Beat the competition to new, prestigious company names

31 January 2015 will see the sensitive words legislation changing with changes also expected to the "same as" legislation.  This will provide businesses with a unique opportunity to secure new, prestigious company names previously unavailable to them.
Under The Company, Limited Liability Partnership and Business Names (Sensitive Words and Expressions) Regulations 2014 (No.3140) a number of words will no longer be deemed “sensitive”.  These include Group, Holding, International, National and United Kingdom.

It is expected that the draft legislation, The Company, Limited Liability Partnership and Business (Names and Trading Disclosures) Regulations 2014, will also come into force on 31st January 2015.  If so, this would mean that the words Export, Group, Holdings, Imports, International and Services (and their Gaelic and Welsh equivalents) are removed from "same as" considerations and viewed as distinct at the end of a company name.

This could mean a "land grab" from businesses seeking to register new company names from 31st January 2015 with company names such as "United Kingdom Group Limited" a real possibility for the first time.  New company applications are dealt with at Companies House on a first come, first served basis, so it will be important to register your new company as soon as possible when the new legislation comes into effect.  You should note though that existing companies will retain the right to object to Companies House if they feel that a newly registered company name is too similar to their own.

Companies with existing names currently benefitting from the protection of the "same as" legislation should also take note, and consider registering further dormant companies for name protection purposes.  If you currently control "XYZ 789 Services Limited" for example, competitors could potentially register " XYZ 789 Services Group Limited" on 31st January 2015.  This would not be possible under the current "same as" legislation.

So what should businesses and their advisers be considering?

Think about the benefits of registering new prestigious company names before your competitors do and the potential risks of not protecting existing ones.

My team and I will be happy to help so call us on 0117 918 1391or email companyformation@jordans.co.uk

 

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