12 Frequently Asked Questions on Name Reservation

Introduction

When it comes to starting a new business or registering a company, one crucial step is the name reservation process. To ensure a smooth and successful journey, entrepreneurs must navigate the intricacies of company name search, MCA name check, and the ultimate approval of their RUN (Reserve Unique Name). In this article, we will address 15 frequently asked questions related to name reservation.

Frequently Asked Questions on Name Reservation

1. What is name reservation, and why is it important?

Name reservation is the initial step in registering a company, wherein entrepreneurs search for and reserve a unique name for their business. It is a vital process as it secures the chosen name, preventing others from using it and providing legal protection to the business entity.

2. How do I search for a company name?

The following steps to do when searching for a company name:

• Go to the official website of the Ministry of Corporate Affairs (MCA) to search for a company name in your country.
• Use the designated search tool, enter the desired name, and check for its availability.
• The search results will indicate whether the name is already taken or if it is available for reservation.

3. Can I reserve multiple names for my company?

Yes, in most cases, you can reserve multiple names for your company during the name reservation process. However, ensure that all the names you reserve adhere to the guidelines and regulations set forth by the MCA.

4. What should I consider while selecting a name for my company?

It is important to examine criteria such as uniqueness, relevance to your business, simplicity, and the availability of domain names and trademarks related to the chosen name when selecting a name for your company. Additionally, ensure that the name aligns with legal requirements and does not infringe upon existing trademarks or copyrights.

5. What is the Reserve Unique Name (RUN) facility?

The Reserve Unique Name (RUN) facility is an online platform provided by the MCA that allows entrepreneurs to reserve a unique name for their company. This platform streamlines the name reservation process and facilitates quick and efficient name approval.

6. How can I use the RUN facility?

The following is the way to use the RUN facility:

• Go to the RUN web service on the official MCA website in order to use the RUN facility.
• Fill in the required details, including the proposed company name, type of entity, and relevant documents.
• After submission, the MCA will review the application and notify you of the approval or any discrepancies.

7. Is the approval of a company name guaranteed?

It is important to remember that approval for a company name reservation is subject to compliance with MCA guidelines and regulations. If your chosen name adheres to these rules and remains unique, the chances of approval are significantly higher.

8. How long does it take to get a company name approved?

The time taken for a company name approval can vary depending on various factors, including the workload at the MCA and the accuracy of the application. Generally, it takes around 1-2 business days to receive approval or any query from the MCA.

9. Can I make changes to my company name after reservation?

It may be difficult to make modifications to a company name once you have reserved it. It is advisable to thoroughly consider your chosen name before reserving it to avoid complications in the future. However, if required, you may consult with legal professionals or follow the guidelines provided by the MCA for name alteration.

10. What happens if my chosen name is already taken?

A name reservation process may result in rejection if the name you selected for the company is already taken or if it is too similar to an existing name. It is crucial to select a unique and distinctive name to increase your chances of approval.

11. What documents are required for the name reservation process?

In general, you need to provide identity and address verification, as well as relevant company documents such as the Memorandum of Association (MOA) and Articles of Association (AOA). Specific document needs may differ based on the nation and jurisdiction.

12. What should I do after getting my company name approved?

Whenever your company name is approved, you can proceed with the next steps of company registration, such as obtaining the necessary licenses, drafting the legal documents, and completing the incorporation process as per the guidelines provided.

Conclusion

In conclusion, the name reservation process is a crucial step in establishing a new business or registering a company. By understanding the intricacies of company name search, MCA name check, and obtaining company name approval, entrepreneurs can ensure a smooth and successful journey toward their business goals.