
Starting a new business? Get 40% off our accountancy services for 3 months! 😀
Going into legal battle over the name of your business can be pretty expensive, as well as disruptive to growth.
If you pick a business name that’s similar to someone else’s, however innocently done, you may be served with a cease and desist letter that forces you to change your business name. And changing the name of your business? That’s not often a simple process!
Changing the name of your business can entail a new shop sign, printed materials, domain name, and logo. And that’s on top of letting your existing customers know in order to avoid the risk of losing business.
On the other side of this issue is the risk of someone else choosing your business name, or one which is intended to be very similar.
The main risks here are confused customers (that you’ve worked hard to acquire) accidentally shopping with the imposter, and brand damage if the new kids on the block aren’t that great.
That’s why it’s so important to protect your business name in a legal sense, so you’re able to take appropriate action if needed. So how can you legally protect your business name?
If you are a sole trader, you don’t have to register your name but you can choose to trade under a business name if you want. The problem with this is that it offers no protection if someone else wants to use it.
Registering as a limited company means that your business name is recorded with Companies House. It keeps things official, and also means no one else can register the same trading name. Be aware though, that while this can prove useful in a legal dispute, even this doesn’t offer full protection.
This is because a registered business name doesn’t necessarily need to be the name someone trades under. It means that people can still trade under the same name as yours, even if their registered name is different.
Registering a trademark for your brand or business name doesn’t just help with business names. It can also protect your branding, products or services, and your logo design.
Trademarking means you can use legal action against anyone who tries to use your brand without permission, or tries to piggyback on your success by using the same name as you.
There are some restrictions on what you can and can’t register as a trademark, so it’s worth visiting the Government’s guidelines on this.
Trademarking and registering a limited company should hopefully ensure your business name is fully protected.
Find out how our online accounting services can help you with other areas of your business by calling 020 3355 4047.
Subscribe to our newsletter to get accounting tips like this right to your inbox
When you set up in business as a contractor you might either work as a sole trader or as a limited company….
Read MoreSmall Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…
Read MoreArchitecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…
Read MoreThe number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?
Please contact our sales team if you’re unsure
It is unlikely you will need this service, unless you are voluntarily registered for VAT.
Are you sure this is correct?
Call us on 020 3355 4047 if you’re not sure.
You only need this service if you want us to complete the bookkeeping on your behalf.
Would you prefer to complete your own bookkeeping?
Call us on 020 3355 4047 if you’re not sure.