Enhance Brand value with company name change
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Know about a company name change
A company’s name is often changed at any time after its incorporation. It being an entity regulated by law, it’s to follow a selected process provided by the businesses Act, 2013. the method includes conducting committee meetings and member’s meetings for his or her respective consent, which can be followed by name reservation and approval from Central Government for said change. Fresh Certificate of Incorporation is going to be issued by RoC in the new name after updating the Register of Companies. the corporate name change doesn’t impact the existence of the corporate, which leaves all the assets and liabilities unaffected.
Why change a company name?
- Voluntary Change: The directors or the shareholders may voluntarily plan to change the business name mutually for any justified reason. Names are often wont to reflect the vision or any characteristic of the corporate. to form the name relatable and straightforward for the buyer also can be a reason to vary business name.
- Change in Business Objective: Change within the name could also be required thanks to the change of business objective. If the name doesn’t truly reflect the altered objective, it is often changed in line with the target. the corporate must apply for a change if the Registrar has directed to try to so in such a case.
- Enhance Brand Value (Rebranding): Name assumes the brand value of the corporate and intention to enhance the brand value is usually a reason to vary the name. Also, industries where trends change over a period of your time, an appropriate name are often chosen to be in line with the trend and make a definite identity. Change of name can convince be an honest marketing strategy to reinforce brand value.
- Discard boundaries assumed by name: By use of words representing countryside or offerings, the name defines the boundary of operations. Expansion by capturing wide market includes demands removing boundaries assumed by the name. Further, if the name has become irrelevant to products or services offered it must be changed to focus on the proper audience.