Choosing a name for the enterprise is a mandatory task that the owner must perform when establishing the enterprise. When naming the enterprise, the business owner must pay attention to the following issues.
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Important considerations when naming enterprises? (Illustrative image)
From January 01, 2020, Enterprise Law 2020 will officially take effect, replacing the Enterprise Law 2014. The naming of enterprises is regulated as follows:
1. Methods of Naming Enterprises
According to Clause 1, Article 37 of Enterprise Law 2020, the Vietnamese name of an enterprise includes two components in the following order:
- Type of enterprise;- Personal name.
Specifically:
- The type of enterprise is written as:
- “Limited Liability Company” or “LLC” for a limited liability company;- “Joint-stock Company” or “JSC” for a joint-stock company;- “Partnership” or “Partnership Co.” for a partnership;- “Private Enterprise,” “PE” or “Private Co.” for a private enterprise.
- The personal name is written using letters of the Vietnamese alphabet, the letters F, J, Z, W, numbers, and symbols.
Example: An enterprise name can be set as:
"Thanh Dai Limited Liability Company" or "Thanh Dai LLC"
Note:
- The enterprise name must be displayed at its headquarters, branches, representative offices, and business locations of the enterprise.
- The enterprise name must be printed or written on transaction papers, records, documents, and publications issued by the enterprise.
In case the proposed enterprise name falls under any of the prohibitions on naming enterprises; having a duplicate or misleading name, etc., the business registration authority has the right to refuse the proposed registered name of the enterprise according to Clause 5, Article 37 of the Enterprise Law 2020.
2. Prohibitions on Naming Enterprises
- Using a name identical or confusingly similar to the name of a registered enterprise.
as stipulated in Article 41 of Enterprise Law 2020:
+ An identical name is understood as: the Vietnamese name of the enterprise proposed for registration is completely identical to the Vietnamese name of a registered enterprise.
+ A confusingly similar name occurs under the following cases:
- The Vietnamese name of the enterprise proposed for registration is pronounced the same as a registered enterprise;- The abbreviation of the enterprise proposed for registration is identical to the abbreviation of a registered enterprise;- The foreign language name of the enterprise proposed for registration is identical to the foreign language name of a registered enterprise;- The personal name of the enterprise proposed for registration only differs from the personal name of a same-type registered enterprise by a numeral, an ordinal number, or a letter in the Vietnamese alphabet, letters F, J, Z, W written immediately before or after the personal name of that enterprise;- The personal name of the enterprise proposed for registration only differs from the personal name of a same-type registered enterprise by the symbols “&” or “and”, “.”, “,”, “+”, “-”, “_”;- The personal name of the enterprise proposed for registration only differs from the personal name of a same-type registered enterprise by the prefix “new” written immediately before or after the registered personal name;- The personal name of the enterprise proposed for registration only differs from the personal name of a same-type registered enterprise by a grouping word such as “North”, “South”, “Central”, “West”, “East”;- The personal name of the enterprise is identical to the personal name of a registered enterprise.Example:
"Ngoc My Private Enterprise" and "Ngoc My Private Enterprise", which fall under identical pronunciation of the Vietnamese name of the proposed registered enterprise to that of a registered enterprise.
- Using names of state agencies, units of the people's armed forces, names of political organizations, socio-political organizations, socio-political-professional organizations, social organizations, social-professional organizations as the full or part of the enterprise's personal name, except in cases where there is approval from the agency, unit, or organization.
- Using words or symbols that violate the historical, cultural traditions, ethics, or fine customs of the nation.
3. Instructions on Searching Registered Enterprise Names to Avoid Duplicate or Confusing Names When Naming Enterprises
Before registering an enterprise name, the owner should consult the names of registered enterprises in the National Enterprise Registration Database.
Step 1: Visit the website: https://dangkykinhdoanh.gov.vn/vn/Pages/Trangchu.aspx
Step 2: In the search box, enter the proposed enterprise name => Click search.
Step 3: Search for the proposed enterprise name.
The enterprise name is an important part, not only has legal significance as recorded in the company’s documents but also serves as a mark for customers to remember the enterprise. Therefore, naming an enterprise that is “nice” but must comply with the law is very important.
Thuy Tram
