Things to keep in mind while choosing your company name
A company name should be of quality, set customer expectations, and have credibility that represents what your brand stands for. A name should create an identity that people can associate with organizations. It takes time to choose a unique name that should not relate to any other company or trade mark.
The MCA (Ministry of Corporate Affairs) has a regulatory framework set up that we can consider while naming your company. If your company does not fall under the rules of MCA, then the application can be rejected. If you already have a name in mind, then you search on the MCA database to check the name availability on MCA.
There are some reasons why your company can be rejected.
- Not check trademark: The proposed should not be identical to any existing company name and registered trademark also. For example, Reliance is an existing company name and registered trade mark on the website of trademark search, so MCA will not approve this name if the spelling is different.
- Name should not be identical. For example, Envision Nidhi Limited is already an existing company and trademark, so you cannot incorporate your company with this company. You need to add one unique word by adding envision, and the trademark should not exist with the objective of the company.
- Get Mandatory Regulator Approval: If your company name includes words like “bank,” “stock exchange,” “mutual fund,” “Nidhi” etc., and then you need to get approval from IRDA, RBI, SEBI, and MCA, which is totally dependent upon the word.
- A place no mention on company name: Company should be different from the existing company name in respect of adding the name of the place, for example: Indian Renewable Energy Development Agency delhi Limited is not allowed if the company already exists.
- Do not translate from English to Hindi. For example, Berry Anand will not approve if a company name like Berry Bliss already exists.
- Do not use state
- Do not add common words. For example, New, Modern, shri, shree, Om, Sai, etc.
- Abbreviated names are not allowed, like 123P Limited, ABQ Limited.
- Not offensive word: The proposed should be offensive to any society and not contain any profanity.
While choosing a name
- Choose a name that is relevant to your business, and the name should represent your products and services.
- Once your company is approved, block a domain name.
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