What is Business or Company Registration?
Giving your business an attractive and unique name is very important to cover most customers in the business. But apart from naming, registering the business name with the Government of India is the essential step next. By registering your business name, you can protect it from other users. Usually, the registration of the business or the company is done within the locality and the state where the business is being established.
Business or Company registration is an important process for establishing a business by which one can have a secure, reputed, and profitable business. This is a mandatory thing to do as it is required by law. By registering the firm, the general public will be aware of who owns the company, and other business executives will be discouraged from forming a corporation with the same structure. This Business registration is called as Incorporation of a Company or the Formation of a business in India.
Foreign Company registration is an important process for establishing a business by which one can have a secure, reputed, and profitable business. This is a mandatory thing to do as it is required by law. By registering the firm, the general public will be aware of who owns the company, and other business executives will be discouraged from forming a corporation with the same structure. This Business registration is called Incorporation of a Company or the Formation of a business.
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When Should we Register our Business Name?
Registering the Business or Company means we need to submit the business details, including the brand name, to the State Government to save it within the registry of business names. It becomes essential to register the business name in two different situations:
- In case you have decided to form a sole proprietorship, in that case, it is essential to submit the business registration with the State Government. This is the only way where we can register the sole proprietorship.
- Even if you are not fixed with what type of business form you take, still, you can register the business with the State. The registration process will save your business name for you so that others don’t take the chance of using the same name.
Types of Business Registration
In case you are about to establish LLPs, you need to contact the MCA and LLP portal www.llp.gov.in.
If you want to register your EOU, the concerned registration form must be sent or forwarded to the respective Development Commissioner and the Ministry of Commerce and Industry of the Indian Government.
The District Industries Center (DIC), or the State Directorate of Industries, is concerned with Small Business registration.
The ROC of any State is responsible for registering any private or public limited company, section-8 company, or n STPI.
Uses of Business Registration
Registering the business or the company is very important, and it holds many different uses listed below:
- One of the most important benefits is that as you register your business or company name, the chances for legal problems are very minimal.
- By registering the business, you can retain your reputation within the market as no other take the chance of using the same trademark or identity.
- It will help in great reliability within the customers, suppliers, and employees.
- Spread your brand anywhere in India.
- It will bring you the opportunity to deal with large companies.
Process of Registering Business or Company
Frequently Asked Questions
You can run your small or large business without registering, and it is entirely legal. Asolo sole proprietor or runs the company without registering but can’t legally use the organization’s name. For using the business name as an officially recognized business entity, you must register it with the local state authority and Internal Revenue Services.
The applicant must give information like details of shareholders, personal information like name, occupation, address, email, mobile number, and ID proof.
If you don’t register, your company won’t come under enforce rights under the Act, enforce rights against any third party, no proper relief, and no chance for legal action within the partners