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Tips For Getting Your Business Name Approved With CAC by foxychev(m): 8:50pm On Sep 24, 2016
Name Availability search is the first step to take when you want to register your business with Corporate Affairs Commission (CAC), whether it is an enterprise, limited liability company (Ltd or Plc), or a non-profit organization like NGOs or churches.
First let me give you possible reasons why your proposed business name may be rejected at the CAC:
1. Names that are ambiguous or unclear, or confusing. Names that can confuse the public about the nature of your business, or awkward combination of words. E.g. Johnson Enterprises Company; or Johnson Motors and Health Ltd.
2. Use of reserved names like Johnson Chamber of Commerce, or John Department of Agriculture.
3. Use of names that are closely similar to that of existing registered companies with the CAC. For instance, you cannot use a name like "Dangots Sugar Ltd", because you know quite well that there is an existing company called "Dangote Sugar Plc". People can easily confuse those two names together.
Well, it is obvious we all know "Dangote Sugar", but there are thousands of registered companies we don't know about, and if we try to reserve a name close to theirs, it will be rejected by CAC.
Can we see the list of all registered companies in Nigeria before choosing our own name? Yes, but not practicable!
So what do we do?
Here are some tips to assist you in selecting a good business name that flies at the CAC Name Availability Search...
1. Be creative, very creative.
Some names are common and can be easily thought of. If you are thinking of using "Amazing Grace Nigeria Ltd", that is an easy name to come by! You can be certain that there will be existing companies having one or both words in their names. Think of unique words.
2. Explore other Languages.
For instance, if you are a fan of French or Spanish, or your native language, you can simply translate common words into them. You have a higher chance of getting your name reserved. For instance, you can translate "Red" into "Rouge" (French), or "Colorado" (Spanish).
3. Combine words that are rarely used together.
Everyone knows “Amazing Grace” are two words that are used together most of the time. “Abundant Grace” won’t be a good choice either. But if we say something like “Colossal Grace” we stand a better chance.
4. Combine more words (Don’t exceed 5 words!).
The reason for this is to reduce the chances of having closely similar words with the names of other companies. For instance, suppose we have “Johnson Nigeria Limited” already registered and we love the name Johnson so much that we don’t want to drop it or interpret it into another language. CAC may reject “Johnson Engineering Ltd”, or “Johnson Electrical Ltd”. But if we have two additional words different from those of the existing one, we can get ours approved. So if we choose “Johnson Engineering Services Ltd”, we will likely get an approval.
5. Specialize your business name
Let the nature of your business reflect in the name. E.g. adding suffixes like Engineering, Publishing, Health Services, Business Solutions, Farms, etc. will help you to distinguish your company name from others baring similar names but are into different natures of business, and consequently get an approval. Now, assuming “Johnson Nigeria Limited” and “Johnson Engineering Services Ltd” are registered, and we are into publishing, we can use “Johnson Publishing House Ltd”. It will likely get approved.
6. Google up your intended name.
Many businesses are creating online presence via corporate websites, blogs, online business directories, social media pages, etc. If you Google search your proposed name, you might come across an existing company with similar name. This will help you to fine tune yours further.
7. Be flexible, don’t be obsessed with a particular name.
I have seen people do like 5 name searches, and still don’t get an approved name. That is like 10 rejected names, since they have two options for each search! Being flexible will allow you to follow advices 1 to 6 above, thereby saving you money, energy and time expended on multiple searches.
Note that CAC has the right to approve or reject any name, based on their discretion. But a well thought of, unambiguous name will get you an approval.
Finally, seek advice from friends, family and professionals. Don’t be alone.
Contributions are welcome, please.
Drop a reply if you need additional help…


****

61 Likes 18 Shares

Re: Tips For Getting Your Business Name Approved With CAC by lekejob(m): 10:43pm On Sep 24, 2016
thanks
Re: Tips For Getting Your Business Name Approved With CAC by veekid(m): 6:37am On Sep 25, 2016
Nice piece
Re: Tips For Getting Your Business Name Approved With CAC by Nutase: 6:38am On Sep 25, 2016
Thanks
Re: Tips For Getting Your Business Name Approved With CAC by braine(m): 6:40am On Sep 25, 2016
Or better still, you can simply browse for registered names online on CAC public search so you'll see if the name you want has been taken. It'll save you much stress and money. I found it handy when registering so I was able to select a fresh name quickly. cool

