Finally, a worthwhile government initiative with respect to reducing red tape for small business. For many years registering a business name has been handled through state agencies (in NSW, currently the Office of Fair Trading).
From 28 May 2012 the process will be streamlined and managed nationally through ASIC, which will establish and oversee a national business name database, as well as handling all Australian business names applications and renewals.
For the business name owner this means that once registered, an Australian-wide (rather than state-wide) registration will result; if nothing else it will substantially reduce the registration/renewal fees applicable.
Of course, as always, business name registrations provide a limited and less fulsome “protection” for the registered name owner – certainly less than for a company name or a trademark, for example.
Existing business name registrations will be migrated by the state agencies to the ASIC Register.
Contact a member of the Atkinson Vinden commercial team if you have any questions or concerns about business or company names, trademarks or intellectual property issues.