A by cathy.

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I am Cathy. I am a Certified Public Accountant and a business consultant for years. I want to share my expertise thru this blog which is intended to help people who are planning or who are already in business. The topics range from Accounting for Small Business, Cash Management, Inventory Management, Assets Management and Financing. The terminologies will be simplified for laymen and business jargons will be explained for clarity.

Friday, June 02, 2006

Applying for a Business name

1. Choose at least three business names so that in case one or two are already taken, there is one more left.

The system allows the applicant to search on-line if the proposed business is available. The final determination on the availability and suitability of the name will be made by a DTI Examiner.

2. Information required when completing a registration on-line.

2.1. Tax Identification Number (TIN)
2.2 Email address
2.3 Zip code

If the business being registered is a branch, a franchise or was acquired from previous business there is a need to provide the exact business name of the franchise, main office and/or certificate number and date of registration of the acquired business.

2.4 Other information required to complete the application form :

2.4.1 Nature of business activity/ties
2.4.2 Product/s or Services
2.4.3 Philippine Industrial Classification System (PSIC) code for the nature of the business

3.0. After the submission of the application, it is going to be reviewed by a DTI Business examiner for completeness.

A transaction Reference Number acknowledgement Form has to be returned to DTI so that registration is completed.

4. Pay your Application

The completed application and correct fee is paid at the DTI office indicated in the transaction reference number (TRN) acknowledgment form.

Thursday, June 01, 2006

Registration and Business Licensing

The first step in putting up a business is to register the business name for the purpose of creating an identity. In the United States, fictitious names are registered with the county as well as the State Department if the business is going to be incorporated.

In the Philippines, registration is made at the Department of Trade and Industry thru its Business Name and Registration System.

The following are the services offered by the system:

1. Business Name Search

A search of the business name database can help reveal any registered or pending business names which are identical or similar to your proposed business name.

Until the processing is completed, the name is not guaranteed to be available.

2. Application for a business name

2.1 The business name should describe the nature of the business.
Ex. ABC Restaurant, Libro Book Store, MYR Manufacturing Co.

2.2 It should be comprised solely of any or all of the letters, numerals and punctuation that are part of the English and Filipino Language.
Ex. ARC Veterinary Equipment Co. Inc.

2.3 There are names which are not acceptable and these are the following:

2.3.1 Those which are or whose nature of business are illegal, offensive, scandalous, or contrary to propriety.

2.3.2 Those which are identical or nearly resemble business names already registered with the Department of Trade and Industry, the Securities and Exchange Commission (SEC), Cooperative Development Agency (CDA), Department of Labor and Employment (DOLE) or any other government office authorized by law to register names, because these are likely to cause confusion or mistake in the minds of the public and prejudice the interest of the owner of the registered business name or firm name taking into consideration the following: nature of the business
ex. Jollybee for a fastfood restaurant product/service handled
ex. National Books and Magazines Store for a bookstore location/place of the business
ex. ABC Internet Cafe which is going to be located near SBC
Internet Cafe capitalization
*Frankly, I do not see why this should be a basis. general appearance, spelling, sound and meaning
Ex. MACDONALDS which sounds like MC DONALD'S use of dominant/descriptive words and
Ex. BICTORIA LYPOSUCTION CENTRE such other factors as maybe determined by the BTRCP Director

2.3.3 Names composed purely of generic words;

2.3.4 Names which by law or regulation cannot be appropriated;

2.3.5 Names, words, terms, or expressions used to designate or distinguish, or suggestive of quality of any class of goods, articles, merchandise, or service;

2.3.6 Names or styles used by the government in its governmental functions;

2.3.7 The names or abbreviation of names, of any nation, inter-governmental or international organization unless authorized by the competent authority of that nation, inter-governmental or international organizations;

2.3.8 Names which are deceptive, misleading or which misrepresent the nature of the business;

2.3.9 Such other names which in the opinion of the Director are undesirable or analogous to the above.