Published on June 01, 2012 Australia-wide management of business names by ASIC makes starting up easier
ASIC has taken over the management of business names for all of Australia, meaning that no longer can someone come in and register your exact business name in another state. It will also cut paperwork, and in some case registration fees for getting a new business online. This move follows in the heels of the ACCC taking over the management of fair trading complaints from state governments on 1 January 2011.
As existing business names are being transferred to the new federally managed register, current business owners do not need to do anything at this time. ASIC has will write to the address you had your business registered with you prior to your business name renewal with information on the new renewal price.
Reducing paper There’s now one flat rate for business registrations and renewals. The prices are the same for renewals and registrations: at the time of writing, $30 per year or $70 for three years.
If you’re looking to start your a business you can go to an online name availability checker to see if the name you want to use is available.
Does this make registering a trademark to protect your business unnecessary? The answer to this is definitely not! Just because a name must be unique does not give you any specific protection under the law – it just reserves that name Australia-wide.
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