So, you’ve decided to jumpstart your own business. Congratulations! A crucial component of legitimizing your venture is registering your business name with the Department of Trade and Industry. In the previous article, we’ve covered which agency you must register your business name with according to the type of organization you have decided to form. Sole proprietorships, by far the easiest and most affordable business to set up, are required to register their business name with the DTI, while partnerships and corporations must file their application with the SEC.
Your business name is the identity of your venture. It’s what your clients and customers will know you as, so choose this carefully. In determining your business name, take note of these guidelines set by the DTI on acceptable and prohibited business names.
In determining whether a proposed business name for registration is acceptable, the following factors shall be considered:
– The root word or words of the name shall be considered. (e.g. “Island” instead of “Islander”)
– The business name should describe the nature of the business.
– It should be comprised solely of any or all of the following:– Letters, numerals, and punctuation marks that are part of the English and Filipino language.
Names which are not acceptable:
– Those which are or whose nature of business is illegal, offensive, scandalous, or contrary to propriety.
– Those which are identical or nearly resemble business names already registered with the Department of Trade and Industry, the Securities and Exchange Commission (SEC), Cooperative Development Agency (CDA), Department of Labor and Employment (DOLE) or any other government office authorized by law to register names, because these are likely to cause confusion or mistake in the minds of the public and prejudice the interest of the owner of the registered business name or firm name taking into consideration the following:
o nature of the business
o product/service handled
o spelling, sound and meaning
o use of dominant/descriptive words and
o such other factors as maybe determined by the BTRCP Director
– Names composed purely of generic words;
Name which by law or regulation cannot be appropriated;
– Names, words, terms, or expressions used to designate or distinguish, or suggestive of quality of any class of goods, articles, merchandise, or service;
– Names or styles used by the government in its governmental functions;
– The names or abbreviation of names, of any nation, inter-governmental or international organization unless authorized by the competent authority of that nation, inter-governmental or international organizations;
– Names which are deceptive, misleading or which misrepresent the nature of the business;
– Such other names which in the opinion of the Director are undesirable or analogous to the above.
Once you’ve decided on the perfect name for your business, it’s time to register this with DTI!
Did you know that you can skip the long lines at the DTI office and register your name online instead? While you would still eventually need to make a trip to the DTI office to submit all your required documents to secure your Certificate of Business Registration, this definitely expedites the entire process.
Ready to register your business name? Let’s get started!
Log on to DTI’s Enhanced Business Name Registration System (bnrs.dti.gov.ph). Before you can proceed with reserving your business name, you will be required to read the Terms and Conditions, which include the aforementioned guidelines on name registration that we shared above. Click “I Accept” to proceed.
1. Under the Business Scope segment, choose the appropriate coverage of your business, which corresponds to the fees that you will be settling:
Barangay – P200.00
Municipal – P500.00
Regional – P1,000.00
National – P2,000.00
Choose this carefully and be sure to select what’s appropriate for the nature of your business, and not what’s cheapest. For example, sari-sari store owners may select Barangay, as it is unlikely that they will be expanding beyond their barangay. Product resellers may select Regional, since it is possible that they will be servicing customers in different provinces, and so on.
Moreover, your coverage will also affect future business names that are similar to yours. So if a business name is registered in the barangay, no one else in that barangay can register a similar name — but this will be fair game in other barangays. The same way that names registered regionally cannot have the same name within that particular region, while nationally registered names will prevent other similar-sounding business names across the entire country.
2. Enter your business name in the Proposed Business Name field then click “Check Name Availability”. The system will then scour through its database for similar or duplicate names. If your proposed business name has been accepted without any similar existing names, a prompt will appear with a summary of your details. To try another name, click on “Try on a Different Name”.
3. Submit other details such as the Name of the Owner, TIN Number, Address, etc. and click on “Submit”.
4. After all details have been accepted, you will be given your certification, which you should download. We also recommend printing out a hard copy, which you can take with you once you visit the DTI office. Take note of your Transaction Reference Number (TRN) Acknowledgement found in the last page of the online application form, which you will need once you settle your payment.
5. Pay your application fees. You may choose to do it online, through G-Cash, or at the DTI teller.
6. After your online registration has been completed, make sure to head to the DTI office, along with other specified requirements, within fifteen (15) working days to apply for your Certificate of Registration. Otherwise, your application will be forfeited and the reserved name will be made available.
Do you know anyone who needs this? Tag them in the comments section!
