Company name registration is an important part of running your business; online business classes can help you learn other policies with which you must comply. Before arranging to register a company name, it should be clearly determined what type of entity in which it will be operating. Among the types of companies are limited liability companies, unlimited liability companies, private companies and public companies. A legal or professional advisor is able to assist in explaining the differences among these, making it a smoother process in deciding which of these will be suitable for the new company.
The selection process of a company name is a critical one when considering company name registration. Oftentimes the first point of contact between the business and its customers is its name. A good company name will reflect the nature of the business. In addition, the legal requirement of having a unique name must be met before the company can be registered. Pay keen attention to governing rules and regulations.
If the chosen company name already exists, the entire company application will be rejected and another name will have to be considered. Conducting a company name search prior to submitting the application will minimize the chances of this happening. The searches will reveal whether the name is already being used by another business or if it is available to be registered. The availability of a company name however does not guarantee that the company may be registered under that name. Company names can be rejected for a number of reasons including, not having the word 'limited' if it is a limited liability company or containing words considered to be offensive. There are also words that are 'sensitive' such as those suggesting the company is connected to the government or any other organization. In the event the new company contains these words additional supporting documents will be required as well as approval by the secretary of state.
All corresponding forms should be properly completed indicating the liability of each member. As mentioned above it should be clearly defined what type of business the company will be operating as, and this information entered accordingly. Entering wrong information will be costly and time consuming.
Once a company name has been finalized and all supporting documents are in place, the application should be submitted (along with all applicable fees) to the Registrar of Companies in the relevant country. The new company name will be registered and a certificate of incorporation issued when all requirements have been met. This finalizes the registration process of the new company.
To learn other regulations which you must follow when operating a foreign company, consider taking some online courses in international business law.