Company Formation - What You Need to Know Bout Naming
There are a whole lot of things to be taken care of by those who are engaged in the task of company formation in the UK. Starting from the naming of the company to ensuring its safety against possible threats, a number of things are there to be looked after. The concerned authority (in the UK, it is the Companies House) publishes everything clearly in a booklet along with the related form. They also make it available on the Internet. All the rules and regulations to be observed by the prospective businessman are clearly discussed in the booklets available in prints or in web portals. Regarding the naming of the company, Companies House booklet says that the name should not be similar to any existing company. There is provision for checking out the name of the companies already registered with the authority. The second thing one should be aware of regarding the naming of the company is that it should not have any strong resemblance with the name of any other company. If the name of a company is very much similar (though not exact) to another then the owner of that company or companies may use the name unscrupulously and defame it. Even they may cause monitory losses by ordering goods in the company's name and by evading the payment. If you are carrying out the task of company formation, you have to keep these facts in mind. The name of a company should also include the word 'limited' if the company is a private limited one. If the name of the company becomes too long, one can use the abbreviated form of the word 'limited'. So, instead of writing limited, one can write 'ltd' in the name of his company. People engaged in company formation must also bear in mind that the name of the company should be suggestive. It should clearly indicate the kind of commodities or service it is connected with. |
