Choosing the ideal name is essential when launching a business. Even with great study and research, the business name might need to be modified at some point. Clearing a business name can be a difficult process, whether it’s because of a trademark battle, a rebranding campaign, or just a desire for a more appropriate name. We’ll go over how to clear a business name in this article and address some associated queries. Is a Contract Valid if the Name is Misspelled?
A contract’s validity may not necessarily be affected if a company’s name is spelled incorrectly or incorrectly in the document. However, it can cause misunderstandings and possibly result in legal challenges in the future. It’s best to change the name on the contract as soon as possible to avoid any difficulties. Usually, this can be accomplished by making a straightforward change to the contract. How Can I Modify the Name on My Contract?
A formal amendment must be made in order to update the name listed on a contract. Either drafting a new contract with the correct name or adding an addition to the current one can accomplish this. The original name, the new name, and the change’s start date must all be specified in detail in the amendment. To make the change enforceable, both parties must sign it.
It is typically advised to modify the contract to reflect a party’s new name if that party changes. In particular, if the contract is in force for a long time, this can assure clarity and prevent uncertainty. However, it might not be necessary to alter the contract if the change is modest (such as a typo or abbreviation).
When a company changes its name, a form called MGT 14 needs to be submitted to the Registrar of Companies (ROC) in India. This document must be submitted within 30 days of the name change in accordance with Section 13 of the Companies Act, 2013. MGT 14 contains data about the board resolution that approved the name change, the company’s former and new names, and other information.
In conclusion, clearing a business name can be a difficult procedure, but it’s crucial to make sure that your company is using a name that is both appropriate and legal. If you need to alter your company name, make sure to update all pertinent paperwork and notify your stakeholders and clients of the change. And don’t be afraid to ask a legal expert for guidance if you need help through the procedure.
Under the Companies Act of 2013, all businesses that were incorporated on or after November 2, 2018, are required to submit a form called Inc 20A. In order to confirm that a company has begun operating, an Inc 20A must be filed within 180 days of incorporation.