Company name and acceptable company name are the two different criteria needed to be known to a person while incorporating a company. Company Act, 2013 has all rules and regulation regarding companys name.
What is an Acceptable Name
Under to the law an acceptable name of a Company has three main parts, name, object and constitution. Here is the illustration of the three parts company name.
Companies act, 2013 defines how name of the company is unique or acceptable. Company name should not similar or same as that of existing company. Suppose a Company name is ZZZ Solutions private limited so any cannot have same or similar company name. But can be taken for different industry name like ZZZ Consultant private limited etc. Hence, Person need to be carefully choose company name.
There are different forms of company that can be incorporated (Private Limited Company, One Person Company, Limited Company) according to the state and nature of business of the entity. Object mainly defines the activity of the company. Here are some illustrations of objects. In case company has similar name and object is different proposed name of the company. Company can be same object and different name and same name but need to have different object.
This part defines mainly defines what type of entity name represents. Whether the company name is Private Limited Companies are represented by
- Private Limited Company or Private Limited or Pvt. Ltd Company.
- Limited Companies are represented by LTD Company or Limited or Limited Company.
- One Person Companies are represented by OPC or One Person Company.
Some more measure for company name
According to the modern times and technology companies Act, 2013 lays down certain guidelines when it comes to naming a company.
- Name will not acceptable if name is the Plural Version
- Company name cannot type in addition with case of letters or the spacing between letters and punctuation marks of an existing name and make it unique.
- Use of different phonetic spellings or spelling variations does not make a name unique.
- Also, Company name ZZZ solutions private limited then ZZz solutions private limited will not be acceptable. Features like Z Z Z or ZZZ do not differ both means the same.
- Company name should not have internet-related designations such as .com, .net, .edu, .gov, .org, .in to make the name unique.
How to search Company name
- First you need to Visit the website of Ministry of corporate affairs.
- Enter the proposed company in the section Company and click search.
- The search will show the company present in the database of the MCA
- If search shows No records found, then there are no similar companies with similar name.