Starting a new business can be an exciting and overwhelming experience. There are several things to consider, including selecting a suitable name for the business. In Australia, businesses are required to register their business names before commencing operations. Registering a business name is a crucial aspect of establishing a new business, as it helps to protect the business and its brand. This Legal Kitz guide outlines the steps involved in checking for business name availability and the steps to register a name in Australia.
What is a business name?
A business name is a name that a person or entity trades under. It can be a name that is unique to a business or a name that is used by multiple businesses. It is also different from a company name or a trademark. A company name is the name of a registered company, while a trademark is a legal symbol that identifies a brand. Business names can be registered with the Australian Securities and Investments Commission (ASIC) and must comply with Australian law.
Do I have to register a business name in Australia?
If you are operating a business in Australia, you are required by law to register your business name with ASIC, unless you are operating under your own personal name. For example, if John Smith is running a business called “John Smith’s Plumbing,” he would need to register that name with ASIC. However, if John Smith is running a business under his own name, such as “John Smith Plumbing Services,” he would not need to register this name.
How do I choose and check my business name?
Choosing a business name can be an exciting part of starting a business, but it’s important to choose a name that is not already taken and complies with Australian law. Here are some steps you can take to choose and check your the name for your business:
Brainstorm and research
Start by brainstorming potential names and researching them online to see if they are already in use. You can use online search engines and social media platforms to research these potential names. Make sure the name is not too similar to an existing business name.
Consider your target market
Your business name should be memorable and appeal to your target market. Think about the type of customers you want to attract and what type of name would appeal to them.
Think about the future
Your business name should be flexible enough to accommodate changes in your business over time. For example, if you plan to expand your business into new areas, your business name should not limit your ability to do so.
Check for trademarks
It’s important to check if your name is already registered as a trademark. You can use the IP Australia TM Check Tool to search for trademarks that may conflict with your chosen name.
Check for domain name availability
You should also check if the domain name for your business is available. You can use online domain name registration services to check domain name availability.
How do I register my business name?
Once you have chosen your name and checked that it is available, you can register it with ASIC. Here are the steps to follow:
- Create an ASIC Connect account: Before you can register the name for your business, you will need to create an ASIC Connect account. This account will allow you to manage the registration for your business name and make any necessary updates.
- Log in to ASIC Connect: Once you have created an ASIC Connect account, you can log in and start the registration process for your business’s name.
- Choose your business structure: You will need to select the type of business structure you have, such as a sole trader or company.
- Check your eligibility: You will need to check that you are eligible to register a business name. This may involve providing details about your business, such as your Australian Business Number (ABN).
- Choose your business name: Enter your chosen name and check that it is available using the ASIC availability search. You can also choose to register a name for your business with a different ending, such as Pty Ltd or Incorporated.
- Pay the registration fee: You will need to pay a fee to register your business name. The fee will depend on the length of time you want to register your business name for.
- Submit your application: Once you have completed all the necessary steps, you can submit the application for your name registration. You will receive confirmation once your application has been processed.
Conclusion
Registering a business name is a crucial step in setting up a business in Australia. It is essential to check the availability of the chosen name, choose the legal structure of the business, and register the business name with ASIC. By following the above steps, you can register your business’s name and start your business operations in compliance with Australian laws and regulations.
Legal advice
If you require further assistance or advice, you can always contact Legal Kitz to assist you. To request a FREE 30 minute consultation with one of our highly experienced solicitors contact us at [email protected] or 1300 988 954. Additionally, you can also check out our sister company – Business Kitz’s Subscriptions to access our full range of legal, commercial and employment document templates to ensure that your business is structured appropriately and meets all legal and regulatory requirements.