Can I use limited in my business name?
‘Limited’ should not be used in trading names Business names (also known as trading names) can be any name that does not infringe another company’s trade mark and does not contain any offensive or ‘sensitive’ words. Furthermore, a trading name must not include the following words or abbreviations: Limited.
Does limited mean Incorporated?
There are terms that mean something different (e.g., ULC or LLP) that mean something different, but there is no difference between Ltd./Limited, Inc./Incorporated, and Corp./Corporation.
What’s the difference between incorporated and limited?
A corporation’s owners are protected from its liabilities. Incorporated businesses usually carry the designation Inc., Corp., or Ltd., all of which indicate that the business is a separate entity from its owners and that the owners’ liability is limited. There are actually no distinctions between them, Ms.
Is incorporated the same as limited?
Incorporation is the process by which a new or existing business registers as a limited company. A company is a legal entity with a separate identity from those who own or run it. The vast majority of companies are limited liability companies where the liability of the members is limited by shares or by guarantee.
What does limited at the end of a company name mean?
The “limited” part of LTD represents limited liability. When you establish an LTD company, you create a new business entity. Your company becomes its own legal property. This means if the business owes money, you are separated from the company and do not pay that money out of your own pocket.
How do I upgrade my company name to Limited?
Steps towards upgrading a Business Name to a Limited Liability Company
- Application Letter. Write an application to the Registrar – General of the Corporate Affairs Commission to upgrade your business name to a Limited Liability Company.
- Annual Returns.
- Payment of N5,000.00 ($14)
- Payment of Stamp Duty.