Change Company Name Online

Change Company Name -Overview:

• Redefine your company’s identity with our expert “Change Company Name” service. Embrace a fresh start that aligns perfectly with your business vision. Our creative brainstorming generates impactful names, setting your brand apart in a competitive market. Whether it’s a strategic rebranding, acquisition, or market differentiation, we’ve got you covered. Trust our experienced team to handle legal verifications and ensure a smooth transition to your new name. Unlock new business opportunities and revitalize your brand image. Contact us today to embark on this transformative journey!

Reasons for Change of Company Name:

• There are several reasons why a company may consider changing its name:

  1. Rebranding: A company may opt for a name change as part of a strategic rebranding initiative. This could involve modernizing the brand image, attracting a new target audience, or adapting to changing market trends.
  2. Market Differentiation: In a highly competitive market, a distinct and memorable name can help the company stand out from its competitors, making it easier for customers to recognize and remember the brand.
  3. Mergers and Acquisitions: When companies merge or are acquired, a name change may be necessary to reflect the new entity and signal unity between the parties involved.
  4. Expansion and Diversification: If a company expands its offerings into new products or services, a name change can better represent the broader scope of its business activities.
  5. Legal Issues: Legal complications, such as trademark disputes or conflicting names with other businesses, may necessitate a name change to avoid potential legal conflicts.
  6. Cultural Sensitivity: Companies operating in international markets may choose to change their name to avoid any cultural or linguistic misunderstandings that could arise from their current name.
  7. Negative Associations: A company may decide to change its name if its current name is associated with negative publicity, controversies, or past issues that could affect its reputation.
  8. Outdated or Irrelevant Name: If a company’s name no longer reflects its core values, vision, or the industry it operates in, a name change can refresh the brand’s identity.
  9. Leadership Changes: When new management or ownership takes over a company, they may prefer to rebrand the company under a new name to signify a fresh start and new direction.
  10. Customer Perception: Customer feedback and market research may reveal that the current name is not resonating with the target audience, prompting a name change to better connect with customers.

  Overall, a name change can be a strategic decision that enables a company to position itself more effectively, stay relevant in a dynamic market, and enhance its overall brand identity and reputation.

Does Changing a Company’s Name Affect Its Rights

Changing a company’s name does not affect its existing rights, such as ownership of assets, trademarks, copyrights, or any other legal rights it possesses. The company’s legal rights and obligations remain intact even after a name change.

Key Points to Consider:

• Continuity of Legal Entity: The company remains the same legal entity with the same registration number and incorporation details. It retains its legal status, and all contracts, agreements, and legal relationships established under the previous name remain valid.
• Ownership of Assets and Intellectual Property: Changing the company’s name does not alter its ownership of assets, intellectual property, or any proprietary rights it previously held. The company retains ownership of all its assets and intellectual property under the new name.
• Existing Obligations and Liabilities: The name change does not release the company from any existing obligations, debts, or liabilities it had under its previous name. The company is still responsible for fulfilling all its contractual and legal commitments.
• Continuity of Licenses and Permits: The company’s licenses, permits, and certifications remain valid after the name change. However, it may need to update these documents with the new name for future renewals or registrations.
• Legal Proceedings: Any ongoing legal proceedings, disputes, or litigations involving the company continue unaffected by the name change. The company must address these matters under its new name.

Action Steps:

• Update Legal Documents: Ensure all legal documents, contracts, licenses, and permits are updated with the new company name to avoid confusion and ensure compliance.
• Inform Stakeholders: Inform customers, suppliers, and other stakeholders about the name change to maintain transparency and establish brand continuity.

Conclusion:

Overall, a name change is primarily a branding and marketing decision, and it does not impact the company’s legal status, rights, or responsibilities.

Procedure for Company Name Change

The procedure for changing a company’s name involves several steps and compliances to ensure a smooth and legally valid transition. Here is a general outline of the process:

• Board Resolution:
  • Convene a board meeting and pass a resolution approving the name change.
  • Authorize a designated director or company secretary to make necessary filings with the Registrar of Companies (RoC).
• Check Name Availability:
  • Conduct a name availability search with the RoC to ensure the desired name is unique and not already in use by another company.
  • Ensure the proposed name complies with the guidelines provided by the RoC.
• Special Resolution:
  • If the name change involves altering the Memorandum of Association (MOA) to reflect the new name, pass a special resolution at a general meeting of shareholders.
• Application for Name Approval:
  • Finalize the desired name and file an application for name approval (Form RUN – Reserve Unique Name) with the RoC.
  • The RoC will verify name availability and approve or reject the application.
• Filing of Forms:
  • Upon obtaining name approval, file necessary forms with the RoC for the name change.
  • The primary form is Form INC-24 (Application to the RoC for Approval of Central Government for Change of Name).
• Document Submission:
  • Along with Form INC-24, submit supporting documents such as the board resolution, special resolution (if applicable), and any other required documents to the RoC.
• RoC Approval:
  • The RoC will review the application and documents.
  • Upon compliance with relevant laws, the RoC will issue an approval certificate for the name change.
• Publication in Newspaper (Optional):
  • Some companies choose to publish a notice regarding the change of name in a newspaper circulated in the relevant state or city to inform the public about the new name.
• Update Company Records:
  • Update all official documents, stationery, website, marketing materials, and other communication platforms to reflect the new company name.
• New Certificate of Incorporation:
  • After completing all formalities, the RoC will issue a new Certificate of Incorporation with the updated company name.
  • The name change becomes effective from the date mentioned in the certificate.

