An important component of a company’s identification and branding is its trading name. It is the name the business uses to distinguish itself and its goods or services in the marketplace. But what takes place when two businesses share a trading name? Is it legal, or does it raise questions of law and cause confusion?
No, two businesses cannot share the same trading name. A company’s trading name serves as a distinctive identification, thus it must be protected to prevent confusion, income loss, and legal problems. A corporation cannot use a name that is already being used by another company, according to the Companies Act of 2006, which regulates the use of trading names. The business would have to change its name in this case or face legal repercussions.
A business must file it as a trademark in order to protect a trade name. A trademark is a special designation that sets apart a company’s goods or services from those of its rivals. It grants the owner the sole right to utilize the mark and the authority to enjoin others from doing the same. The legal process of trademark registration include submitting an application to the appropriate authorities along with a fee. Once a trademark is registered, it is secured for a set amount of time, often ten years, and can be extended after that. How can you tell if a name has a trademark?
A trademark search must be done in order to confirm that a trading name is not already registered before using it. Online trademark searches and trademark lawyer searches are also options. Whether a name is accessible or previously registered can be determined by conducting a trademark search. The business can proceed to register the name as a trademark if it is accessible. The business must pick an alternative name if it is already registered in order to prevent infringement and legal action.
Trade names are not the same as legal names. A company’s registered name with the appropriate authorities is known as its legal name. It is the name that appears on official papers like tax records, company licenses, and incorporation certificates. Contrarily, a trade name is the name that a business uses to distinguish itself and its goods or services in the marketplace. A registered trade name is what?
A name that has been registered as a trademark is called a registered trade name. It is a special code that sets apart a company’s goods or services from those of its rivals. With a registered trade name, the owner has the sole right to use the mark and the ability to legally bar others from doing the same.
In summary, two businesses cannot share the same trading name. A trade name must be protected by being listed as a trademark in order to prevent confusion, financial loss, and legal problems. It is essential to run a trademark search before utilizing a trading name to make sure it hasn’t previously been registered. A legal name is the name that a corporation is registered under with the appropriate authorities; a trade name is not a legal name. A name that has been registered as a trademark is called a registered trade name.