How to change the Company Name?

Last Updated at: February 20, 2020
352
How to change the Company Name_

Depending on where you’re moving, you may need to simply pass a resolution or place an advertisement in a publication about the change in the company name, after updating it with the registrar of companies.

How To Change A Company Name?

Changing the name of a company cannot go on without complying with the requirements of choosing a company name set by the Registrar of Companies.

Changing A Company Name

Getting a company’s name changed by the Registrar of Companies (RoC) is no small matter! Executing a company name search will help you select an appropriate name. The same rules and laws apply to change a person’s name, as well. The procedure to change the company name is well-defined and is to be followed strictly. Hence, it is essential to follow all the requirements of the registrar of companies in India.

Benefits To Changing Company Name

1. When You Can’t Get A Copyright:

Acquiring copyright and trademark is essential to the success of a business as it forms part of its branding and marketing strategy. However, if the current name of the company cannot get copyright it will affect revenue streams and future earning potential. For new names, check company name availability, before you decide to change the company name.

2. Memorable Business Name:

From a marketing and a business standpoint, memorability is everything when it comes to the name of the company. So when registering the name of the company with the registrar of companies, make sure you choose a name that is easy to remember, and also the one that is available as per a company name check.

3. Repositioning:

To change company name or a brand’s name, especially when your business is ready to move into a new market helps with the concept of repositioning. This is done to focus on one particular product or niche that is doing better than others, or when entering a new market.

4. Specific product or service

This occurs when a business gains popularity for one particular product or service. For that reason, a business or a brand can be renamed to capitalize on their popularity and generate more demand, or sales.

5. Location Friendly Name:

When it comes to deciding on how to change company name, one effortless way to move forward is to consider the location. If your business is moving to a location then it would be prudent to rename your business to something that is more friendly and acceptable with the location of the business.

6. Change Of Ownership:

When a business passes ownership, it is only natural for the new owner to check company name availability, and change company name. For this purpose, the owner will approach the registrar of companies India to change his/her company name.

Checklist For Updating Company Name, After Company Name Change

  • Updating your social media accounts
  • Update Email footers
  • Name change on stationery – letterheads, business cards, etc.
  • Website changes
  • Informing customers and suppliers
  • Voicemails, messages on answering machines 
  • Company registers and Articles of Association
  • Update your computer systems
  • Employment Contracts
  • Update business licenses or permits
  • Supplier Contracts

How To Execute A Company Name Search

One of the most important steps before registering a company name with the registrar of companies is to ensure to check company name availability.

To check company name availability you can click the following link https://vakilsearch.com/company-name-search, and it will check that particular name in India against the MCA and trademark database.

It is advised to shortlist four to five business names before checking availability, in the event some of those names are already taken or in use. When registering your company with the registrar of companies, the Ministry of Corporate Affairs will authorize the name to be used based on existing rules and regulations. 

A company name need not necessarily be the brand name as well. You can ensure a brand name hasn’t been trademarked by visiting the link at http://www.ipindia.gov.in/

In the event, a brand has already been trademarked, you will need a NOC certificate from the owner of the brand name.

Documents Required For Company Name Change

When a company decides to change its name, a resolution is passed among the board of directors/members of the company. After which, the following two documents are filed with the registrar of companies;

  1. MGT-14:

This e-form is filed with the registrar of companies on the Ministry of Corporate Affairs portal, thirty days after filing the resolution to change the company name. Along with the MGT-14 form, the following forms have to be attached as well.

  • Notice of Extraordinary general meeting (EGM).
  • Copy of special resolution passed in the EGM.
  • Copy of altered Memorandum of Association and Article of Association, with the new company name.
  1. INC-24

After the MGT-14 is approved, the INC-24 e-form is filed within a period of 30 days with the registrar of companies on the Ministry of Corporate Affairs portal. Along with the INC-24 form, the following forms have to be attached as well.

  • Extract of the Minutes of the Extraordinary general meeting of the company 
  • Notice of EGM
  • Copy of resolution agreement
  • Copy of altered MOA and AOA, with the new company name.

Vakilsearch’s Procedure for Changing Company Name

Selecting A New Name

The company board needs to pass a resolution selecting the new name of the company. Moreover, this new name must align with the rules and guidelines provided by the Registrar of Companies.

Documents For Approval

Submit documents needed to approve the new name with the Registrar of Companies (ROC). Once the ROC approves, the company can switch to the new name.

 

 

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How to change the Company Name?

