Home – New Forums Starting your journey Buying an Existing Business – Help Reply To: Buying an Existing Business – Help

#1207140
JacquiPryor
Member
  • Total posts: 2,344
Up
0
::

Hi There

The reason they are issued in your company name is because the company is the legal entity – a business name is not a legal entity. The business name is an ‘alias’ for the person (e.g. company in your case) that is actually carrying on the business.

Once you have acquired the assets and transferred the business name to your company, will it be possible for you to change the company name to either the same as the business name or something very similar? e.g. add “Australia” to the end of the name or other descriptive type word. If your concern is the search factor, this might help?

In terms of actual transfer processes, they’re relatively simply for business names, domain names etc. If the business name is particularly important as the ‘brand’ or face of the business, make sure if they have registered the trademark for the name that this is included in the assets you are acquiring. If not, they could retain stronger rights to the name even with the transfer of the business name to you – and, retain rights to use that name still.