When a corporation or a company uses a title which doesn’t include the official name(s) of the partners or owners, it is described as an assumed or fictitious name. If you want to use a fictitious or assumed name for your company, you need to apply for registration of the name in order to conduct business with the name. When the commonwealth department allows you to use a fictitious or assumed name for your company, you are provided with a contract in order to legalize the use of the name. This contract is known as the assumed or fictitious name contract.
Introduction of Grant of Right to use Name Contract:
As we have described above that when you want to run a company and conduct business with a fictitious or assumed name, you need to register for the name contract. Once you are provided with the certificate, this means that the name is registered and now you have the ownership of that specific name that you registered. Even if you have the certificate, there are certain limitations to use the name in order to conduct business i.e. you can only use the name in your state or only in one country. This is why when you want to use the name certificate outside of your jurisdictions; you need to apply for a grant or permission from the common wealth department.
Grant of Right to use Name Contract is done by sending a formal request letter to the above mentioned department and asking them to provide the permission to use the name contract for the purposes that you describe in the request. For example, you have the certificate of name for your company and you are currently conducting business in your state but as you enter in a deal with an international organization, you need to ask for permission to use the assumed name certificate for the business on outside of the state level. Once you send the application or request letter to the department with the reasons you require the permission for, it depends on the local laws and regulations if the permission will be granted or not.
Key Elements in the Grant of Right to use Name Contract:
- Introduction of the company or corporation that is using assumed name
- Date when the corporation came in existence/started its business
- Names of the owners and partners of the corporation
- Details of the issuance of assumed or fictitious name certificate by the commonwealth department
- Date from which the assumed name certificate was effective
- Precise statement by the owner or general partner of the corporation to the commonwealth department secretary for granting the right to use the assumed name for the business
- Sworn statements of all the partners asking for the permission to use assumed name
- Date when the formal request is being made with the department
- Reference number of the bank voucher for the fees and charges of grant issuance
- Signatures of the partners and owners of the corporation
Here is preview of a Free Sample Grant of Right to use Name Contract created as fillable PDF Form,
Here is download link for this Grant of Right to use Name Contract,