What’s a company name?
A company name is the legal name of your entity. It appears on all official documents and legal papers, and it includes the proprietary limited suffix (Pty Ltd or a variation). You set it when you register your company.
What is a business name?
A business name, formerly called a trading name, is an alternative name you can operate under. Each business name is registered to an ABN. Each business structure (sole trader, company or partnership) needs its own ABN, and one ABN can hold multiple business names.
If you want to use your company name without the legal element (eg Pty Ltd), you will need to register this as a business name
For instance, if your company is registered as "Tracy’s Tutoring Pty Ltd," you may also wish to acquire ownership of the business name "Tracy’s Tutoring."
Do I need to register my business name?
Yes, if you want to trade under a name different from your legal name. For example:
Company: Aaron Anderson Pty Ltd wants to trade as “AZ Solutions”. It must register “AZ Solutions” as a business name.
Sole trader: Tessa Kaur runs a florist as “Kaur’s Flowers”. She must register that name.
Partnership: Sean Smith and Dominic Jones trade as “Sean and Dom’s Building”. They must register that name.
No registration is needed if you trade under your legal name. For example, sole trader Carol Sheaves runs a bookkeeping business under her own name, and two partners trading under their full names don’t need one. A company that always uses its full name, such as “Toor Essentials Pty Ltd”, also doesn’t need one.
Can I Update My Business Name Once It’s Registered?
No. A registered business name can’t be changed, even slightly. To trade under a different name, you must register a new one. Business names must be renewed yearly with a fee paid to ASIC.
To transfer a business name, see this article.
Do I Have To Register My Business Name In Each State and Territory?
No. You only have to register your business name once. After that, your name is registered nationally.
When I register my business name, is it protected by a trademark too?
No. Registering your business name doesn’t give you any exclusive trading, branding or ownership rights over that name. Only a trademark can offer that kind of protection.
Even though registering your business name means it’s registered nationally and stops others from registering, it doesn’t mean that another business can’t operate with a similar name.
If you require exclusive trading or branding rights for your business name, consider registering your trademark through Lawpath. You can access the 'Registrations' section in your Lawpath account or click this link for assistance.