The new federal regulatory and compliance business names system replaces the current State and Territory registers, frequently regarded by Australian business owners because unnecessary red-tape and duplication. Existing business names will be moved to a new nationwide register managed by ASIC, effectively streamlining the older business name registration procedure.
But when companies trade under a name that differs by their company name, trade utilizing various business names, or as a breach of a trust, then every business name must be registered.
There is not any need to register a business name when it includes a individual’s own or their partners’ first name or surname.
It’s a frequent misconception that registering a business name or integrating a company with a certain name confers exclusive rights within the ownership and use of the name. However, only a registered trademark gives business owners that sort of protection. Registration of a business name simply prevents other traders from registering a comparable or equivalent trading name.
Registering a business name that infringes other traders’ rights can contribute to legal actions. Oklahoma Secretary of State entity search The most common kinds of legal actions would be for misleading and deceptive behaviour, passing , or trademark infringement.
Legal action might bring about a trader being required to re-brand or pay damages to the aggrieved party. To minimise the danger of infringing any existing legal rights concerning a proposed business name, applicants are encouraged to search IP Australia’s ATMOSS trademark database – especially, through the business name registration procedure applicants are required to undertake to ASIC their proposed business name does not infringe the pre-existing rights of other dealers in a relevant market.
Traders can ensure they possess the exclusive right to use their business name throughout Australia by submitting an application for a registered trademark under the Trade Marks Act 1995. You will discover more about the benefits of trademarks registration here.
It is worth noting that not all of business names are capable of being registered as trademarks – all trademarks (such as business names) must first satisfy the needs of the Trade Marks Act 1995 before they may be registered.
If you are a new or existing business operator and require exclusive use of your business name we advise that you ought to apply for trademark registration. Stone Lawyers can help you in that process.