Expert Advice on Choosing an Effective Company Name in India 2024

Private Limited Company

Expert Advice on Choosing an Effective Company Name in India 2024

Registrationwala

If you are planning to set up a company, we’re pretty sure you’ve shortlisted a few names for it. Now, before you make the final decision for your company’s name, you must ensure that the company name is up for grabs i.e., it must not already be taken by another company. 

Selecting the company name is an important part of the company registration process with the RoC. Suppose, you choose a name for your company which is the same as another company’s name. In such a case, your company registration application might get canceled. Even if the company’s name isn’t the exact same but oddly similar to another company’s trademarked name, you can end up getting sued. Therefore, it is a wise idea to check the company name availability online. As a wise man once said, it’s better to be safe than sorry!

How to Choose a Good Name for Your Company?

We have defined some of the key features of a good company name. Let us look at them one by one.

Company Name must have a Distinctive Identity

The proposed name must not be identical or similar to an existing Company name. The proposed Company name must be unique. The following can not be considered unique and distinctive if the following amendments have been made to a registered company name:

Company Name must not infringe a registered Trademark

The proposed Company name must not infringe the trademark registered for a different Company name or an application for trademark registration.

Corporate Nomenclature of the Company Trade Name

The proposed name for the Company must not include a particular type of constitution, such as the following:

Special Permission for Naming of a Financial Institution

Names like Insurance, Bank, Mutual Fund, etc., or any kind of financial management need approval from regulatory bodies such as RBI, SBI, etc.

Company Name must not imply any connection with Foreign Establishments

The Company's proposed name must not imply an association with a foreign government or organization. This is against the fundamental regulations of the Company Registration Act.

Capital Requirement for Specific Phrasal Registration

The proposed names can include the following words or phrases, depending on on the authorized capital:

Process for Checking Company Name’s Availability

It is pretty easy to check the company name’s availability. You can do it from the comfort of your home. All you have to do is use Registrationwala’s Company Search Tool. This tool is absolutely free of cost! It looks like this:

Registrationwala's company search tool

Check Now

 

The process for checking company name’s availability using Registrationwala’s company search tool is pretty simple. You can find out an existing company’s details by choosing the name (here, type the name you have decided for your company).

 

If a company with the same name already exists in India, it’ll show up in our database. In such a case, you’ll have to choose another company for your company. Using this tool, you can also search a company’s director, trademark or address details.

Importance of Verifying the Availability of Company Name

It is important to verify the company name’s availability for the following reasons: 

No trademark complications

If your company’s name or brand logo is oddly similar to another company’s, you can face legal consequences for trademark infringement. This is regardless of whether the company operates in a different industry or same industry as yours. 

Avoiding Conflicts and Breaches

If you choose an existing company’s name for your company, doing so can result in a legal action being taken against your company for trademark violations.

Reducing the risk of domain hoarding

When an individual registers a domain name that is similar to a well-known brand or business name with the intention of selling it later on for a higher price, this is known as domain hoarding. You can increase the chance to obtain the domain name for your own business and avoid having to pay exorbitant fees to a domain hoarder by verifying the availability of your company name chosen by you.

Conclusion

Before getting your company registered with RoC, make sure that the company name selected by you isn’t already taken by another company. For this, it is wise to use a company name search tool, such as Registrationwala’s company search tool. If the tool shows that a company already exists with the name you’ve decided for your company, you must pick another company name which is unique and not already taken. Doing a company name search is pretty easy but extremely crucial. It can help you to avoid legal conflicts with a company having the same/similar name. 

 

Related post

Subscribe to our newsletter