The business name

All countries require that all businesses that trade under a business
name and must register that name. The exception is a person who carries
on business under their own personal name with no other words added to
it.

The business name suggested is checked against a Company

Names Register to ensure that it is not too similar to the name of any
other trading entity.

Activity 6 – Determine business name

Please provide answers to the following questions:

1. Why is it important to have a business name?

Your brand's business name is often the first element of your brand that customers
will encounter. It's vital that the name is distinctive, authentic, memorable, and
enduring, so it resonates with your target audience. In other words, a strong brand
name is vital to establishing a strong brand reputation.

2. Why should the business name be not too similar to that used by
another firm?
Under the rules, the phrase 'identical or nearly identical' has a specific meaning. If
a name is identical or nearly identical to another name, we must not register it.
However, the law does not prevent the registration of business names that are
similar.

3. How can register a business name?

 Reserve and Register Your Business Name in Securities and Exchange Commission
(SEC)
 Get Barangay Clearance
 Acquire Mayor’s Permit
 Register in BI
4. Who can register a business name?

Any Filipino who is at least 18 years of age  can register a business name. Foreign
nationals who are authorized to do business in the Philippines under existing statutes
may also register.

5. Under what circumstances will the registration of a business name

be refused?

 Your name is already taken, very close, or sounds similar to one that is already
registered.
 Your Business name is too generic.
 Your Business name contains forbidden words.