Company Registration: What It Is and Why It's Important for a Business
A business separates itself from the competition by creating a unique brand name that is highly recognised by consumers. It is one of the most important factors of a business' success and that is the reason why company registration is such as crucial part of any start-up company. This article outlines the benefits of company registration and why it is a necessity for businesses in Australia.
Many business owners work hard to build their empire into what it is today, but everyone goes through a different journey and each entrepreneur has varying starting points. Every person is motivated by different reasons and it only takes one moment of clarity to realise that their entrepreneurial dreams can be realised through proper planning and hard work.
Even rock star entrepreneurs like Richard Branson and Steve Jobs had to start somewhere. Sir Branson kicked off Virgin in the crypt of a church, and everyone knows the legendary story behind Apple's first headquarters in the garage of Steve Jobs' parents' house.
We have read, heard and some may have even watched the story of the two great business innovators behind these multi-billion dollar corporations. However, besides having great product and immaculately executed marketing strategies, there is one thing that separates the two businesses from the rest...branding. More specifically, the legal protection of their brands!
Simply registering a business name does not give an organisation any ownership or exclusive rights to the name. Plus, it won't stop competitors from using the registered name for trading purposes. More importantly, a business name registration does not protect the company from any legal liabilities in intellectual property infringement cases. Now, imagine if Virgin and Apple didn't have any legal ways to protect their brand, both these companies would probably be out of commission by now or at least suffered millions of dollars in losses.
This is where Online Company Registration steps in. It's a common misconception that company and business name registration are one and the same thing...they are not! Company registration has numerous legal advantages and it is definitely one of the simplest ways to legally protect an organisation.
Well, once a business has registered the company name with the Australian Securities and Investments Commission (ASIC), they hold the advantage of having exclusive rights to operate anywhere in Australia with that trading name. That means that no one can legally trademark, copy or use that company name after it has been registered with ASIC.