A company name may only be assigned when transferring the business activities to which the company name in question is related. For such a transfer to be considered to have taken place it is usually required that the assignee continues the business activities of the company.
It is presumed that a company name is assigned in connection with an transfer of a business. It can however, be agreed that this is not considered to have taken place. When a company name includes personal names of a partner the general rule is a presumption under which the company name is not assigned in connection with a transfer.
A subsidiary name can be freely transferred.
The content of this article is intended to provide a general guide on the subject matter. Specialist advice should be sought about your specific circumstances.
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10 December 1996