Hi! Yes, you don't need to be trading before you form a limited company. In fact some people form a company with no intention of ever trading just to reserve the company name. Regarding tax, you may find this blog post helful: www.1stformations.co.uk/blog/file-company-tax-return/
@@sarahbunga2685 No problem at all. You can register directly with Companies House - alternatively you can use a company formation agent (such as us here at 1st Formations!). We offer a number of different packages - including one dedicated to reserving the company name - take a look at the below link and please do let us know if you have any further questions: www.1stformations.co.uk/compare-packages/
As I am starting my own business, I just wana protect my brand name so I can sell goods. Do I need to register to limited companies and trademark? I feel like trademark is my answer
Hi Cherry, Unincorporated businesses have limited protection with regard to their chosen business name. Whether they are using their own given name(s) or a trading name, anyone else can set up a business and trade under the same name(s). The law of passing off can offer some assistance, and registering a trade mark (see below) provides more comprehensive protection; however, it is more common for businesses to form a limited company to protect their chosen name. Registering a trade mark is another way to protect a business name. A trade mark provides the owner with exclusive rights to market or sell goods and services using this trade mark, and the right to prevent others from using the same or similar marks to market their products. I hope this helps! What will your business be doing, Cherry?
Thanks for the question. I'm afraid that isn't a service that we offer. However, we have written a blog on the subject that may be of some use: www.1stformations.co.uk/blog/guide-registering-trade-mark-uk/
This is really important content which so many companies and business owners will appreciate! Huge thanks for explaining it so well Nicholas!!
We're glad you think this video is helpful, Sam.
Such helpful advice, good work 1st Formations!
Glad you found it useful, Priscila.
Really useful for sole traders, cheers.
Yes, we feel this is valuable information for sole traders. Thanks John.
Thank you Nick for another excellent episode of Whiteboard Thursday.
Glad you enjoyed it Graeme.
Thank you, really helpful, well explained
Pleased you found the video useful, Nick.
This is very educational, never knew how passing off works!
Thanks Peter - yes, passing off is a little known topic which we think is very important that businesses understand.
Cheers man, always great content!
Thanks for your kind words Tommaso.
Third option is the best: trademark protection
Thanks Reza - yes, trade mark protection is vital to ensure these are not used nefariously by competitors!
Amazing Nick - a lot of beneficial information as always!!
Many thanks for your kind comment Annalise!
This is brilliant. I have heard horror stories of passing off and this video is fantastic for individuals at different stages of business
Thank you Precious. Yes, we feel passing off is a little known part of UK company law which can be very costly.
Great content Nicholas! keep it up I’m loving the series 😍
We're glad you are enjoying the series, James.
Can you secure your business name on company house even if you just started and not making consistent sales as yet will i be taxed ?
Hi! Yes, you don't need to be trading before you form a limited company. In fact some people form a company with no intention of ever trading just to reserve the company name. Regarding tax, you may find this blog post helful:
www.1stformations.co.uk/blog/file-company-tax-return/
Aww thank you soo much for this. Can i reserve my company name via company house right on the governments website is there a fee to register
@@sarahbunga2685 No problem at all. You can register directly with Companies House - alternatively you can use a company formation agent (such as us here at 1st Formations!). We offer a number of different packages - including one dedicated to reserving the company name - take a look at the below link and please do let us know if you have any further questions:
www.1stformations.co.uk/compare-packages/
Good information to know.
Glad you found it informative, Paul.
Great video! Very interesting
We're glad you enjoyed this video, Philip. If you have any other topics you would like us to cover, just leave a comment and we'll see what we can do!
As I am starting my own business, I just wana protect my brand name so I can sell goods. Do I need to register to limited companies and trademark?
I feel like trademark is my answer
Hi Cherry,
Unincorporated businesses have limited protection with regard to their chosen business name. Whether they are using their own given name(s) or a trading name, anyone else can set up a business and trade under the same name(s).
The law of passing off can offer some assistance, and registering a trade mark (see below) provides more comprehensive protection; however, it is more common for businesses to form a limited company to protect their chosen name.
Registering a trade mark is another way to protect a business name. A trade mark provides the owner with exclusive rights to market or sell goods and services using this trade mark, and the right to prevent others from using the same or similar marks to market their products.
I hope this helps! What will your business be doing, Cherry?
Interesting :) thanks for sharing!
Thanks for watching, Saba!
PS. I always remember Granada TV taking Granada Heating and Plumbing to court for passing off. The plumbers won!
Yes, passing off is very tricky to win in court, but it can be done. Is this something which you have had to deal with?
Just curious - Your thoughts on what the possibilities are of a future brand still to come that will top big giants like Amazon & Appel?
Not sure, what do you think?
@@1stformations I wouldn't be asking if I was not confident. The time for a new meaningful brand to enter the market is overdue.
@@Skiglwash Great. Are you involved with Amazon & Appel?
Do 1stformations provide trademark protection?
Thanks for the question.
I'm afraid that isn't a service that we offer. However, we have written a blog on the subject that may be of some use:
www.1stformations.co.uk/blog/guide-registering-trade-mark-uk/
good
We ae so glad you enjoyed our video! Have you checked out our latest video ruclips.net/video/z6mXoWOsYi0/видео.html ?