The new National Business Names Registration System is expected to commence on 28 May 2012 and will replace the existing state based system.
The Hosted Accommodation Australia code of conduct requires its full members to register their business names. The registration of a business name protects the holder against the use of that name by anyone else within their state, but not from registration of the name in other states or territories of Australia.
At present business names are registered with a state government authority. From 28 May 2012 a new national registration system will replace the current system and will be administered ASIC. This alert has been provided by Madgwicks, a law firm with an interest in the tourism industry.
Names currently registered on the state based system will be automatically migrated to the new system. If a business name is identical to a business name registered in another state but owned differently, both names will be migrated, and ASIC will provide additional information on the public register to differentiate the affected business names. After the 28th May only one business name will be pemitted for registration. An ABN, or proof of application for an ABN, will be required for new registrations.
If you have not registered your business name or have failed to renew the registration you may be at risk. A new owner of the name may object to your continued use of the name and you will need to change all your promotional content, signage and website. You have only until 28 May to take action.
Fuller details of the new system are provided on this E-ALERT
from Madgwicks Lawyers.