As a business person, you have to understand the benefits of picking a name and having it registered by ensuring there are no other companies using the same name to avoid business clashes. In a place like Ontario, it is easy for an individual to start and prosper in running an enterprise but you need to have the right attitude. If one wants to register their firm, be ready to go through a step by step process that ensures one misses nothing.
Have A Name For Your Enterprise
If you were to search online, one will be in a position to find so many names, and there is also so much information that can assist one in picking the right business name. Choosing a name means that your estimate clients know how to get to you, and it is essential for one to know some of the words and phrases that have been prohibited.
Do A Search
After coming up with a couple of names, you need to do your investigation and see the names that have already been picked and get them off your list. Just because a name has been registered does not give the firm exclusivity, however, in your research, one will come to the location of companies using a similar name and you also have a chance of knowing that that have sought exclusivity.
The Actual Registration Process
The registration process requires a person to have the location, a physical place of where the business will be located and a few other things including names of your partners if one is in partnership. There are so many places that one can use to register their firm in Ontario which could be a public office or one has a chance to do it online. The reason as to why most people love using the online system is because there is so much more that one can do online rather than registration which includes getting a workers safety and also insurance covers.
It Is Required That One Renews Their Business Name
It is essential for an individual to know that upgrading their business name after five years is their responsibility and a person should not forget doing so, or things would get messed up in the end. Sometimes, halfway before the five years are over, one might decide to change the name and you are needed to pay the registration fee once more.
Once the tough part of choosing the name and having the firm registered, you have to get the licenses needed to operate. There are people who start firms but things backfire on them because they fail to do things the right way; therefore, it is important to follow the legal procedure and have your firm registered.