Content Outline
What is a business name?
A business name is just a name or title being used under which an individual, or some other legal entity, carries on his or her trade. Apart from identifying you to your customers, it enables you differentiate yourself from your competitors and allows your customers to connect with you on an emotional level with regard to how they perceive both the business and brand. The name is often the most valuable asset for many businesses.
In case you decide to run your business as a sole trader, partnership or trust and not the form of a company then registering the name of your business should take place with Australian Securities and Investments Commission ASIC. You do not need to register your business name if this is your first and surname, or your partner’s.
In registering a business name, you are not getting any exclusive rights over the use of that name—only the trade mark can give you this kind of protection. Make sure that your name is the only one available to you both now and in future across Australia by registering it as a trade mark. We can register it if needed.
Before you register a business name
When do I need to register a business name?
Generally, you should be registering a business name with us if you are engaged in any business or trade activity within Australia and your name is not that of the entity undertaking such operation.
You do not need to register a business name if the entity is, for example:
- a person and the business name is the name of a person (their first name and surname)
- a registered company and the business name is the name of the company,
- a partnership and the name of the company consists of all names of the partners.
If you would like to benefit from the above exemptions, no changes in the name of business holder are allowed. For instance, if your name is Adam Johnson and the name of your business is ‘Adam Johnson & Co’, you will have to register the business name “Adam Johnson & Co”.
If in doubt as to whether you are required to register a business name or if you are carrying on a business or trading within Australia then contact us for further assistance.
The name of your business does not grant you a trademark on the name.
Sometimes it is very difficult to tell the difference between business names, trade marks, company names or domain names. Those who hold business names often tend to believe that the act of registering a business name is enough for protecting a brand or trading name – when in true sense, the existing laws for business names do not provide such form of protection.
Trade marks, or intellectual property in a name has not been altered by the new business names laws. Now, take note that just because you register your business name does not mean you own the name of your business. Registering one particular name does not prevent another person from registering a similar name nor provides you the exclusive right to use that name or part of it. Also, getting a business name registered will not stop somebody from registering the same name they have used as a trade mark. This is a vital point, and one that every business owner should remember. A legal obligation of registering a business name is entirely separate from steps that the business owners may take to protect any intellectual property rights in a name or a brand, such as trade mark registration.
Generally, you should register a business name if while carrying on business in Australia and you do not trade under your entity’s name.
Business Registration Service
The Australian Government Business Registration Service consolidates several business and tax registrations in one location making business start-ups that much easier. You may apply for an Australian Business Number (ABN) and register your business name on-line.
Registration of a business name through other means
ASIC Connect – you already have an ABN and would like to apply for a business name directly with us by using our platform called ASIC Connect.
Private service provider – You might decide to register or renew the business name with a PSP. It may be your accountant, your lawyer, another business that performs online services with ASIC. They will normally charge a premium on their services over what the ASIC would charge.
Steps to register your business name
The Australian Government’s Business Registration Service can be utilized to register a business name. A single point for many business and tax registrations is another thing BRS does making it even easier to start a business.
How to register a business name using ASIC Connect
You can register your business name directly with ASIC by making use of ASIC Connect.
Step 1 – Visit ASIC Connect
Licences and registrations are located under the detailed tab at the top of the page. If you do not already have an ASIC Connect account, you can register online. If it’s your first time logging in, then you should say ‘No’, that you do not currently run an active business. You don’t need an ASIC key while registering.
Step 2 – Click ‘Business name’ from the dropdown menu
Choose ‘ business name’ from the drop-down menu and click ‘Go’. Read the information and ensure you check this boxes. Select ‘Get started’.
Step 3 – Enter your Australian Business Number (ABN)
A business name must be registered along with an Australian Business Number ABN or applied for an ABN. Choose the appropriate one, type in your ABN and click ‘Next’. You should provide your ABN without spaces.
Step 4 – Type out the proposed business name
Type the name of the proposed business exactly how you want it to appear on our register. Business names are case-sensitive.
Step 5 – Select the registration period
A business can be registered for one year or three years. After this duedate, it needs to be renewed.
Step 6 – Enter the business name holder’s details
Provide the holder details for proposed business name (for instance, the date of birth of a person entering it as holder). The details that you must submit when registering a business name depend on who is the holder the business.
Step 7 – Enter the proposed business name’s addresses
Key in the addresses for the proposed business name.
Step 8 – Confirm the eligibility to hold the business name
For registration of business name, the holder must fit into the requisite relevancy that he is not a disqualified or convicted offender according to Business Names Registration Act 2011.
Step 9 – Review your application
Please make sure that you spell your business name correctly in your application. In addition, please fill in all the required statements and confirm your authorization to file the application.
Step 10 – Make payment and confirm your transaction
You can pay by credit card, BPAY or request an invoice. If you do not pay within 10 days, your application will be cancelled and you have to reapply.
Once you pay, a confirmation page will appear. Your business name should be registered within 48 hours after payment has been made.
What to do if you have not received your record of registration or invoice
As soon as your name for the business gets registered, you shall be provided with registration certificate.
If you decide to pay for your business name registration by invoice, the email will send to you via email in 48 hours and you must make payment within 10 days.
Once I’ve registered, what do I need to do?
Once the registration of the business name is done, you will receive a copy of your record of registration through an email. You can then start doing business using the registered business name.
You are required to update your details if any changes in your details occur. For instance, if you have relocated to a new address.
You must have your business name displayed prominently such as at the store entrance. You must also ensure that your business correspondence like invoices or purchase orders shows the name of your registered business and ABN.
Renewing your business name
If you have registered your business name, then you will need to renew it annually or every three years through ASIC. 30 days before the renewal date, they’ll send a renewal notice. As soon as you get it, you may renew online via ASIC Connect or apply for our help.
Registered trademarks
To protect your trade name and the right of use, it’s suggested that you register a trademark. This type of intellectual property protection helps you protect your brand, goods or services from infringement.
Every business should focus on protecting its brand. Protecting it necessitates registering trademarks on your business name and logo. We serve businesses of all sizes on pre-negotiated fees for trademark registrations. We streamline the entire process for you with the assistance of our expert trademark consultants. We are operating nationwide throughout Australia, catering not only to clients from Sydney and Melbourne but also beyond. Feel free to get in touch if you have any questions.
This will help you:
- protect your name and stop others from trading with it
- get exclusive use of that trademark throughout Australia
- have protection in all Australian states and territories for an initial period of 10 years, with unlimited renewals provided eligibility requirements are met.
Visit the IP Australia website to:
- learn more about trademarks
- use their free TM Checker tool to complete an initial check on the availability of your trademark.
The benefits of registered trademark:
- Protect your brand name and prevent others from doing business with it
- Get the exclusive and rights to use of that trademark in Australia.
- Protection in all Australian states and territories for 10 years to start with unlimited renewals, provided the eligibility requirements are maintained.
How FastLane Group can help you?
ABN is required first before registering your business name. Alternatively, you can apply directly through www.abr.gov.au yourself
At FastLane Group, we provide full support to facilitate the setting up of your business including applying for your ABN on your behalf. Our dedicated team ensures a no-fuss ABN application, ensuring you spend less time and effort. If you are ready to start your business by registering an ABN or if you have questions, contact us now.