If you want to start a new corporation either solely or with other partners, you need to register the name of the corporation in the commonwealth department and have to submit fees for the registration. This is a very important and required step to start a new business and you can’t start a corporation before you register the name. But, sometimes when you decide to start a company sometime in the future, you pick the name or names for the company right away. If you think the chosen names are very important for your business and you will need these specific names when you actually start the company, you need to reserve the names.
Brief Description of the Reservation of Multiple Corporate Names:
Reserving names for a corporation is not required by government or trading laws and regulations but this is a mandatory step to take if you think that by the time you actually start the company, someone would already have picked the names and you won’t be able to register the same names for your company. This is where you need to send a formal application to the commonwealth department and ask them to reserve a name or multiple names for your corporation. Usually when people reserve a name for their corporation, they only pick one and reserve it but it is possible that you can’t decide a specific name for your corporation and you just want some more time to decide from a list of suitable names for your company.
You should understand that it is possible that by the time you actually decide to pick a specific name and register it, someone else might have already picked it and register it for his corporation. So in order to make sure everything goes in your favor, you can just submit an application and reserve a couple of names for your corporation. In exchange, the department will require fees or charges to reserve the names and these charges depend on how many names you reserve and for how long you reserve them. Usually people only reserve the names for 6 months to 1 year but you can reserve the names for as less or as much time as you want.
Key Elements to Include in the Reservation of Multiple Corporate Names:
- Name of the owner of the corporation or names of the partners
- Names of the corporation that you want to reserve
- Details of the business that the corporation will conduct under the requested names
- Articles of corporation required by the registration department
- Date when the application is sent to the secretary of commonwealth department
- Reference number to the registration of the corporation in the notary department
- Duration for which you want to reserve the names for your corporation i.e. 6 months or 1 year
- Specific reasons to reserve that names for your corporation
- Bank voucher number for the standard reservation fees that you have submitted earlier in the bank approved by the department
Here is preview of this free Sample Corporate Name Reservation (multiple names) Application Form as fillable PDF Form,
Here is download link for this Corporate Name Reservation (multiple names) Application Form,