The establishment of a business name is a pivotal step in the journey of setting up a company, and it is subject to strict legal regulations. A business name not only serves as the identity of a company but also carries legal implications. Understanding how the business name is established in accordance with these regulations is essential for aspiring entrepreneurs and established businesses alike. In this discussion, we will delve into the intricate process of establishing a business name, shedding light on the legal requirements and considerations that shape this crucial aspect of business identity.
Question:
Is it mandatory for Limited Liability company’s name to include the phrase “một thành viên” (One Member)? Should the name be “Công ty TNHH …” or “Công ty TNHH MTV …”?
Answer:
According to Article 37, Clause 1, 2, 3 of the 2020 Law on Enterprises, the name of an enterprise is not required to include the term “Một Thành Viên” (One Member) for a single-member limited liability company: “1. The Vietnamese name of an enterprise shall contain two elements in order:
a) The type of enterprise;
b) The proper name.
2. The type of enterprise shall be “công ty trách nhiệm hữu hạn” or “công ty TNHH” for limited liability companies; “công ty cổ phần” or “công ty CP” for joint stock companies; “công ty hợp danh” or “công ty HD” for partnerships; “doanh nghiệp tư nhân”, “DNTN” or “doanh nghiệp TN” for sole proprietorships.
3. The proper name shall consist of letters in the Vietnamese alphabet, the letters F, J, Z, W, numbers and symbols.”
Therefore, the name can be “Công ty TNHH” without the need for “MTV.”
Conclusion
In conclusion, the establishment of a business name according to legal regulations is a meticulous and legally binding process. It involves adherence to specific guidelines, checks for availability, and consideration of various legal aspects. A well-chosen business name not only reflects a company’s identity but also ensures legal compliance and minimizes potential conflicts. As businesses navigate the complexities of the corporate world, understanding the nuances of establishing a business name is essential for success and for building a strong foundation within the legal framework.
HMLF is always available to offer assistance in understanding the procedures with authorities.
Harley Miller Law Firm “HMLF”
Head office: 14th floor, HM Town building, 412 Nguyen Thi Minh Khai, Ward 05, District 3, Ho Chi Minh City.
Phone number: +84 937215585
Website: hmlf.vn Email: miller@hmlf.vn
