Using a Company Name That Already Exists: Is it Legal?

Can I use a company name that already exists?

Trademarked Names. If a company name already exists as a trademark, you can’t use it even if the company doesn’t operate in your state. This search is especially important because failure to check existing trademarks could result in charges of willful infringement of a company’s trademark rights.

Read more on smallbusiness.chron.com

A distinctive name for your company is crucial for branding, marketing, and legal reasons. Though it can be difficult to come up with a fresh name, many business owners may wonder if they can use an existing company name. The quick response is no. It is against the law to use a company name that already exists, and doing so could result in future legal issues.

How Can I Tell If My Business Name Has Been Sought After?

Make sure the name you want for your company hasn’t already been taken before settling on it. On the Secretary of State’s website, you can execute a search for business names to accomplish this. This will demonstrate whether or not the name is already registered with the state. By completing a search on the United States Patent and Trademark Office’s website, you should also see if the name has already been trademarked. What Takes Place When a Company Changes Owners?

When a company’s ownership changes, the new owner might choose to preserve the current name or alter it. The name should be registered under the new owner’s ownership if they choose to maintain the previous name. To guarantee that the new name is registered and all legal documents are updated, they should follow the correct legal procedures if they wish to change the name.

How Do Contracts Affect When a Company Changes Ownership?

Contracts made while the previous owners were in control are nevertheless enforceable and binding today. To make sure that all current agreements still support their goals and interests as a corporation, the new owner should analyze all of them. To make sure that any changes to the contracts are binding on the law, the new owner should get legal advice before making any changes. Why Was Mgt. 14 Filed?

When a company’s board of directors or other key managerial employees are changed, a Mgt 14 form is submitted to the Registrar of Companies. The Companies Act of 2013 mandates the use of this form, which acts as a legal record of the change in management. To avoid any legal repercussions, it is crucial to submit this document within 30 days of the modification.

In conclusion, it is unlawful to use a company name that is already in use and may result in future legal issues. To make sure their selected name is original and not already taken, business owners should do a comprehensive search. When a firm changes hands, the new owner must either register the name under their ownership or change it legally. When there is a change in the board of directors or other key managerial employees, Mgt 14 should be submitted. Contracts made under the prior ownership are still valid and enforceable.