What Is a Company Name search?
When forming a new company, you must conduct a company name search to ensure that the name you choose is available. Choosing a Business name is an important part of the company formation process for many businesses because many companies keep the same name throughout their existence. Checking the availability of a company name before initiating the formation process reduces the chances that the formation will be rejected by the authorities.
The MCA (Ministry of Corporate Affairs) has established a regulatory framework that you must consider when naming your company. Your application may be rejected if your company name does not comply with the MCA's set of rules. Have you already decided on a name? Check company name in the MCA database for availability of company name.
How to Check name availability for company
To see if a company name is available for use online, follow these steps.
Click ‘Search’ after entering the name of your business. There are three ways to see the information on the screen:
- The first situation is an example of this
If you get less than three results, the message ‘high probability’ will be displayed, which indicates that the government has a high likelihood of approving your company name.
- In the second scenario,
This means that you have a 50% chance of getting your business name approved if the message displayed is of ‘moderate probability.’
- In the third instance,
The message ‘low probability’ will be displayed if there are more than eight results. Your company has a very good chance of being accepted here. If this is the case, you should go with a different name.
Guidelines for Choosing Your Business Name
Identical or SimilarYour chosen name should not be similar to any other existing name, either in spelling or pronunciation. An offence may be committed in the event that such a name is discovered. A company's name should include both a noun and an activity word to reflect the type of business that is being conducted. As a result of the business name search procedure, you can avoid making these kinds of mistakes.
It's expected that the applicant will conduct a trademark search
to make sure that the company's chosen name isn't already trademarked. Duplication is avoided by using this method.
Pick a Name That's RelevantThe following do's and don'ts should be included in a name:
|A word or phrase that provides a sneak peek into what the company does should be included in the description||A name should not be offensive|
|To avoid confusion or offence, a name should be distinctive||Attempts to use the plural form of any existing name will not work|
|The abbreviation PVT LTD should be added to the end of the name in the case of PVT LTD.||Creating a new company by combining two or more names that sound alike can be viewed as a single entity|
|It is not counted as another name if you use a different tense or number.|
Block Your Domain NameYou should block your domain name in order to prevent the creation of a duplicate by an applicant.
Approval by the GovernmentRegulators like the RBI, SEBI, IRDAI, and others may need to approve the name of a company if it includes words like ‘insurance,’ ‘’bank,’ ‘stock exchange,’ ‘venture capital,’ ‘asset management,’ and ‘mutual fund.’
Authorised CapitalIt is recommended that companies with names such as ‘International’, ‘Globe’ or ‘Continental’ have a minimum authorised capital of ₹5 lakhs.
Things to Keep In Mind While Choosing Your Business Name
In India, choosing a company name is an important decision that should not be taken lightly. There are many things to keep in mind while choosing your business, such as the following:
- The company name should be easy to pronounce and spell
- The company name should be reflective of the business's products or services
- The company name should be unique and not easily confused with other businesses
- The company name should be simple and catchy
Keeping these things in mind while choosing your business name will help ensure that you choose a name that is best for your business.
Documents Required For Company Name Search
1. Business Name or Proposed Company Name: You will need to provide the exact business name or the proposed company name that you want to search for.
2. Type of Business Entity: Specify the type of business entity you are searching for, such as a corporation, LLC (Limited Liability Company), partnership, etc.
3. Jurisdiction and Location: Clearly state the jurisdiction (country, state, province, etc.) and the specific location (city, county) where you intend to register or operate the company.
4. Owner/Shareholder Information: If available, provide the names and contact information of the business owners or shareholders associated with the proposed company name.
5. Purpose or Description of Business: Briefly describe the nature of the business or the activities the company will engage in.
6. Trademark Information: If you are concerned about potential trademark conflicts, you might need to provide information about any existing trademarks that are similar to the proposed company name.
7. Registration or Filing Fee: Depending on the jurisdiction, there might be a fee associated with conducting a name search. Make sure to inquire about any applicable fees
8. Registration Authority: Identify the appropriate government agency or authority responsible for handling company name registrations and searches in the chosen jurisdiction.
9. Online Application: Many jurisdictions offer online platforms where you can submit your new company name search request. You might need to create an account on the relevant platform.
10. Additional Information: Depending on the jurisdiction, there might be additional requirements or documents needed. It's advisable to check with the specific registration authority to get a comprehensive list of requirements.
Different types of Company Incorporation
The specific types available can vary depending on the jurisdiction (country) in which you are incorporating. Here are some common types of company incorporation structures:
1. Sole Proprietorship: A sole proprietorship is a business owned and operated by a single individual. It's the simplest form of business structure, and the owner is personally responsible for all aspects of the business, including liabilities.
2. Partnership: A partnership involves two or more individuals or entities who share ownership and responsibilities for the business. Partnerships can be general partnerships (where all partners share equally in profits and liabilities) or limited partnerships (with at least one general partner and one or more limited partners who have limited liability).
3. Limited Liability Company (LLC): An LLC combines the limited liability protection of a corporation with the flexibility and simplicity of a partnership. Owners are called members, and an LLC can be managed by its members or by appointed managers. Each member's liability is typically limited to their investment in the company.
4. Corporation: A corporation is a separate legal entity from its owners (shareholders). Corporations offer limited liability protection to shareholders, meaning their personal assets are generally shielded from the company's debts and liabilities. Corporations have a formal management structure with a board of directors and officers.
C Corporation: This is the standard type of corporation, which is subject to corporate taxation. It has the flexibility to issue various classes of stock and can have an unlimited number of shareholders.
S Corporation: An S Corporation is a type of corporation that meets specific IRS requirements to allow for pass-through taxation. It has restrictions on the number and types of shareholders and is popular among small businesses.
5. Nonprofit Corporation: Nonprofit corporations are established for charitable, educational, religious, or other nonprofit purposes. They are eligible for tax-exempt status, and their profits are used to further the organization's mission rather than distributing dividends to shareholders.
6. Cooperative: A cooperative (co-op) is a business owned and operated by its members, who work together to achieve common goals. Profits and decision-making are shared among the members based on their level of participation or investment.
7. Joint Venture: A joint venture is a business arrangement where two or more parties collaborate to undertake a specific project or business activity. Joint ventures can be structured as separate legal entities or contractual agreements.
8. Limited Partnership (LP): A limited partnership has at least one general partner who manages the business and has unlimited liability, and one or more limited partners who contribute capital but have limited liability.
9. Limited Liability Partnership (LLP): An LLP is often used for professional services firms. It combines the limited liability protection of a corporation with the flexibility of a partnership. Each partner is not personally liable for the actions or debts of other partners.
10. Public Benefit Corporation: A public benefit corporation is a type of for-profit corporation that is also committed to achieving specific social or environmental objectives. It balances profit-making with a positive impact on society.
Why Do You Need a Company Name Search India?
When you are starting a business in India, it is vital to make sure that the name you choose for your company is available and not already in use by another business. A company name search in India can help you determine whether the name you have chosen is available or not.There are several reasons why you need to conduct a business name search in India. First, it helps you avoid any legal issues that could arise if you use a name that is already in use. Second, it protects your brand identity by ensuring that no one else is using a similar name. Third, it can help you identify potential customers and partners. Finally, it can help you create a unique and memorable brand for your business.
We have a team of experienced and knowledgeable experts who can help you select the perfect name for your business. We also have a huge database of Indian business names, so you can be sure to find the right one for your business. In addition, we offer a wide range of services to help you with all aspects of setting up your company, including company Registration, trademark registration
, and more.