Determining the name of the company – how hard it is?

Determining the name of the company – the hardest step in setting up a business?

Shareholders usually say that to determining the name of the company is the most difficult part when they open a limited liability company (Ltd). Why is that? First, it is necessary to choose a unique name that represents company in the market and identifies the company’s activity. However, the AJPES company register must not have the same or a similar company name of an already registered company. Moreover, Chapter 2 of the Companies Act (ZGD-1) lays down detailed rules on the conditions determining the name of a company. Does this interest you? Do you want to know more about company registration in Slovenia? Just call us on +386 40 530 718 (Viber/WhatsApp) and we will be happy to help you!

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Determining the name of the company – what does ZGD-1 say?

So, determining the name of the company means that we talk about a company name under which it does business. In essence, there are some rules that the founders must follow:

• The company name must have a designation that indicates company’s activity.
• Name may have elements which identify the company (avoid names that can cause confusion)
• The name of the firm must not have the names or emblems of foreign countries or international organizations.
• The word Slovenia in all its conjugations and adjectives can be into the company name only with the permission of the Government of the Republic of Slovenia.
• The name and surname or pseudonym of a historical or other famous person may be entered in the company name only with his or her permission; if he or she is deceased, with the permission of his or her spouse and relatives up to the third knee in the line of descent, and of his or her parents, if they are still alive.
• The company name must not contain words or characters that are contrary to law or morality;  have trade marks or signs which enjoy protection under the rules that govern trade marks; or
  have or imitate official signs.
• A company must use its business name in the form in which it enters in the register.
• A company may also use an abbreviated name and indication that makes it different than other companies
• The abbreviated name must be registered in the register.

Do you find this helpful? Do you have a name idea? Still not sure how to choose the name of the company? Contact us! Our experts offer complete support! Just call us on +386 40 530 718 (Viber/WhatsApp) and we will help you determine the name of the company in no time!

You can use letters that are not in the Slovenian alphabet

Given that, we see that there are some specific rules that you need to follow. With attention to international companies, since 2015 you can use letters that are not in the Slovenian alphabet. However, the founder must be careful that the name is different than the names of the companies in the AJPES register. In any case, the law states that:

• The name that identifies the name and the activity of the company must be in Slovenian language
• The foreign language translation can be used only together with the Slovenian language company name.
• Other components of the company name can have the letters X, Y, W and Q in addition to the letters of the Slovenian alphabet. Despite that, words that include other letters can be used if they:

1. correspond to the firms, names or surnames of the partners that form part of the firm, or
2. correspond to registered trade marks.

• The company’s name must be clearly distinguishable from that of any other company.

Determining the name of the company can really be a tough process if you don’t have expert advisors! We at DATA have team of more than 40 experts that help entrepreneurs in determining the name of their companies! We provide high-quality accounting, business, and legal services!

Call us on +386 40 530 718  (Viber/WhatsApp)

Change the name of the company – when and why?

What does the law say for you idea? Can you realize it? You still have questions how to name your company? Stay with us! In due time, we want to explore something else. In the event of withdrawal or death of a founder, the ZGD-1 states:

• If a partner whose name or surname appears in the name of the company is no longer a partner of the company, the company may continue to operate under its name only with his/her consent.
• If a partner dies, his successors must request that his name or surname be removed from the name within three months.

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DATA – your most reliable partner!

Concludingly, we see that there are some specific conditions in determining the name of the company. For this purpose, DATA is here for you! We have rich experience of more than 30 years. We assist new and old entrepreneurs find the right name for their companies! With the right legal experts, there will be no issues! Above all, Slovenia is a country with a lot of business opportunities and advantages! There are a lot fast-growing companies in Slovenia! Be one of them! Start your process with DATA! Just call us on +386 40 530 718 (Viber/WhatsApp) or send us an email at data@data.si. Also, please follow our Facebook profile if you want to find more about our work!