Important Considerations:

• Adhere to timelines and requirements specified in the Companies Act and rules for a successful name change.
• Seeking professional advice and assistance can be beneficial in navigating the process and ensuring compliance with relevant laws and regulations.

Documents Required to Change Company Name

To change a company’s name, the following documents are typically required:

• Board Resolution:
  • A board resolution approving the change of company name should be passed in a board meeting.
  • The resolution must clearly state the decision to change the company’s name.
• Special Resolution (if applicable):
  • If the change in name involves altering the Memorandum of Association (MOA), a special resolution passed by the shareholders at a general meeting is necessary.
  • This step is required when the change in name involves a modification to the company’s objects clause.
• Application for Name Approval (Form RUN):
  • File an application for name approval with the Registrar of Companies (RoC) using Form RUN (Reserve Unique Name).
  • This form seeks approval from the RoC for the proposed name change.
• Name Approval Letter:
  • Retain the name approval letter received from the RoC once the proposed name is approved.
  • This letter serves as a crucial document in the name change process.
• Form INC-24 (Application for Change of Name):
  • File Form INC-24 with the RoC to seek approval from the Central Government for the change of name.
  • Accompany this form with the necessary supporting documents.
• Altered Memorandum of Association (MOA) and Articles of Association (AOA):
  • Submit the altered MOA and AOA reflecting the new name to the RoC if the name change involves altering the MOA.
• Advertisement (optional):
  • Some companies choose to publish a notice regarding the change of name in a newspaper circulated in the relevant state or city.
  • The newspaper publication can be optional or required based on the RoC’s discretion.
• DSC and DIN of Directors:
  • Provide the Digital Signature Certificates (DSC) of the authorized signatories filing the forms, along with the Director Identification Numbers (DIN) of the directors.
• Address Proof:
  • Submit proof of the company’s registered office address, such as the latest utility bill or lease agreement.
• Payment of Fees:
  • Pay the necessary fees prescribed by the RoC for the name change application and other related processes.

Important Points:

• Ensure all documents are accurately filled out and comply with the Companies Act and rules.
• Maintain proper records and documentation throughout the name change process for future reference and compliance purposes.
• Seeking professional advice can be helpful in ensuring that all the required documents are in order and the name change process is conducted smoothly.

The Process of Company Name Approval

• Name Availability Check:
  • Check the availability of the desired company name through the online portal of the Ministry of Corporate Affairs (MCA) or the Registrar of Companies (RoC) website.
  • Conduct a search to ensure that the proposed name is unique and not already in use by another company or trademarked.
• Preparation of Application (Form RUN):
  • Finalize the desired name and prepare the application for name approval.
  • Submit the application in Form RUN (Reserve Unique Name) with details such as the proposed company name and its significance.
• Digital Signature Certificate (DSC):
  • Digitally sign the application for name approval with a valid Digital Signature Certificate (DSC) of one of the directors or an authorized signatory of the company.
• Submission of Form RUN:
  • Submit Form RUN to the RoC through the MCA portal or by visiting the concerned RoC office physically.
  • Ensure accurate completion of all details in the form to avoid delays in the approval process.
• RoC Review and Approval:
  • The RoC will review the application for name approval.
  • If the proposed name meets the criteria for uniqueness and complies with the rules and regulations, the RoC will approve the name.
  • Approval or rejection is generally communicated within a few working days.
• Validity of Name Approval:
  • The name approval received from the RoC is valid for 20 days from the date of approval.
  • During this period, complete the remaining formalities for the name change, if applicable.
• Reapplication (if required):
  • In case of rejection, the company can reapply with a different name or modify the name to comply with the rules and guidelines.

Why Fastlegal:

We make it easier for entrepreneurs to get their name change of a private limited company online from the comfort of their home. With Fastlegal, you can get your private limited company name change done in just 7-10 working days. Our comprehensive package includes:

• Company name verification
• Filing of the documents
• Obtaining Director Identification Number and Digital Signature Certificate
• Registering the company with the Registrar of Companies
• Post-registration services like GST registration, filing of annual returns, and maintenance of statutory records.