Currently your business name must be registered separately in each State where you trade. This system is crazy, as well as expensive, but new rules arriving in early 2012 are set to change all that. The key features are:
- there'll be a single national business name database managed by ASIC;
- fees for registration will be $30 for 1 year or $70 for 3 years;
- you'll need to have an ABN to register the business name.
If you already have a business name:
- it'll be transferred to the national register automatically (but don't forget to renew it via the new system); and
- if someone else has the same name registered in a different state, ASIC will add a little something to the end of the name to differentiate between the two and ensure you can keep it, such as "Sydney" or "Melbourne";
If you don't have a business name and want one, you won't be able to register:
- a name similar or identical to an existing business name; or
- anything offensive, or which is likely to mislead others,
but you will be able to apply for the ABN and business name in one online application.
Remember, trade mark registration trumps business name registration! Business name registration is not intellectual property, it's just a legal requirement of doing business. The best way to ensure you have the exclusive right to use your business name is if it's protected by trade mark registration.
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