As a business person, you have to understand the benefits of picking a name and having it registered by ensuring there are no other companies using the same name to avoid business clashes. In a place like Ontario, it is easy for an individual to start and prosper in running an enterprise but you need to have the right attitude. Getting your firm registered is a step by step procedure that should not be rushed through considering it is one of the ways to show that one is serious about running a business and wants to protect their rights.
Select The Best Name For Your Firm
Picking the name of your firm is not as tough as most people might think, but one has to come up with a lot of them so that you will have varieties to choose from when it comes to the actual selecting. Learn some of the words and phrases that are not accepted so that he procedure does not take the wrong turn.
Do A Search
Registering a name does not make it exclusive not unless it has a trademark on it, however, with the list that one has a chance of getting to know the names that have been picked that is why having several on your list is better. Just because a name has been registered does not give the firm exclusivity, however, in your research, one will come to the location of companies using a similar name and you also have a chance of knowing that that have sought exclusivity.
The Actual Registration Process
The registration process requires a person to have the location, a physical place of where the business will be located and a few other things including names of your partners if one is in partnership. There are so many places that one can use to register their firm in Ontario which could be a public office or one has a chance to do it online. An online registration is faster for most people, and one also has a chance of carrying out other services like getting permits and insurance covered.
It Is Required That One Renews Their Business Name
It is essential for an individual to know that upgrading their business name after five years is their responsibility and a person should not forget doing so, or things would get messed up in the end. In a situation your firm name changes within that period, no one needs to register their firm ounce more and pay the registration fee.
It is not so hard to register a company in Ontario, and once everything is set, consider getting the necessary legal permits to ensure your business will be up and running soon. When getting into entrepreneurship, one should take the proper precaution to protect themselves and their firm.