INSTRUCTIONS FOR ORIGINAL COMPANY NAME

Create at: 07/10/2019 11:20

The article includes 4 main parts:

The importance of choosing a business name;
Relevant regulations when naming an enterprise;
Frequently asked questions when naming an enterprise;
Suggestions for naming good and meaningful business.

The importance of choosing a business name

The business name contributes to the branding of the business, is one of the important factors for customers to identify your products and services compared to competitors. Avoiding changing a business name will cause certain problems when the brand is changed.

Therefore, invest in choosing a good, meaningful and proper business name with some suggestions below from experience summarized.

Relevant regulations when naming the enterprise

Legal basis: Enterprise Law 2014

According to Article 38 of the Law on Enterprises 2014 - Enterprise name includes 2 elements:

The first element: Type of business, with the two most popular types today are CO., LTD and JSC
Element number two: proper name.

The proper name is written in letters in the Vietnamese alphabet, the letters F, J, Z, W, numbers and symbols.

For example: You choose the type of business as a COMPANY LIMITED with its own name TIEN PHAT TRADING SERVICES

The business name will be: TIEN PHAT TRADING SERVICES CO., LTD

In addition to Vietnamese names, enterprises may register additional foreign names and abbreviations, which are prescribed as follows:

An enterprise name in a foreign language is a name translated from a Vietnamese name according to the Latin script. When translated into a foreign language, the part "given name" can be kept intact or translated into the corresponding foreign language.
Example: TIEN PHAT SERVICE TRADING COMPANY LIMITED

Short name: Short name of the enterprise is abbreviated from Vietnamese name or name written in a foreign language.
For example: TP SER TRADING CO., LTD or TP SER TRA CO., LTD

Prohibitions when naming companies are pursuant to Article 38 of the Law on Enterprises 2014:

Putting a name that is identical or confusingly similar to the name of an enterprise registered for its business (including the case where the enterprise registers different business lines or geographical locations). Look up the company name on the National Business Registration Portal: gov.vn
For example, about the same name of the company: TIEN PHAT CO., LTD was established in 2015. At this point, you intend to name the company as: TIEN PHAT JOINT STOCK COMPANY.

Note: Type of business is not counted as a duplication factor. Therefore, this case is still considered the same name. You can make a difference but still get the word "TIEN PHAT" by adding some words that represent the industry, for example: Trade; Service; Construction or Engineering ... Thus, the company name can be: TIEN PHAT CONSTRUCTION SERVICES TRADING CO., LTD.

Adding a name like that helps to keep the name as desired and creates a characteristic of the company, so that when your customers and partners read through the name of the company, they can imagine the lines of your company. This is seen as an approach to introduce the company's products and services to customers.

Note: the disadvantage is that this special name is not suitable for companies with multi-industry, multi-field business.

With regard to name confusion, there are many cases of being mistaken, as specified in Clause 2, Article 42 as follows:
+ The Vietnamese name of the business applying for registration is read the same as the name of a registered business

For example: TIM SEN CO., LTD & TYM SEN CO., LTD.

+ The abbreviated name of the business applying for registration coincides with the abbreviated name of a registered business.

According to the law, a foreign language name and an abbreviated name are not required for naming the company.

+ The name in a foreign language of the enterprise applying for registration is identical to the foreign language name of a registered enterprise.

In this case, the customer must rename the Vietnamese name so that the foreign language name does not match.

+ The proper name of the enterprise applying for registration differs only from the proper name of a registered enterprise of the same type only by a natural number, ordinal number or letters in the Vietnamese alphabet and the letters F, J, Z, W immediately after the proper name of the business

+ The proper name of the enterprise applying for registration differs from that of a registered enterprise only by the symbol "&", ".", "-", "_";

+ The proper name of the enterprise applying for registration differs only from the proper name of a registered enterprise of the same type by the word "neo" right before or "new" right after or before the proper name of a registered enterprise;

+ The proper name of the enterprise applying for registration differs only from the proper name of a registered enterprise of the same type by the words "North", "South", "Central", "West", "East" or words with similar meanings.

Using names of CQNN, people's armed forces unit, names of political organizations, socio-political organizations, socio-political organizations - professional, social organizations, socio-professional organizations to to do all or part of the proper name of the business, unless it is approved by that agency, unit or organization.
Using words and symbols that violate national historical, cultural, ethical, and fine traditions and customs.

The importance of naming a business

1. Frequently asked questions when naming business
Your company has only one member, with the type of limited company, must be named CO., LTD or ONE MEMBER LIMITED COMPANY (MTV)?
As shared, the first element that requires only CO., LTD, the word "ONE MEMBER" is optional content. Therefore, advice from TASCO, you should not put the word "MTV" in your company name, avoid wordy and difficult to remember.

Is the company name written in English okay? Example: NEWTECH JOINT STOCK COMPANY.
The answer is yes.

As shared, names are written with letters, numbers and symbols. As a rule, it is not required to be Vietnamese.

Do you think the company name must reflect the full functions and business lines?
For example: Vinh Phat Import Export Production Trade Services Company Limited. This name is good, fully functional, but very long, can make it difficult for customers to remember, in writing transactions are also inconvenient. In particular, in terms of regulations, the law does not require a company name to represent all functions and business lines. Therefore, advice from TASCO, you should name your company simple, easy to remember.

2. Suggestions for a good and meaningful company name