We use cookies to give you the best online experience. By using our website you agree to our use of cookies in accordance with our cookie policy. Learn more here.Close Me
In our last Update 1 , we reported on the impending
launch of the new national business name registration system. On 28
May 2012, the National Business Names Register was launched. This
will simplify the registration of business names in Australia.
The Australian Securities and Investments Commission
(ASIC) is now responsible for registering business
names throughout Australia.
National Business Names Register
Under the new regime, all business names will be registered at
the national level. All existing business names registered under
the old regime at a State or Territory level have been migrated
automatically to the new national business name register.
The register is accessible via ASIC's new online service
portal, ASIC Connect at www.connectonline.asic.gov.au.
ASIC Connect provides options to search, register, view the status
of, transfer, cancel and renew, business names.
ASIC Key
As part of the new regime, all individual business name owners
will be issued with an ASIC key. The ASIC key will link a business
name to the owner's ASIC Connect account. After the business
name is linked, transactions such as renewals can be completed. A
business name owner can share this key with authorised agents in
order to allow them to transact on their behalf.
ASIC will provide business name owners with an ASIC key upon
registration of a business name. If a name was registered prior to
28 May 2012, ASIC will issue an ASIC key as part of the renewal
process. Alternatively, business name owners or their agents can at
any time request that an ASIC key be issued to them.
An Important Reminder for Business Owners
It is important to remember that the registration of a business
name does not create a proprietary interest in the name. In order
to secure exclusive proprietary rights in respect of a name,
business owners should ensure that the name is registered as a
trade mark in respect of the goods and services for which it is
used. The advantage of registering a business name, other than to
comply with legislation, is to prevent another person from
registering an identical business name.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