16 Likes 2 Shares

Re: Tips For Getting Your Business Name Approved With CAC by Northmall(m): 6:40am On Sep 25, 2016
Same way we come up with domain names for online businesses.
Re: Tips For Getting Your Business Name Approved With CAC by gradeA(m): 6:41am On Sep 25, 2016
ok. noted.
Re: Tips For Getting Your Business Name Approved With CAC by onome710(m): 6:43am On Sep 25, 2016
I'm on the verge of registering my company name... not an easy task to get a name that ain't taken.
I finally got one. Now I'm on the logo stage. Still playing with ideas for that...
Re: Tips For Getting Your Business Name Approved With CAC by kaen1317: 6:44am On Sep 25, 2016
It's not about business name, its about how to get a business running in a depressed recessed economy

8 Likes

Re: Tips For Getting Your Business Name Approved With CAC by don4real18(m): 6:45am On Sep 25, 2016
Yahoo Money Nigeria Ltd

4 Likes 1 Share

Re: Tips For Getting Your Business Name Approved With CAC by nonjebose(m): 6:45am On Sep 25, 2016
Nairatouch investment company, a subsidiary of Grandnaira Group, lol

1 Like

Re: Tips For Getting Your Business Name Approved With CAC by Tolubory(m): 6:47am On Sep 25, 2016
foxychev:
Name Availability search is the first step to take when you want to register your business with Corporate Affairs Commission (CAC), whether it is an enterprise, limited liability company (Ltd or Plc), or a non-profit organization like NGOs or churches.
First let me give you possible reasons why your proposed business name may be rejected at the CAC:
1. Names that are ambiguous or unclear, or confusing. Names that can confuse the public about the nature of your business, or awkward combination of words. E.g. Johnson Enterprises Company; or Johnson Motors and Health Ltd.
2. Use of reserved names like Johnson Chamber of Commerce, or John Department of Agriculture.
3. Use of names that are closely similar to that of existing registered companies with the CAC. For instance, you cannot use a name like "Dangots Sugar Ltd", because you know quite well that there is an existing company called "Dangote Sugar Plc". People can easily confuse those two names together.
Well, it is obvious we all know "Dangote Sugar", but there are thousands of registered companies we don't know about, and if we try to reserve a name close to theirs, it will be rejected by CAC.
Can we see the list of all registered companies in Nigeria before choosing our own name? Yes, but not practicable!
So what do we do?
Here are some tips to assist you in selecting a good business name that flies at the CAC Name Availability Search...
1. Be creative, very creative.
Some names are common and can be easily thought of. If you are thinking of using "Amazing Grace Nigeria Ltd", that is an easy name to come by! You can be certain that there will be existing companies having one or both words in their names. Think of unique words.
2. Explore other Languages.
For instance, if you are a fan of French or Spanish, or your native language, you can simply translate common words into them. You have a higher chance of getting your name reserved. For instance, you can translate "Red" into "Rouge" (French), or "Colorado" (Spanish).
3. Combine words that are rarely used together.
Everyone knows “Amazing Grace” are two words that are used together most of the time. “Abundant Grace” won’t be a good choice either. But if we say something like “Colossal Grace” we stand a better chance.
4. Combine more words (Don’t exceed 5 words!).
The reason for this is to reduce the chances of having closely similar words with the names of other companies. For instance, suppose we have “Johnson Nigeria Limited” already registered and we love the name Johnson so much that we don’t want to drop it or interpret it into another language. CAC may reject “Johnson Engineering Ltd”, or “Johnson Electrical Ltd”. But if we have two additional words different from those of the existing one, we can get ours approved. So if we choose “Johnson Engineering Services Ltd”, we will likely get an approval.
5. Specialize your business name
Let the nature of your business reflect in the name. E.g. adding suffixes like Engineering, Publishing, Health Services, Business Solutions, Farms, etc. will help you to distinguish your company name from others baring similar names but are into different natures of business, and consequently get an approval. Now, assuming “Johnson Nigeria Limited” and “Johnson Engineering Services Ltd” are registered, and we are into publishing, we can use “Johnson Publishing House Ltd”. It will likely get approved.
6. Google up your intended name.
Many businesses are creating online presence via corporate websites, blogs, online business directories, social media pages, etc. If you Google search your proposed name, you might come across an existing company with similar name. This will help you to fine tune yours further.
7. Be flexible, don’t be obsessed with a particular name.
I have seen people do like 5 name searches, and still don’t get an approved name. That is like 10 rejected names, since they have two options for each search! Being flexible will allow you to follow advices 1 to 6 above, thereby saving you money, energy and time expended on multiple searches.
Note that CAC has the right to approve or reject any name, based on their discretion. But a well thought of, unambiguous name will get you an approval.
Finally, seek advice from friends, family and professionals. Don’t be alone.
Contributions are welcome, please.
Drop a reply if you need additional help…


