What is Company Name Search?
SECP Company name search is the first step toward company registration. after your decision to register your business in the form of a company. As your company will have a separate legal personality, it must have a name to identify it in the business world. So start with finding a suitable SECP company name. You can find an ideal name by searching the SECP name search facility. This online facility can also be used for general name searches of SECP companies. In this article, we will learn how to choose a unique and simple yet acceptable under the law company name.
Why to Do SECP Companies Search?
Conducting an SECP company search will enable you to know if any other companies are already registered with identical or similar names. The outcome of your search will help you in finalizing a name that can easily pass SECP name availability criteria. The registrar may not approve any name which will be identical or similar to any other business of the same nature.
Law on SECP Company Name
As a general principle, you are free to choose any name for your company to identify your business. However, the Companies Act 2017 provides that the Securities and Exchange Commission of Pakistan (SECP) or the registrar may prohibit certain names. As notified by the SECP, a company may not have a name if the proposed name is:
- identical with or resemble or similar to the name of a company;
- designed to exploit or offend the religious susceptibilities of the people
In terms of section 10 of the Act, a company cannot be registered by a name that contains any word suggesting or calculated to suggest:
(a) the patronage of any past or present Pakistani or foreign head of state;
(b) any connection with the Federal Government or a Provincial Government or any department or authority or statutory body of any such Government;
(c) any connection with any corporation set up by or under any Federal or Provincial law;
(d) the patronage of, or any connection with, any foreign Government or any international organization;
(e) establishing a modaraba management company or floating a modaraba; or
(f) any other business requiring a license from the Commission.
What Name should you Choose?
As mentioned above, you can choose any name that you like for your company except for prohibited names. Therefore while doing an SECP company name search, the below-mentioned points will help you in choosing a name that suits your business in the modern world.
Choose a Unique Name
The company name is the identity of your business, therefore it should be unique; it will differentiate from others to stand out. To find a unique name you can try a combination of words so that it differs and attracts attention. For example, if you are starting a property consulting business you can use “proconsult” which is a combination of “property” and “consultant”. Further, use acronyms and descriptive words to come up with a flawless name
The name should be Easy to Remember
Your clients/customers will not be able to contact you if they do not remember the name of your company. Choose unique but easy-to-remember names.
The company name should Correspond to your Business
Though you can choose any name however it would be a better choice to have a name that corresponds to your business. This will give people an idea of your business, even without any details.
Check for Similar Domain Name
The next point of consideration while choosing a business name is the availability of a corresponding web domain. In this era of technology, digital presence is one of the fundamentals and if your business name is also your web domain, you get an edge in the digital world. People frequently use the internet to find businesses providing their required products or services. So before finalizing the proposed name of your business, check if a domain name is available.
Check Possibility of Trademark Registration
Occasionally, you can find a unique name for your company but someone may be using that name without a company; as a sole proprietor, or as a partnership. Such an instance may give rise to litigation, so it is advisable to check your name with the trademark registry also. This will help you in the registration of a trademark in Pakistan.
Avoid Using Prohibited Words
Before submitting your application to reserve a name, make sure the name does not consist of or contain any prohibited words. Any prohibited word(s) in the name will not be allowed or reserved. For guidance, SECP has issued a list of prohibited words that cannot be included in the proposed name unless it is justified.
How to do SECP Company Search for a Suitable Name?
Before applying for a name reservation on the SECP website or through the physical application, first, you need to conduct an SECP name search for the proposed name of your company at the company name search page of SECP; https://www.secp.gov.pk/company-name-search/ or https://eservices.secp.gov.pk/eServices/NameSearch.jsp
On these pages, you can check if your proposed name is available or has already been taken by someone. You can do a company name search with different criteria like “exact name, “beginning with”, “containing words” or “including the exact string”.
If upon SECP company name search, your proposed name does not appear to have been taken, it’s great news. Just move on, keeping in view the above-discussed points.
If you have taken all the steps above and have found an attractive, corresponding to your business and web domain-friendly name, you are ready to go for its reservation. Just log in to https://eservices.secp.gov.pk/ and reserve the name of your dream business in an easy step and then register your company.
Company name search is your first step in registering a company in Pakistan so that you can find a unique and registrable name for your company. SECP name search facility will allow you to find a suitable name as it will tell you if an identical or similar name is already taken or it may be available for your new company.