Details about “Four letter names” –
Picking out a company’s name is necessary for every business or organization. Four letter names – It may be a word or a few words that are ideally familiar with set an entity besides the other registered entities.
In Australia, the Australian Sec and Investments Commission (ASIC) approves a corporation name as part of the registration practice. If approved by the ASIC, the chosen character has to be the company’s identity for as long as this company exists.
Pick three titles Typically,
anyone who wants to register a company will have to decide on many things that will amount to the details of a registration program.
Foremost is the choice of any name. ASIC has countless company name reservations and signups on file. You will be refused the use of a word if that has already been registered or when it is similar to an existing or arranged company name.
So it is recommended that you think of at least three titles that you would like to use for your business and to list them inside the order of preference. Please make an effort to keep them simple and use words and phrases that reflect the nature of your organization.
Using the ASIC online facilities makes it possible to verify the name you choose just before filing the particular registration application. Name confirmation is easy.
Go to the ASIC website and type in its name you wish to verify in “Search ASIC Registers.” The other titles you have listed will come conveniently if initial name research shows that another entity uses the same or related name.
Reserve the offered name. It’s best to reserve some name ahead of the actual getting of the ASIC registration. For example, you feel that you need more of their time to complete the registration application form or come up with the required investment.
By reserving the name, you will be preventing anyone else from sometimes booking it or with it in another registration application. Brand reservations are held for just two months.
If, before the conclusion of these 60 days, you are still unable to total the registration requirements, you can apply for an extension of the initial reservation. If granted, the two-month extension will undoubtedly use.
A good rule of thumb would be to apply to extend the booking one week before the original period expires.
There is a reservation charge of $40 for the first two months and another $40 for the expansion period.
Once you have reserved an organization name, it can be applied in your application for organization registration.
However, even though you might have reserved a name, it is far from guaranteed that you will be able to make use of this name for company signup. Another organization with prior registration might object to your name, declaring it is too similar or even confusingly similar to theirs. ASIC reminds applicants to be ready for any challenges regarding their own reserved or registered organization names – another good cause to have those other options on standby.