×

One National Stop for Registering your Business Name

As part of a growing trend for legislation to be nationalised, each State has agreed to refer their power to administer business name registration to the Federal Government. The Australian Securities and Investment Commission (ASIC) will be responsible for administering the new system. This initiative is designed to reduce red tape, save time, cut costs and give more certainty to Australian businesses when registering and dealing with registered business names.



The new National Business Names Registration Service is expected to go live on 28 May 2012, dependent on the passage of legislation through the state parliaments.


How will the new system affect you?

There will be many positive changes for you as the consumer when the new system is in place, including:

  • Registration fees under the new system will be less than the current fees payable in most States and Territories
  • An applicant will only have to make one application for the business regardless of how many States or Territories the business operates in
  • An application can be done in conjunction with an application for an ABN
  • An application can be done 24 hours a day, 7 days a week
  • You will be able to undertake due diligence investigations into the holder of the business name for free, with a small fee payable for additional information, similar to undertaking a company search through ASIC

Will the new system protect your trademark?

No. The registration of a business name does not protect a business owner’s trademark. It is very important for business owners to register their trademark so they have the exclusive right to use the brand connected to their business.

What happens if you already have a registered business name?

All names currently registered in various States will automatically be transferred to the new system at no cost. Of course, renewal fees will be payable of approximately $30 for one year renewals and $70 for three year renewals.


If you would like more information on this topic, please feel free to contact Peter McLaughlin of our office on (07) 3223 6100 or peterm@redchip.com.au


Back to Articles
Redchip

Recent Articles

kristopher-roller-188180-unsplash
Does innovation need a soul?

Innovation has been the buzzword of business for some time now. What does it actually mean, is it now tied to technology, and how does it all impact modern Australian SMEs?

Read more
victor-freitas-546919-unsplash
On your marks: 6 tips when buying a fitness business

There are many nuances to the health and fitness industry and it’s important to do your due diligence before leaping off the starting line. Read through these six key considerations to help you get started.

Read more
gavel
New law: Update consumer agreements or risk $50k penalty

As of 9 June 2019, any business that provides services, or goods and services, and offers a warranty to its consumers against defects, must update its warranties with new compulsory wording.

Read more