Mark Kennan is a Kansas City writer specializing in personal finance and business topics. He has been writing since 2009 and has been published by Quicken, TurboTax and The Motley Fool. ”LLP Name” means the name by which a registered LLP is identified. In general, the name of the LLP describes its trade or brand name as well as its main activities. Limited liability companies and LPLs are required to include certain words in their names: in the company, the name plays an important role in assessing brand value and promoting sales. Creditors, debtors, customers, etc. know your business as LLP. The name that gives the LLP identity. Choosing the right name for LLP becomes important. Choosing the Unique LLP name brings more brand value to your business.
This is important because the proposed name for the LLP must not be similar or identical to the existing LLP/company. Before requesting llp names, check the LLP name available online. The name LLP can be divided into three parts, as described below. In this article, we discuss the choice of the name LLP. Remember to follow the important points before choosing your LLP name. Once the name application has been approved by the Registrar, the name llp will be reserved by the Ministry for a period of 90 days during which the procedure for establishing and registering LLP online will be completed, otherwise the name reserved for the applicant will be withdrawn and the applicant will have to submit a new application for name approval with payment of the required fees to the government. First Part helps LLP differentiate its distinctive identity from other market players. This part may be a embossed word or a word invented with the mixture of two or more of these words that can help reflect the characteristic of the services to be provided by LLP or the quality of the goods to be provided by LLP or such terms that are normally used in the industry but are unique. How you never know when your LLP name will become a trademark and will be recognized by the unique word chosen as the prefix in the name. We can see various examples in the corporate world such as Reliance, TATA, Larsen & Toubro (L&T), etc., which have become a brand in their own market by choosing words that reflect the quality, combination or characteristics of goods and services. An LLP or a foreign company may reserve its existing name (with which it is registered in the country of incorporation) for the registration of an LLP in India.
Such a reservation may initially be claimed for three years and may be extended on a new application. There are several rules to follow when choosing a name for your business or LLP. The third part is the legal requirement. TheLP Act, 2008 requires companies to add the word ”LLP” to the end of the name, indicating that the company is registered with the MCA under the LLP Act, 2008. This suffix is used to inform third parties and contracting parties of the composition of the organization and the responsibility of the partners. In addition, the LLP may not use suffixes such as ”Limited Liability Company”, ”Private Company”, ”Company”, ”Public Company” or similar words. In order to reserve the name, the applicant must submit an application in the prescribed form through his professional expert in the field, i.e. a works secretary or auditor. In this application, the applicant may submit a maximum of 6 names in order of preference. Upon proper verification, the Registrar may approve any of the names requested by the applicant for LLP registration. If you wish to object to a name, write to the registrar where the company you are opposing is registered: To check if a company or LLP name is already registered, look for an available company name and trademark.
You need the consent of a competent authority or you must meet certain requirements before you can use certain words. A copy of the consent must be sent to the business house with the application for registration of your company or LLP. The best way to calculate these changes from one company to another, but the ability to change the structure of your business quite often without changing the type of business unit can be of great help. You can customize how your LLP should be managed by drafting a partnership agreement, which we`ll explain in more detail below. A registered representative is a person or company that agrees to accept legal and other documents on behalf of your business. You should choose this person carefully, as they are responsible for informing you of the ongoing lawsuits against your business. A company name or a limited liability corporate name may be reserved by a natural or legal person in one of the permitted categories listed below. The reservation is made on a form available from the Secretary of State and is valid for 12 months.
The reservation can be extended for an unlimited number of 12 months. The fee for reserving the name appears in the Secretary of State`s fee schedule later in this guide. You need to check if it is not the ”same” as that of an existing business or an LLP. A name ”identical to” may not be identical to an existing business name, but if it is very similar, it can cause confusion. For example, if a company called ”Smith Transport Services Limited” already exists, you cannot register ”Smith Transport Services UK Limited”. You can only register this name if both companies are part of the same group and different conditions are met. The second part of the name helps consumers identify with the field of activity. Consumers can communicate with the LLP by easily identifying the LLP`s activities by name, which helps to indirectly promote the LLP`s activities. In this sense, it is important to understand that there is another variant of a partnership called a limited partnership. A limited partnership has two types of partners – general and limited. General partners are personally liable for the actions of other partners and the debts of the company.
Limited partners invest in the company and are only liable up to the amount of their investments. Limited partnerships are popular with family businesses and real estate developers. As with the presentation of a certificate of the adopted name, the registration of a company name or a limited liability company or a limited liability name does not necessarily mean that the name can be used without penalty. There may be existing users of this name who have perfected an earlier federal trademark or customary right on the name without filing with the Minnesota Secretary of State. Also note that registering an Internet domain name is a process that is completely independent of its filing with the Minnesota Secretary of State. These users may be able to use the courts to prevent founders, organizers, or companies from actually using the name, even if it is available for registration with the Secretary of State. Instructions for changing the name of a company must be given within 12 months of registration or name change. If the Registrar grants the appeal, the corporation or llp must change its name within 12 weeks. The Office of the Secretary of State does not accept the filing of articles for a corporation, the registration of a limited liability company, or a law for a limited liability company if the name of the company, limited liability company, or limited liability company is identical or indistinguishable from the name of a Minnesota company or a foreign company. Limited liability company, limited partnership, limited liability company or reserved name or trademark. (See the article titled ”Determining if a name is recognizable”) Once the name of your company or LLP has been registered, you should not need to change it.
However, there are a few exceptions. You may need to change the name of your business or LLP if: The Limited Liability Company Certificate legally allows your LLP to begin operations. You must submit this certificate with the status. This application usually requires the name, address of your company, names and contact details of partners, contact details of the registered agent and other administrative details. You will also have to pay a minor deposit fee of $50 to $100. Your limited liability company or LLP name must comply with certain regulations. If you choose a name that does not meet these requirements, you will not be able to use it. .
