Name of your business undoubtedly is an important asset because it establishes strong identity and signifies what is your business. Therefore, to select an appropriate name is the first step in developing a new image of newly incorporated body.
Every proposed LLP has firstly to apply for the name by filing form 1.The name of the LLP is its trade name or brand name along with its main activities, and this LLP name is a registered name by which a Limited Liability Partnership is identified. It is very important that one chooses a unique name which does not resemble the name of any existing LLP, any registered company or trademarks.
Here are some points that one should be kept in mind before choosing any name for the LLP:
- The proposed name does not include any word or words which are offensive to particular section of the people.
- Proposed name should not have close resemblance to the existing name of an LLP.
- The proposed shall not have words like central, state, Federal, Republic, President, Rashtrapati, etc because these words signify a participation of Government in the Limited Liability Partnership which may confuse the general public.
- The proposed name shall not contain the word British India.
- The proposed name shall not contain the name of any country.
- The proposed name shall not signify and contain the words which indicative of any profession like Company Secretary, Chartered Accountant, advocates, etc.
- Do not use long and confusing names, use easy to remember names.
- Be creative and coin new and unique words, as your name should not resemble any of the existing trademark or registered company name.
- Avoid using generic or geographical words as your LLP name, as they are most likely to face objections by MCA.
In the case of LLP, the name shall end with words LLP. LLP name has three parts, the Name, Activity and words LLP. The structure should be:
Once you have decided on a name, do a Trademark Searchto check if you are accidentally infringing any existing trademark.
To check the name availability with MCA, you can go to www.mca.gov.in so that you are sure that no other business is using that name that you are aiming at.
Name approval process is governed by Ministry of Corporate Affairs (MCA). It takes 3 to 10 days. It cost Rs.200. Every allotted name is valid for 90 days. Therefore, the further actions should be completed or initiated within 90 days.