****
Am Enlightened....
Oooooshey............

1 Like

Re: Tips For Getting Your Business Name Approved With CAC by PapiDShipCapt(m): 6:49am On Sep 25, 2016
I only read this post because I have the plan of setting up a company in the nearest future. So help me God. smiley

thanks for the insight @OP

3 Likes

Re: Tips For Getting Your Business Name Approved With CAC by speedyconnect3: 6:57am On Sep 25, 2016
foxychev:
Name Availability search is the first step to take when you want to register your business with Corporate Affairs Commission (CAC), whether it is an enterprise, limited liability company (Ltd or Plc), or a non-profit organization like NGOs or churches.
First let me give you possible reasons why your proposed business name may be rejected at the CAC:
1. Names that are ambiguous or unclear, or confusing. Names that can confuse the public about the nature of your business, or awkward combination of words. E.g. Johnson Enterprises Company; or Johnson Motors and Health Ltd.
2. Use of reserved names like Johnson Chamber of Commerce, or John Department of Agriculture.
3. Use of names that are closely similar to that of existing registered companies with the CAC. For instance, you cannot use a name like "Dangots Sugar Ltd", because you know quite well that there is an existing company called "Dangote Sugar Plc". People can easily confuse those two names together.
Well, it is obvious we all know "Dangote Sugar", but there are thousands of registered companies we don't know about, and if we try to reserve a name close to theirs, it will be rejected by CAC.
Can we see the list of all registered companies in Nigeria before choosing our own name? Yes, but not practicable!
So what do we do?
Here are some tips to assist you in selecting a good business name that flies at the CAC Name Availability Search...
1. Be creative, very creative.
Some names are common and can be easily thought of. If you are thinking of using "Amazing Grace Nigeria Ltd", that is an easy name to come by! You can be certain that there will be existing companies having one or both words in their names. Think of unique words.
2. Explore other Languages.
For instance, if you are a fan of French or Spanish, or your native language, you can simply translate common words into them. You have a higher chance of getting your name reserved. For instance, you can translate "Red" into "Rouge" (French), or "Colorado" (Spanish).
3. Combine words that are rarely used together.
Everyone knows “Amazing Grace” are two words that are used together most of the time. “Abundant Grace” won’t be a good choice either. But if we say something like “Colossal Grace” we stand a better chance.
4. Combine more words (Don’t exceed 5 words!).
The reason for this is to reduce the chances of having closely similar words with the names of other companies. For instance, suppose we have “Johnson Nigeria Limited” already registered and we love the name Johnson so much that we don’t want to drop it or interpret it into another language. CAC may reject “Johnson Engineering Ltd”, or “Johnson Electrical Ltd”. But if we have two additional words different from those of the existing one, we can get ours approved. So if we choose “Johnson Engineering Services Ltd”, we will likely get an approval.
5. Specialize your business name
Let the nature of your business reflect in the name. E.g. adding suffixes like Engineering, Publishing, Health Services, Business Solutions, Farms, etc. will help you to distinguish your company name from others baring similar names but are into different natures of business, and consequently get an approval. Now, assuming “Johnson Nigeria Limited” and “Johnson Engineering Services Ltd” are registered, and we are into publishing, we can use “Johnson Publishing House Ltd”. It will likely get approved.
6. Google up your intended name.
Many businesses are creating online presence via corporate websites, blogs, online business directories, social media pages, etc. If you Google search your proposed name, you might come across an existing company with similar name. This will help you to fine tune yours further.
7. Be flexible, don’t be obsessed with a particular name.
I have seen people do like 5 name searches, and still don’t get an approved name. That is like 10 rejected names, since they have two options for each search! Being flexible will allow you to follow advices 1 to 6 above, thereby saving you money, energy and time expended on multiple searches.
Note that CAC has the right to approve or reject any name, based on their discretion. But a well thought of, unambiguous name will get you an approval.
Finally, seek advice from friends, family and professionals. Don’t be alone.
Contributions are welcome, please.
Drop a reply if you need additional help…


