Company Registration For New Businesses

So you have finally taken the plunge and decided to implement that innovative business idea you had years ago… This is a big step and will often prove to be a very financially and emotionally rewarding decision. However, you need to take care of all the important details so you can ensure the success of your company. Company registration includes many different aspects which we’re going to discuss. Although the actual requirements and details may vary from state to state, province to province or by country, many of the important tasks remain the same.

o Determine Your Company Structure

Before you register your business, you need to decide which type of business works best for your company. You can choose to operate as a sole trader which refers to an individual who operates on his/her own. A partnership involves an association of individuals or entities that conduct business together, but are not considered a company. A trust is a lesser-known option that refers to an entity that holds income or property for the benefit of others. Last but not least, is the term company that denotes a legal entity that is separate from its shareholders.

There are advantages and disadvantages to each type of business. Therefore, you should obtain as much information as possible by obtaining manuals, conducting online searches, discussing options with other professionals in your industry and contacting local business agencies. Many countries have organizations that are specifically designed to provide support to new or small businesses. They can assist you by providing valuable advice and contact information. These organizations will help you ensure you are taking care of all the important registration details.

o Register Your Company Name

Registering your new company involves several steps. First, you need to decide on an appropriate name for your business and then register it with the appropriate local authorities. Depending on the country in which you live, you should be able to conduct an online search for available company names. You may require special approval to include certain words in your company name, and you can only choose a name that is not already registered by another company.

o Register Your Company Trademark

As soon as you have registered the name, you should consider registering a company trademark. This is an identifying sign that distinguishes the products and services your company offers from those provided by your competitors. A trademark can consist of a wide variety of elements such as names, logos, pictures, numbers, and more recently, scents, sounds, tastes, smells and moving images.

We recommend you register a trademark for your company, rather than just a company name. The reason is that a trademark offers you more rights and legal options if someone else tries to use your company name. Unfortunately, many new business owners mistakenly assume that registering a business name, domain name or company name will give them propriety rights.

You will retain exclusive rights to your company trademark. This will ensure that no other companies are either already using the name or will use it without your authorized permission in the future. If you plan to do business in more than one country, you will have to register your company trademark in each relevant country. If you have any questions regarding registering a trademark, you should discuss them with a professional trademark attorney, lawyer or accountant.

o Register Your Domain Name

Once you have either designed and created your site or hired a professional to do so, you need to register your domain name. This is the actual online address, also known as an URL, which will provide you with an online identity. Visitors type in this particular address to locate your website. Anyone can register a domain name. However, only commercial entities can obtain a domain name that ends in “.com” or “.net.” You normally pay an annual registration fee that will give you rights to that particular address or domain name for one year.

Nowadays, it’s very important that you have a professional company website. Prospective customers and clients often want to find out more about your particular business by visiting your site. If you don’t have one, you may lose credibility. Company websites are also very effective marketing tools that enable you to attract a larger customer base and provide current information about your company. Registering a domain name also enables you to retain the same address, even if you end up changing your web host.

If you’re starting a new business, take some time to determine what business structure makes the most sense. You should also spend the time and money required to register your company name, trademark and domain name. These are all worthwhile investments that will protect your business, enhance your credibility and enhance your visibility. Then you can focus your time and energy on making your business a success!