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  • #981392
    fatican
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    • Total posts: 3
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    Hi ALL,

    New here..my partner & I have begun a business to import from China.
    Still early stage of product development. I have a few questions if I may.

    1. We registered a business name (not a Company name ..call it xyz industry) and decided on a name for our product (abcd).The name is unique and a friend suggested we register another business name – same as the product. We did..now.. can we use both names in package labelling..eg
    xyz industry trading as abcd?..or is this just confusing the issue…should we just trade under the first business name?..or the second?..we are kind of stumbling along here..sorry.
    2. Should we get insurance for the product/public liability..there is a small risk attached to this product..(choking hazard etc – novelty)… even though this will not be a full time business? Any comments appreciated.

    Thanks

    Mike

    #1130051
    Anonymous
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    • Total posts: 11,464
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    Hi fatican,

    Welcome to the forums, and congratulations with your progress so far.

    I’m not the right person to help wit your questions, but I’m sure someone around here will have some info to share with you.

    All the best,
    Jayne

    #1130052
    fatican
    Member
    • Total posts: 3
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    Hi Jayne,

    Thanks..hopefully someone knows about naming and labelling and insurance.

    Cheers

    Mike

    #1130053
    kathiemt
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    • Total posts: 1,167
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    Hi Mike and welcome. I can’t answer your questions either but I suspect Jacquie might be able to when she’s around perhaps. Still Christmas holidays for many so there may be some who can help but aren’t here at the moment.

    #1130054
    Staf
    Member
    • Total posts: 4
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    Hi Mike! (Fatican)

    If you need any assistance with the freight and importing side of things, please let me know!
    We coordinate quite a lot of FCL, LCL and airfreight from China to Australia for our clients, so I’ll be happy to help out with whatever I can for you.

    Let me know if I can help!

    Regards,

    Stafford
    0419 300 745

    #1130055
    Divert To Mobile
    Member
    • Total posts: 2,751
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    fatican, post: 147408 wrote:
    Hi ALL,

    New here..my partner & I have begun a business to import from China.
    Still early stage of product development. I have a few questions if I may.

    1. We registered a business name (not a Company name ..call it xyz industry) and decided on a name for our product (abcd).The name is unique and a friend suggested we register another business name – same as the product. We did..now.. can we use both names in package labelling..eg
    xyz industry trading as abcd?..or is this just confusing the issue…should we just trade under the first business name?..or the second?..we are kind of stumbling along here..sorry.
    2. Should we get insurance for the product/public liability..there is a small risk attached to this product..(choking hazard etc – novelty)… even though this will not be a full time business? Any comments appreciated.

    Thanks

    Mike

    Hi Mike,

    Welcome to the forum.
    To confirm, you say you registered a second business name the same as the product? with ASIC as a trading name? your not talking about registering domain names?
    if you have registered the trading name with ASIC you can label using that name.

    Doing it will not necessarily confuse the issue, many major brands trade and label under different names.

    2. You said you were importing directly from china so I will assume the manufacturer does not have any formal representation in Australia, in that case I think you should definitely get insurance. As the importer you are the entity responsible for the product and its effects on anything in Australia.

    Best of luck,

    Steve

    #1130056
    LucasArthur
    Participant
    • Total posts: 3,171
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    Hi Mike

    Welcome to the forums.. and congratulations on your decision to set yourself up… for importing.. WOOT WOOT.. this will keep you on your toes, especially since you say its not your full time business.

