Upcoming Changes to Business Name Registration
Currently, if a business operates nationally, the business name needs to be registered separately in each State or Territory.
From 28 May 2012, business names will be registered through a national register of business names. ASIC will now be responsible for registering, renewing and administrating business names for all Australian businesses.
The new National Business Names Register aims to make it more convenient and cost effective to register your business name.
How will this affect you?
(1) If prior to 28 May 2012 you had a business name registered in a State or Territory the business name will automatically be transferred to the National Business Names Register.
(2) If you do not have a business name registered in a State or Territory before 28 May 2012, then your application to register your business name will need to be lodged with ASIC. This application can be completed with ASIC on line.
(3) Although the new system will replace the need to register a business name in multiple States and Territories it will not negate the need to register a company or trademark your company/business name for a greater level of protection.
What happens if I have my business names currently registered in more than one State or Territory?
If you have an identical business name registered in more than one State or Territory, and all of these current registrations transfer across to the new National Business Names Register, you can choose to keep only one record of your business name and cancel the rest.
If combining your business names into one record will result in you having more than one Principal Place of Business registered on the register then ASIC may request that you nominate a single principal place of business or address for service of documents.
What happens if my business name is identical to someone else’s business name registered in another State or Territory and they both transfer across to the new register?
If this happens then ASIC will simply provide the public with additional identifying information on the public register which may involve ASIC adding a distinguishing word (known as an identifier) to your business name that appears on the Business Names Register. The Identifier will not form part of your registered business name it will simply make it easier for a member of the public to differentiate your business from another business with the same name.
If you have any questions regarding the upcoming changes to business name registration, please contact Alison Garland on 4925 2077.