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Jun 30
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Name your Company
Posted by:MyEfilings
How to Name a Company

One of the most important steps in the Company Incorporation process is choosing name of the Company / LLP. In this article we will discuss the naming guidelines and process of naming a Company or LLP.

Before we discuss the naming guidelines, we need to understand three parts of a Company or LLP name. Name of a Company or LLP can be divided into three parts:

  1. Name                                b. Object                    c. Constitution

Let’s take an example of Companies named “VENUS LEGAL SERVICES PRIVATE LIMITED”, “TATA STEEL LIMITED” and "INDO ASIAN FINANCE LLP"

 

                        VENUS                      LEGAL SERVICES             PRIVATE LIMITED

                        Name                          Object                               Constitution

 

                        TATA                         STEEL                                LIMITED

                        Name                          Object                                Constitution

 

                        Indo Asian                 Finance                                LLP

                        Name                          Object                                Constitution

Name

The proposed name of the Company should be unique and acceptable as per Companies Act, 2013 or LLP Act, 2008. The name cannot be identical or too nearly resemble with the name of existing Company or a Registered Trademark. For example, if there is ABC Finance & Investments Private Limited, ABC Finance Limited or ABC Finance LLP name will not be allowed. It is therefore very important to check availability of name on MCA website before applying the same.

Object

Name of Company or LLP should indicate the object. The object part of the name defines the main object of the Company. It is, however, not compulsory that the proposed name should be indicative of its main object. But when a name indicates any activity, the same should be appropriately reflected in the Memorandum of Association.

Proposed name can be allowed even if company or LLP with similar name exists, if the object part is different. For example, if there is ABC Finance & Investments Private Limited, ABC Automobiles Private Limited or ABC Automobiles LLP may be allowed.

Abbreviated names such as ‘ABC Limited’ or ‘30K Limited’ may not be given to new company. If the company is well known in its respective field, this type of name can be allowed. For example Hindustan Machine Tools Limited is HMT Limited or Delhi Cloth Mills Limited is DCM Limited.

Some of the most used object parts of the Companies are as listed below:

 

Technology

Power

Hotel

Construction

Information

Pharmaceuticals

Aviation

Solar Power

Designs

Mobiles

Textiles

Steel

Restaurants

Real Estate

Manufacturing

Medicals

Shipping

Electricals

Food

Plastics

Motors

Hospital

Holding

Trading

Investments

Travels

Energy

Containers

Garments

Interiors

Securities

Services

Portfolio

Constitution

The constitution is the type of Company. Proposed name must contain the constitution.

A Private Limited Company can be represented as Private Limited of Pvt. Ltd.

A Public Limited Company can be represented as Limited or Ltd.

A Limited Liability Partnership can be represented as LLP.

A One Person Company can be represented as OPC.

Minimum Authorized Capital for certain keywords.

Use of certain specific keywords in the name of the Company requires a company to have certain minimum Authorized Capital. The table given below explains the minimum Authorized Capital for a certain keyword.

KEYWORD

AUTHORIZED CAPITAL

Corporation

5 Crores

International, Globe, Universal, Continental, InterContinental, Asiatic, Asia being the first word of the name

1 Crore

International, Globe, Universal, Continental, InterContinental, Asiatic, Asia used within the name (with our without brackets)

50 Lakhs

Hindustan, India, Bharat being first word of the name

50 Lakhs

Hindustan, India, Bharat used within the name (with or without brackets)

5 Lakhs

Industries, Udyog

1 Crore

Enterprises, Products, Business, Manufacturing

10 Lakhs

How to check name availability online

The proposed name of the company should be unique. Before applying the name the same should be checked with existing names of Company or LLP and Trademarks.

To check existing Company or LLP names visit the below mentioned link

www.mca.gov.in/DCAPortalWeb/dca/MyMCALogin.do?method=setDefaultProperty&mode=16

Enter proposed name of the Company in the Company or LLP Name field.

Enter object of the Company or LLP in the Activity Names.

The search will return existing names of the Companies or LLP with similar name. If there is no company registered with the similar name, proposed name may be approved.

 

To check existing Trademark visit the below mentioned link

http://ipindiaonline.gov.in/tmrpublicsearch/frmmain.aspx

Enter proposed name in the wordmark.

Enter relevant class in the Class field. Class details can be known by clicking “Class Details”

The list will display the similar trademarks.

If there are no records found, there are no similar trademarks.



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