> How to Pick Your Business Name
> Why Should You Register Your Business Name?
> How to Register Your Business Name in the UK
> Conclusion
There are many benefits to registering your business name and a few different options available to business owners looking to maximise this important asset. National Business Register have been helping budding entrepreneurs set up and protect their businesses for over 37 years. In this article, we’ll outline how to pick the perfect name, why you should register it and which protection is best for your situation and type of business.
As intellectual property (IP) protection and business set-up specialists, we understand how valuable a strong business name can be to the success of your venture. Some entrepreneurs have picked a name before they’ve chosen what the company will do, but others struggle with the decision. Over the years, we have registered thousands of business names and know the common pitfalls. In this section, we’ll outline what laws you need to be aware of, vital research to undergo and how the different types of brand protection should affect your decision process.
Yes, there are laws in place in the UK to prevent offensive or misleading names from being used.
Ask friends, family and colleagues about your potential business name to gain some insight into how potential customers might receive it. Listen to people’s feedback objectively, especially if they are your target audience. They may notice something that you haven’t. A good way to break it down is by doing the ‘Hear/Speak/See’ test.
The main benefit of forming a company is that you limit your personal liability.
When setting up your business, you may wish to form a limited company with Companies House in the UK. The main benefit of forming a company is that you limit your personal liability, so your personal assets are not jeopardised if the venture runs up debts. However, limited businesses do require slightly more paperwork and administration than being a sole trader. To find out which is best for you, please read our article comparing both here. No two businesses with the same name can be registered with Companies House, so you will first need to check if your chosen name is available. You also do not need to ‘trade’ under the name you have registered with HMRC. This means that your business can have a limited name. For example, ‘National Business Register Group Limited’ is our company name, but we previously operated under the brand name ‘Start.biz’. It’s an important distinction to make if you are going to set up a business with multiple brands underneath it. These brand names will still be subject to intellectual property law, so it’s worth checking them out to ensure you aren’t infringing on anyone else’s current IP.
Registering and protecting your business name from the start is the best way to ensure there are no IP issues further down the line. However, we appreciate this isn’t always how it works. If you have been trading for a while with no IP protection, we advise getting in touch with an expert to evaluate and advise on the best way forward.
he most immediate benefit of registering your business name is that you are taking proactive steps to protect your name from being copied. However, simply registering your company may not be the whole story. Many forms of IP protection need to be applied for separately to ensure you are fully covered and reap the most from your hard work. Companies can register at Companies House with confusingly similar names and benefit from your reputation. Similarly, if you have no IP protection in place, persuading another company to change its name or branding can be a long and expensive process.
Having a trade mark or other form of IP protection adds prestige and validity to your business.
Having a trade mark or other form of IP protection adds prestige and validity to your business in the eyes of customers, employees, suppliers and other stakeholders. It also gives you peace of mind that when you’re building your brand, you won’t need to change it further down the line if someone disputes your IP ownership. IP protection also acts as a fantastic deterrent to potential copycats.
Whatever your entrepreneurial goals are with your business, having a solid foundation is key to growing a thriving company. No venture is without risk; however, preventing legal battles and disputes over branding, business names, or logos is a great way to avoid costly problems down the road. Also, when it comes time to seek investment or sell the business, your brand will become one, if not the most, valuable asset the business owns.
You’ve trusted the process and come up with the perfect name for your business. What is the best way to register it? This depends on a few factors. The main factor will be what status your business has and how much budget you have available. In this section, we’ll detail the three most common ways to register and protect your business name within the UK.
BNR is a unique service from National Business Register that protects your business name from ‘Passing Off’. The common law of ‘Passing Off’ stands to protect a trader’s goodwill and business against copying. Anyone can bring an action of ‘Passing Off’; however, with BNR, all representation, administration and legal fees up to £10,000 are covered. Business Name Registration is ideal for sole traders, limited companies and freelancers looking to protect their name and reputation. Find out how you can be protected for £100 per year here.
In the UK, you can register a business with Companies House, preventing anyone else from forming a limited company with exactly the same name. However, this doesn’t stop companies with similar names from registering. Seeking advice from a formation agent is advisable, as well as conducting some research into your competitors’ trading names.
Trade marks are something that customers recognise and associate with your good reputation.
A trade mark is a type of Intellectual Property (IP) connected with a particular company, product or service. Trade marks are something that customers recognise and associate with your good reputation and the quality of your product or service. These could be words, names, logos or designs. To register a trade mark in the UK, you have to make an application to the Intellectual Property Office (IPO). The process takes around 5 months, and your mark can be objected to and denied with no refund. We would always advise consulting an IP expert when applying to register a trade mark. They will be able to fill out the forms, advise on the likelihood of registration and defend your application against objections. National Business Register are trade mark specialists and have successfully registered thousands of marks for business owners, find out more here.
There are a few different ways to register your business in the UK. The best option for you depends on how you plan to run your company and what level of protection you need. Registering your business and your IP not only protects your business from imitation but also adds integrity, prestige and value–authenticating a brand’s identity. We would always recommend seeking professional advice when setting up your business to ensure your company is compliant and properly registered. This will put in place a solid foundation from which you can grow your business.
National Business Register Group Ltd
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