestion: If you are able to obtain a written consent from the owner of the existing trademark,or business/company name, the Commission may consider your application.
- Where it contradicts or will violate any incorporated trustee. Suggestion: If you are able to obtain the written consent of the trustees, your application might be considered by the Commission.
- Where it contains the words “Chamber of Commerce”. Suggestion: If what you seek to register is a Company Limited by Guarantee, the Commission will consider your application.
Hint
3:
Seek
the Consent of the Commission First if Your Preferred NameContains Any of the Following
Words:
- Federal
- National
- Regional
- State Government
- Municipal
- Chartered
- Co-operative
- Building society
- Group
- Holding
- Any word that is suggestive of a temporary business arrangement. E.g. consortium
- Any word that is suggestive of the patronage of [a] Federal or State Government, Ministry or Department.
- Any word that is suggestive of connection with any municipality or other local authority.
Hint
4:
Where
Your Preferred Name Is Already In Existence, Reconstruct It By Introducing
Symbols, Punctuation, Characters, Signs, And Roman Numerals.
This step is simple and
very creative. As a matter of fact, this style is trending among many 21st
century businesses. Below are examples:
Elev8
77dot Technology
Nine-27th
Imagine Design
Perfect IV-niture
The practice of introducing
symbols, punctuation, characters, signs, and roman numerals to differentiate a
proposed name from a name that is already registered is also recognized in the
United Kingdom by virtue of The Company and Business Names (Miscellaneous
Provisions) Regulations 2009.
Care must however be taken
to ensure that the proposed name is distinct from the registered name as the
owner of the latter name may approach the court in an action for Tort of Passing off, or apply to the Corporate
Affairs Commission through its complaints procedure.
Hint
5:
Let
Your Preferred Name Speak Volume of the Nature of Your Business
This
hint may be better looked at as an advice than a hint.
One of your best options is to create a name that is self expressive of your business so that if that name is on your complementary card without more and
that card is given to a potential client, it will be expressive of
what your business is all about.
In
our ever busy business climate, it is not every potential customer that you
meet that you will be able to narrate all that you do to, so let your name also
do the speaking.
Hint
6:
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