****
@Op, when are annual returns paid for Business names?

1 Like

Re: Tips For Getting Your Business Name Approved With CAC by Okaakoko(m): 7:00am On Sep 25, 2016
wonderful!
Re: Tips For Getting Your Business Name Approved With CAC by eleojo23: 7:01am On Sep 25, 2016
I have a question.

Does one have to renew the business name yearly?
If yes, what is involved in renewal?

1 Like

Re: Tips For Getting Your Business Name Approved With CAC by Ugogenius(m): 7:18am On Sep 25, 2016
Kudos, serching
Re: Tips For Getting Your Business Name Approved With CAC by J0nyb0y(m): 7:19am On Sep 25, 2016
Interesting... Pls can you also write on the steps in registering the name and how much it costs now?

1 Like 1 Share

Re: Tips For Getting Your Business Name Approved With CAC by justmhe: 7:19am On Sep 25, 2016
what is the CAC website
Re: Tips For Getting Your Business Name Approved With CAC by PerfectlyPerfect(m): 7:22am On Sep 25, 2016
Una no dey go church??!! shocked shocked

1 Like

Re: Tips For Getting Your Business Name Approved With CAC by falansa: 7:32am On Sep 25, 2016
Nice thread... Can someone give us a breakdown of the best, fastest and cheapest way of registering with CAC?
Re: Tips For Getting Your Business Name Approved With CAC by personal59: 7:34am On Sep 25, 2016
Good

But they need to place churches under enterprise nd remove it from non-profitable organization

1 Like

Re: Tips For Getting Your Business Name Approved With CAC by sweetilicious(f): 7:35am On Sep 25, 2016
Op
Re: Tips For Getting Your Business Name Approved With CAC by Peacefultosin: 7:35am On Sep 25, 2016
eleojo23:
I have a question.

Does one have to renew the business name yearly?
If yes, what is involved in renewal?


You don't have to. What is mandatory is the filling of taxes with relevant authorities.
Re: Tips For Getting Your Business Name Approved With CAC by foxychev(m): 7:48am On Sep 25, 2016
speedyconnect3:

@Op, when are annual returns paid for Business names?

At the end of every financial year, I.e from the date of commencement of the business.
Re: Tips For Getting Your Business Name Approved With CAC by foxychev(m): 7:50am On Sep 25, 2016
justmhe:
what is the CAC website
cac.gov.ng
Re: Tips For Getting Your Business Name Approved With CAC by JideTheBlogger(m): 7:56am On Sep 25, 2016
braine:
Or you can simply browse for registered names online on CAC public search so you'll see if the name you want has been taken. It'll save you much stress and money. I found it handy when registering so I was able to select a fresh name quickly. cool

Thank you!
Re: Tips For Getting Your Business Name Approved With CAC by ejembi28(m): 7:59am On Sep 25, 2016
But how much does it cost to register a business name, as seen from my signature below ,.
Re: Tips For Getting Your Business Name Approved With CAC by cydophobia(m): 8:04am On Sep 25, 2016
@ foxy

Thanks for your contribution.
I did an NGO registration,name reservation was approved and publications was done on national dailies.To my suprise CAC rejected the name at the point of issuing certificate.
I was told to bring another name and start the process all over again.

Can you suggest what could have caused the denial of the name.

Thank you.
Re: Tips For Getting Your Business Name Approved With CAC by foxychev(m): 8:07am On Sep 25, 2016
falansa:
Nice thread... Can someone give us a breakdown of the best, fastest and cheapest way of registering with CAC?

Check out the is thread for better understanding of the Business registration process:
https://www.nairaland.com/2549756/business-registration-nigeria-demystified

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