What should businesses keep in mind when changing their business name?

Article overview

Changing a business name is an important step, not only affecting the brand of that business but also affecting the legal issues involved when changing the company name. Choosing and changing a business name needs to be done carefully to ensure it does not cause difficulties for business operations. The article below will help you understand the reasons and important notes when changing your business name.

 Why change the business name?
Why change the business name?

What are some reasons for changing business names?

Businesses can change their name for a variety of reasons, including:

  • Change business strategy: Businesses want to change business strategy to target a new market, new product or new customer base;
  • Changes in structure and organization: When a business merges or restructures, a new name change is necessary to match the new scale or business form;
  • In the case of mandatory name change: The old enterprise name infringes on protected industrial property rights, then the enterprise whose name violates must register to change the enterprise name (based on Clause 2, Article 19 of Decree 01 /2021/ND-CP).

Changing a company name can come from many different reasons and the business has the right to decide to change the name during its operations depending on the needs of the business.

Note when changing the business name

Before changing the business name

Before carrying out the name change procedure, businesses need to note a few things as follows:

  • Check the legality of the new name: The new business name must comply with the provisions of law on naming, must not be identical or confusing with the registered name;
  • Survey and impact assessment: Changing a name can affect reputation and brand image, so businesses need to research carefully and consider factors before changing a new name;
  • Prepare complete documents: Prepare complete documents before registering to change the company name to ensure quick and effective procedure implementation.

After changing the business name

After changing the business name, the owner needs to:

  • Replace seal: Based on Article 43 of the Law on Enterprises 2020, the enterprise’s seal will include a seal made at a seal engraving facility or a seal in the form of a digital signature according to the provisions of law on electronic transactions. Changing a company name is one of the cases where a business needs to change its seal sample to ensure uniformity in records and documents;
  • Adjusting information on the company Charter: Pursuant to Article 24 of the Law on Enterprises 2020, the Company Charter includes the Charter upon business registration and the Charter amended and supplemented during operation. Therefore, after changing the name, the enterprise must make adjustments to the information about the enterprise name in the company charter;
  • Changing enterprise signs: According to Clause 4, Article 37 of the Law on Enterprises 2020, the enterprise name must be attached to the headquarters, branches, representative offices, and business locations of the enterprise. Therefore, after changing the business name, it is necessary to change the business sign to the new name;
  • Notify changes to agencies such as Tax, banks, social insurance and other specialized management agencies. At the same time, carry out procedures for adjusting business information with the above agencies.
  • Notification to partners and customers: Timely notification to partners, customers and authorities about changing the company name is very important, in order to maintain continuity in transactions and cooperation. ;
  • Register for new trademark protection: If the new name is related to the brand, the business should register for trademark protection to avoid future disputes.
 Regulations on changing business names
Regulations on changing business names

Procedures for changing business name

Profile components

Pursuant to Clause 1, Article 48 of Decree 01/2021/ND-CP, the registration dossier to change the business name includes:

  • Notice of change in business registration content, signed by the legal representative;
  • Resolutions, decisions and copies of meeting decisions of the Board of Members for limited liability companies with two or more members and partnerships, or of the General Meeting of Shareholders for joint stock companies. For a one-member limited liability company, a decision is required, the company owner’s decision to change the company name;
  • Power of attorney (if any).

Submit application

Enterprises submit documents at the Business Registration Office under the Department of Planning and Investment where the enterprise’s head office is registered.

Resolution deadline

For changing the company name that changes the content of the Business Registration Certificate, according to the provisions of Clause 3, Article 30 of the Law on Enterprises 2020, within 03 working days from receipt of complete and valid documents. The Business Registration Office issues a new Business Registration Certificate.

Business name change records
Business name change records

Consulting and support services for businesses when changing business names in Long Phan

Changing a business name needs to be done in accordance with the correct order and procedures to avoid legal risks. Through this article, Long Phan is always willing to support customers in the process of changing the company name as well as the necessary notes for effective implementation. Our services include:

  • Consulting on legal regulations related to changing company names, helping businesses understand their rights and obligations;
  • Support checking the feasibility of the new company name, ensuring it does not overlap with other businesses and complies with regulations;
  • Assist customers in preparing and drafting necessary documents such as name change applications, meeting minutes, and board of directors’ decisions (if any);
  • Enterprise representative carries out name change registration procedures at the competent state agency.;
  • Support businesses in updating new information on legal documents, websites, and media channels;
  • Answer questions during the implementation process, after changing the business name;
  • Deliver and receive results at home, free of charge within the city. Ho Chi Minh.

Changing a business name is an important decision. Following the correct processes and procedures will help businesses save time, minimize risks and ensure uninterrupted business operations. Together with a team of experienced experts, Long Phan will support customers in effectively changing their copany name. Please contact the hotline immediately 0906735386 for more specific and detailed advice.