Online Company Name Registration In India

by Aanshika Singh Marketing & Bussiness Services

It feels like an achievement coming up with a business plan. For most startup owners, their ideas are their babies. They keep finding ways of improvising it and making it more innovative than it was before. While the owner might ace in all the other aspects related to their startup, there is one field where they face a setback- the legal formalities.

Not many company owners are too familiar with the legal aspects of running a company, and some do not even think of them as something crucial to abide by. However, this attitude can be potentially dangerous for the company as a whole in the future; hence it is important to keep all the legalities in mind before starting the company. The first step in which the legalities show up to any company owner is working around the process of new company registration.

One of the most important aspects of any business is its name. Even though it might seem like an easy task, coming up with a name for the company should not be confused with the procedure of its registration. Let us take a look at both aspects of building a company.

Coming up with the Company’s Name

Coming up with a business model takes a lot of effort, but naming it requires even more of it. There are various aspects that one has to keep in mind before coming down to one name for finalization. Here are a few points one might want to consider before they start naming their company:

● Make it short and simple. Think about all the famous and successful brands in the whole world. You would notice one similarity that is common amongst all small and catchy names. This is done keeping in mind a very simple psychological trick. If the name is short, catchy, and easy to pronounce, people would be able to connect to it better.

Whereas, if the company’s name is too long or full of complicated terms- the audience is likely to look for another alternative to this company. Since the name of the company is the first impression of the business, it must be easy to talk about.

● Speaking of first impressions, the name of the company represents the business. Hence, the name of the company should implicate the aim of the business with utmost ease. There should be no issues with the name being north and the services provided by the company being south.

The company name, in 1 to 2 words, is supposed to attract potential consumers to avail the services; hence it should be made sure that these services are accurately implied while choosing the name.

● Make sure that the name of the company is unique. A little research and effort are required for this step, but it is all worth it in the end. If there are any chances of the name of company A (which was established before) clashing with the name of company B (established much after), there are chances of legal penalties.

The advertisement for the business is done through the name of the company, and these promotional ways are quite costly. Now if there were clashes and some company had to withdraw their name and switch to another, all the money used for the advertisement for the previous name of the company would go down the drain.

To avoid such expensive consequences, it is always advisable to do a background check of the existence of the name that a company owner comes up with for their business.

Company Name Registration

The legalities around any aspect of life can be very confusing and intimidating due to its complex structures. Amateur company owners also have to go through this phase, which begins when they start with the process of company name registration. Here are a few basic steps that need to be followed in order the get the name of a company registered online:

● Obtain the Digital Signature Certificate (DSC)

● Fill out the application for the Director Identification Number (DIN)

● Check if the company name that you want is available or not

● Submitting the MoA (Memorandum of Association) and AoA (Articles of Association) of the company. The MoA contains all the fundamental details of the company, whereas the AoA contains the set of rules that the company is to abide by.

● Fill in the application of PAN (Permanent Account Number) and TAN(Tax Deduction Account Number or Tax Collection Account Number).

● After all the above steps, the Registrar of Company (ROC) would issue a certificate regarding the cooperation of PAN and TAN of the company.

Apart from the steps of the procedure that owners have to adhere to before they register a company, many documents are demanded by the Ministry of Corporate Affairs. Here is a list of such mandatory documents demanded by the ministry from the Indian directors of the company:

● copies of PAN of the company

● Voter id, passport, or driver’s license for government identification proof

● Statement from the bank

● Any bill (mobile, gas, or electricity)

● Passport-size photographs

● The director’s (specimen) signature

With so many complex procedures at every step, the company owners are usually overwhelmed about how to do something as simple as new company registration. In such cases, companies like TheStartupLab are the best to avail services from. Under the guidance of highly skilled professionals of TheStartupLab, any company owner can easily go about the legal formalities regarding the online company name registration.

The services of TheStartupLab extend to all entrepreneurs who do not wish to waste their time worrying about legalities around basic things like registering the company’s name. Hence it is advised to consult the professionals of TheStartupLab before carrying forward with the process of developing the company.