    Although i am not ‘qualified to respond’ i do have a few things to add that you may wish to consider…

    Reading your post, and please correct me if i am incorrect, although you say you have registered a business name (not a company) along with a second registered business name for the product… if this is the case there are a few things you may wish to look into/consider:
    a. As its a registered business are you implementing a partnership agreement, as a registered business simply means you and your friend are the OWNERS and responsbile partied for the business – in its entirety..

    b. This leads me to your query on insurance, i would strongly recommend insurance because if something goes wrong with your product it will be YOU AND YOUR FRIEND that are taken to the cleaners personally and not a company…

    c. With regards to your business name trading as a business name, i am not really sure this is possible as the first business name (being xyz industry) is not its own legal entity and as such can not own something in its own right. it would simply be you and your friend, trading as the other name of ABCD – now i could be completely wrong here, although a non entity (xyz industry) has no legal ability to own anything..

    d. definitely investigate and have on side a great freight forwarder, CAT FROM GLOBAL LOGISTICS is on the forums and is very personable… A great forwarder will be your best friend, enable you to feel comfortable in your importing responsibilities and assist you in navigating all and any mine fields you may come across when trying to import your novelty items… be it the customs duties, freight charges, LCL, etc etc… it will also provide you a base cost to import items allowing you to back challenge the cost of your goods to ensure you get your pricing right…

    e. as your entering a partnership, definitely speak to your own respective accountants to ensure the structure is correct.. regardless of if it is a part time role… some people venture down the path of registered business, and yet a company (for a nominal additional fee) would have been the best legal decision.. not talking you out of your strategy, just advising to get independent advice to ensure you are both protected.. ones best laid plans, especially between friends, may be honourable although when money is involved it can be easy to lose ones friends in business…

    f. have fun.. want to hear more about your plans, or product so look forward to seeing you around…

    Cheers
    Jason

    Jason Ramage | Lucas Arthur Pty Ltd | E: [email protected]   P: 61 3 8324 0344    M: 61 412 244 888
    #1130057
    JacquiPryor
    Member
    • Total posts: 2,344
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    Hi Mike,

    I realise I am a little late to your post but hope that this helps…

    1. We registered a business name (not a Company name ..call it xyz industry) and decided on a name for our product (abcd).The name is unique and a friend suggested we register another business name – same as the product. We did..now.. can we use both names in package labelling..eg
    xyz industry trading as abcd?..or is this just confusing the issue…should we just trade under the first business name?..or the second?..we are kind of stumbling along here..sorry.

    As Jason noted, you can’t have a business name trading as another business name. A business name is basically an alias for whoever is carrying on that business (be that an individual, a partnership or a company etc).

    If the name of your product is unique, I would suggest you consider registering it as a trademark. So your XYZ Industry business could then sell ‘product name’. (rather than Xyz Industry trading as second name). A registered trademark gives the owner (i.e. you) the right to use that name for nominated goods or services, and the right to take action against others found infringing your rights – so, it ‘protects’ the name and ensures it is yours. (A business name does not do this, and believe it or not using the business name could even infringe existing trademark rights!).

    I would suggest, given your explanation of your business that the trademark registration for your product name would be best, and, then simply continue trading as XYZ Industry (first name). This ‘trading name’ would be the one to appear on any invoices/documentation of the business, so, your customers and suppliers can see who they are doing business with, but then the trademark would exist and be protected in relation to the actual product ‘brand’.

    I hope this helps. Please feel free to get in touch with any questions :)

    #1130058
    LucasArthur
    Participant
    • Total posts: 3,171
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    Howdy Jacqui

    Thanks for being a lil more articulate than me.. gotta learn not to ramble,,, Jason, stop,, stop.. playing in my head on a regular basis.. LOL

    Cheers
    Jason

    Jason Ramage | Lucas Arthur Pty Ltd | E: [email protected]   P: 61 3 8324 0344    M: 61 412 244 888
    #1130059
    JacquiPryor
    Member
    • Total posts: 2,344
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    gotta learn not to ramble,,, Jason, stop,, stop.. playing in my head on a regular basis.. LOL

    haha! Did you not see the length of my post? Queen rambler over here!!

    #1130060
    LucasArthur
    Participant
    • Total posts: 3,171
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    JacquiPryor, post: 148406 wrote:
    haha! Did you not see the length of my post? Queen rambler over here!!

    LOL, yes but the benefit of being female, you ramble with purpose.. my situation is rambling and then forgetting the point i was trying to get across :D

    Jason Ramage | Lucas Arthur Pty Ltd | E: [email protected]   P: 61 3 8324 0344    M: 61 412 244 888
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