352

Depending on where you’re moving, you may need to simply pass a resolution or place an advertisement in a publication about the change in the company name, after updating it with the registrar of companies.

How To Change A Company Name?

Changing the name of a company cannot go on without complying with the requirements of choosing a company name set by the Registrar of Companies.

Changing A Company Name

Getting a company’s name changed by the Registrar of Companies (RoC) is no small matter! Executing a company name search will help you select an appropriate name. The same rules and laws apply to change a person’s name, as well. The procedure to change the company name is well-defined and is to be followed strictly. Hence, it is essential to follow all the requirements of the registrar of companies in India.

Benefits To Changing Company Name

1. When You Can’t Get A Copyright:

Acquiring copyright and trademark is essential to the success of a business as it forms part of its branding and marketing strategy. However, if the current name of the company cannot get copyright it will affect revenue streams and future earning potential. For new names, check company name availability, before you decide to change the company name.

2. Memorable Business Name:

From a marketing and a business standpoint, memorability is everything when it comes to the name of the company. So when registering the name of the company with the registrar of companies, make sure you choose a name that is easy to remember, and also the one that is available as per a company name check.

3. Repositioning:

To change company name or a brand’s name, especially when your business is ready to move into a new market helps with the concept of repositioning. This is done to focus on one particular product or niche that is doing better than others, or when entering a new market.

4. Specific product or service

This occurs when a business gains popularity for one particular product or service. For that reason, a business or a brand can be renamed to capitalize on their popularity and generate more demand, or sales.

5. Location Friendly Name:

When it comes to deciding on how to change company name, one effortless way to move forward is to consider the location. If your business is moving to a location then it would be prudent to rename your business to something that is more friendly and acceptable with the location of the business.

6. Change Of Ownership:

When a business passes ownership, it is only natural for the new owner to check company name availability, and change company name. For this purpose, the owner will approach the registrar of companies India to change his/her company name.

Checklist For Updating Company Name, After Company Name Change

  • Updating your social media accounts
  • Update Email footers
  • Name change on stationery – letterheads, business cards, etc.
  • Website changes
  • Informing customers and suppliers
  • Voicemails, messages on answering machines 
  • Company registers and Articles of Association
  • Update your computer systems
  • Employment Contracts
  • Update business licenses or permits
  • Supplier Contracts

How To Execute A Company Name Search

One of the most important steps before registering a company name with the registrar of companies is to ensure to check company name availability.

To check company name availability you can click the following link https://vakilsearch.com/company-name-search, and it will check that particular name in India against the MCA and trademark database.

It is advised to shortlist four to five business names before checking availability, in the event some of those names are already taken or in use. When registering your company with the registrar of companies, the Ministry of Corporate Affairs will authorize the name to be used based on existing rules and regulations. 

A company name need not necessarily be the brand name as well. You can ensure a brand name hasn’t been trademarked by visiting the link at http://www.ipindia.gov.in/

In the event, a brand has already been trademarked, you will need a NOC certificate from the owner of the brand name.

Documents Required For Company Name Change

When a company decides to change its name, a resolution is passed among the board of directors/members of the company. After which, the following two documents are filed with the registrar of companies;

  1. MGT-14:

This e-form is filed with the registrar of companies on the Ministry of Corporate Affairs portal, thirty days after filing the resolution to change the company name. Along with the MGT-14 form, the following forms have to be attached as well.

  • Notice of Extraordinary general meeting (EGM).
  • Copy of special resolution passed in the EGM.
  • Copy of altered Memorandum of Association and Article of Association, with the new company name.
  1. INC-24

After the MGT-14 is approved, the INC-24 e-form is filed within a period of 30 days with the registrar of companies on the Ministry of Corporate Affairs portal. Along with the INC-24 form, the following forms have to be attached as well.

  • Extract of the Minutes of the Extraordinary general meeting of the company 
  • Notice of EGM
  • Copy of resolution agreement
  • Copy of altered MOA and AOA, with the new company name.

Vakilsearch’s Procedure for Changing Company Name

Selecting A New Name

The company board needs to pass a resolution selecting the new name of the company. Moreover, this new name must align with the rules and guidelines provided by the Registrar of Companies.

Documents For Approval

Submit documents needed to approve the new name with the Registrar of Companies (ROC). Once the ROC approves, the company can switch to the new name.

 

 

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Senior Executive - Content in Vakilsearch | Former TEDxSKCET Licensee | Content Marketing | Psychology | Engineering (IT) | Google Developers Group (GDG) co-organizer | WTM Ambassador