General Questions Asked Related to Incorporation:
1. Name Rules for Corporation
The rules for naming a corporation depend on the jurisdiction in which the corporation is registered. However, there are general principles and specific legal requirements that most jurisdictions follow. Below is an overview:
Uniqueness:
- The name must be unique and distinguishable from existing corporation names in the jurisdiction.
- A name that is too similar to an existing business name may be rejected.
Legal Designation:
This indicates that the entity is a corporation.
The name must include a legal identifier such as:
“Corporation” (Corp.) , “Incorporated” (Inc.), “Limited” (Ltd.)
A good corporate name is both descriptive of the business (e.g., “Tech Solutions”) and distinctive enough to avoid confusion
Tips for Choosing a Name:
Choose a name that reflects your business purpose.
Conduct a preliminary name search to ensure availability.
Consider domain name availability if planning an online presence.
Verify compliance with local laws and regulations.
2. Name Rules for Trade Name / Sole Proprietorship / Partnership
The rules for naming a trade name, sole proprietorship, or partnership vary by jurisdiction but generally have fewer restrictions compared to corporate names. Below are the common rules and considerations for these types of businesses:
General Rules for Naming a Trade Name / Sole Proprietorship / Partnership
1. Uniqueness:
- Trade Name: The name does not necessarily have to be unique in some jurisdictions but should avoid confusion with existing businesses.
- For sole proprietorships and partnerships, it’s recommended to choose a distinct name to build a recognizable brand.
2. Prohibited and Restricted Terms:
Names cannot include terms that are:
Offensive or inappropriate.
Misleading about the nature of the business (e.g., “Inc.” or “Ltd.” when not incorporated).
Unlike corporations, you do not need to include designations like “Inc.” or “Ltd.”