Every business has a legal name that appears on documents of constitution of the same, which allows it to be differentiated from another. You want to know more? Keep reading!
doWhat is a Company Name?
The name of a company will appear in the statutes and constitutive document, identifying the natural or legal person, and to the community that represents that company; using administrative, formal and legal levels.
That is, this name (call it a business name or denomination) with which a company is identified, may appear on stationery or in advertisements, or in its defects can be solely and exclusively for administrative use.
Notably the company name is different from the trade name of the company; the latter is the one used to make the company known to consumers, for example: PepsiCo Inc and the product is PEPSI, while the company name is intended to differentiate your brand in the legal and administrative field, for example: modest group.
We have to know that in many countries, the registration of a company name varies depending on the laws from each of them.
At the same time, it is a meticulous task to justify the originality of the name, so when using an already registered name it is punishable by law, and whoever incurs this crime will be subject to legal and legal sanctions for the rights of third parties as soon as to the name property.
On the other hand, if you want to make changes in the company name, must go through a review, control and documentation process; since changing the name of a company can affect the assets and capital of third parties.
A clearer example would be the following: The name of a brand is “Dulces Mariita” and the company name is “MariiDulce SA”, the brand name is different from the company name.
In this example, if you went to court, this would be done to “MariiDulce SA” and not to “Dulces Mariita”.
What are the types of Company Name?
There are different companies and businesses in Mexico, classified by company name. Composed of partners who are related because they have assets, each of these assumes a responsibility that will yield benefits.
Next we will mention six (06) types of company name:
- When the company name is defined with the name of a partner or more and «and company» is added. The duties of the partners depend on the commitment contracted by the company. It must have at least two partners, it is called a Company in Collective Name.
- If on the contrary. It is understood by people whether moral or physical, who come together in search of profit and fulfill a common goal. In this case there are two types of limited and limited partners; the former have unlimited commitments, while the latter their commitments depend on the position and their contributions, this company is called Limited Partnership (S. in CS).
- It is formed by one or more limited shareholders. The capital of this company must be greater than fifty thousand pesos ($50,000.00), this company model is defined as Limited Partnership by Shares (S. en C. por A.).
- The capital contributed by the partners limits the commitment from each of them. It was born with the intention of ending the claims and limitations of a corporation, commonly called a Limited Liability Company ((S. de RL).
- Limited Company (SA): The owners make their contributions to the capital through shares or titles, and solve their adversities with the same contributed capital.
- Cooperative Society (SC): It has a changing initial capital, its partners adhere voluntarily.
Every company since its inception, must have a business name or name, and this is nothing more than the name and surname with which the person identifies.
For a business name of a company to have the authorization It must necessarily have the endorsement of the Ministry of Economy, through a notary who is the one who requests the authorization before making the constitutive documentation of the same.
If you want to get this authorization of the use of the name of a company, through this portal.
The Ministry of Economy, improving services and with the intention of providing more efficiency, has updated the site to request company names.
You must take into account that to make this request You must have your advanced electronic signature, if you do not have it, a link is shown so that you know everything related to it and what you will need to process it: Click here.
What are the requirements to request the e.signature?
- A removable memory drive containing the required file (.req) previously generated by Certifica.
- Provide email staff.
- present the Application for Certificate of e.signaturethrough the official form FE.
- have CURP.
- Original and copy of the certified naturalization letter in case of being naturalized Mexicans, validated by entities with competence in the subject.
- Whether If you are a foreigner, you only need to present the document that guarantees migratory quality.
- On the other hand, if you are a taxpayer who obtained your RFC through the SAT, you have to show the original of the proof of fiscal domicile.
- Submit original and valid identification of the taxpayer.
What are the documents needed?
No document is required, however it is necessary to have your e.signature
How much is the cost of the procedure?
This procedure is completely free.you will not cancel anything at all, since most of the procedure will be done by yourself through the internet and from the page of the Secretary of Economy.
- Must be enter the link and complete the required information.
- You click on accept terms and Conditions.
- Then you proceed to request name or company name.
- Approximately 48 hours, you will get an answer.
- You will have to sign and authorize with the electronic signature (e.firma).
- You will be able to print the proof of authorization of the reason Social.
- Then you can take it to the notary to start the process of writing the articles of incorporation of your company.
To carry out this procedure, You only have to go to the offices of the Secretary of Economy, located in the Insurgentes Tower, in the General Directorate of Regulations located in Insurgentes Sur 1940, 1st floor, Col. Florida; in the Delegation of Obregón CP 01030, in Mexico City, whose office hours are from Monday to Friday from 9:00 am to 02:00 pm.
As well as you can request, or make the notice of use of company name in the delegations or Subdelegations of the Ministry of Economy.
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