Choosing a new business name?

 Source: IP Australia
 

So you are on the hunt for a new business name but don't know the difference between Business Names, Company Names, Domain Names and Trade Marks? We came across a handy fact sheet at IP Australia that explains these terms in simple words:

What is a business name?

"A business name is the name under which a business operates and registration identifies the owners of that business. Registration is compulsory, in every state and territory from which a business operates, and must be completed before the business starts trading. Unlike Trade Marks, business names do not necessarily provide proprietary rights for the use of the trading name. Business names are administered by the local Business Names Office in your State or Territory."

What is a company name?

"A company name, or registrable body, must be registered with the Australian Securities and Investment Commission (ASIC). If a company wishes to trade using a name other than its registered company name, it must register that trading name as a business name. Unlike Trade Marks, company names do not necessarily provide proprietary rights for the use of the trading name. ASIC is responsible for the administration of company names – see www.asic.gov.au".

What is a Trade Mark?

"A trade mark can be a letter, number, word, phrase, sound, smell, shape, logo, picture, aspect of packaging or any combination of these. Once you register a Trade Mark in Australia, you have exclusive legal right to use, license or sell it. Even if you do not register a trade mark, you can still use it. There is protection against unauthorised use of your trade mark under the trade practices or fair trading legislation and it is possible to take action under common law. However, trade mark registration is advisable because it can be an expensive and time consuming exercise to take action under common law."

What is a domain name?

"A domain name is the unique name is both intuitive and easy to remember.

To register a domain name or to view the rules and policies for registration of domain names in com.au, visit the .au Domain Administration Ltd (auDA) website, www.auda.org.au. You can also register a domain name as a word trade mark, provided that it meets the requirements of the Trade Marks Act."

Your Intellectual Property and other intangible assets are your most valuable businesses assets. Is your business name or brand protected? If not – why not?

Intellectual property gives the owner particualr rights. It's property in the original creation, brand or invention! As stated by IP Australia your identity distinguishes your goods and services from your competitors so it is important that it is memorable, meaningful and protected. Business, company names and domain names are best protected when they are also registered as Trade Marks.  

Read more about Trade Marks here.

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If you have any questions about IP law, please feel free to contact us.