Name that Corp
(SEC Guidelines on the Use of Business Names)


The SEC recently released their latest Guidelines and Procedures on the Use of Corporate and Partnership Names (in particular, SEC Memorandum Circular No. 5, Series 2008, dated July 17, 2008). The provisions of said MC are discussed below.

Even if you have all the documents ready such as the Articles and By-laws, you cannot proceed without an available name. Aside from being a legal requirement, a name can be important for branding purposes, to set apart the service or activity for which your company will be known for.

Must Haves

In applying for approval of your business names, the following terms are required:


  • the corporate name must contain " corporation”, “incorporated”, “corp.” or inc.”
  • a partnership name must contain "company” or “co.”. If a limited partnership, “Limited” or “Ltd.”. And if a professional partnership, "company”, “associates” or “partners”, or other similar descriptions (say, bros.)
  • a foundation must include “foundation” in its name.


The Circular doesn’t specify but the terms above are expected to be attached at the end of the entities’ names. Try not to test the SEC Legal Division with a name like “The Corporation of XYZ”, unless you have plenty of days to argue your choice and more days to wait for the decision.

And one other ‘must have’ is that 1 business must have only 1 business name.
xxx
Read more from the Legally Inclined Blog.