A registrant of a company name who has suffered damage because someone else has registered the same or a falsely similar name may take legal action in court. The Business Names Act gives you the right to claim damages for damages suffered and provides for a court order removing the registration that was the reason for the lawsuit. With the Master Business License, you can also legally market your brand and promote your company name. You will receive your registration within 20 business days if you register by mail. Not all businesses that adopt a partnership or sole proprietorship require a master business license. Only those who wish to work with names other than the full names of the owners or partners need a master business license. If your company name is the same as your name or the names of the partners, you do not need to register your company and therefore do not need a primary business license. In addition to operating a business name in Ontario, the Master Business Licence offers the following benefits. You need to open a bank account, tax account or business card.
The ability to access wholesale or discounted prices from a supplier. The company name must be advertised and promoted. Online registration is quick and easy, and you can do so through the Service Ontario portal or through third-party providers like Ownr. You can also complete your business registration online, by mail or in person at an Ontario point of service. The Trade Names Act does not protect the exclusivity of a registered name. You may be able to protect your company name by registering a trademark under trademark law (federal law). It may be helpful to speak to your lawyer or contact FedDev Ontario Small Business Services (SSE) for more information on trademarks. There are several ways to complete an application for a Master of Business license. If you are in Ontario, you can submit your application in person.
Otherwise, you have the option to register your business by email or online. Online registration is quick and easy and can be done through the Ontario Service Portal or a third-party provider. Email registration takes a lot of time. As soon as you are ready, the license will be mailed to you. Although the main business licenses give companies legal status, they have restrictions on protecting owners from liability and competition. For example, if you choose a primary business licence for your Ontario business, you will not have name protection like registered businesses. This means that competing companies without their own legal personality can operate under a name identical to yours. If this happens, you cannot take legal action against them. If you want to start a partnership or sole proprietorship in Ontario, you will need to purchase a master business licence to operate it. This form of registration is simple but essential to give companies the legal status they need to work. Applications for a Master Business degree are addressed to the Business Licensing Service of the Ministry of Revenue and not to the Office of the Secretary of State. You can apply online or by mail using the printed form.
You will receive your license faster if you apply online. It is your responsibility to ensure that your company name does not contain any of the above words or phrases, unless appropriate consent has been obtained. If you register a name that violates the law or regulations, the name can be removed at any time. If you close your registered business, you must cancel all associated commercial licenses. It would be best to notify the Canada Revenue Agency of the cancellation to avoid triggering an audit of your business after the abrupt closure. Registration for a Master of Business licence is open to adults 18 years of age and older in Ontario. Unlike incorporation, you can register for this license even if you are not a Canadian citizen or permanent resident of Canada. The downside of a master business license is that it doesn`t protect owners from the company`s responsibilities. If your business is at high risk of taking on responsibilities that you want to be protected against, it`s best to start a business. In Ontario, businesses with annual sales of more than $30,000 must register for HST and bill their customers.
A small supplier is a supplier who has less than $30,000 in annual sales and does not need to register and charge HST if they do not have more than $30,000 in annual revenue. If the company ceases operations, you must cancel the registration of your company name. There is no registration fee for deleting a company name. Once you have obtained a primary business license, your business is considered a registered entity with a legal right to operate. This license allows you to open a bank account for the company and even market your services or products to promote your business under the company name. However, you can only do this for a while. The sole proprietorship business registration is only available to a single business owner. Another option for new business owners is to integrate the company as a single administrator. While a primary business license is important, it is limited in terms of the protection it provides to your business. For example, an MBL does not offer name protection against other corporations in Ontario, such as incorporation.
Competing businesses that are also not registered may operate under a similar or identical name to you, and you may not be able to legally stop them. It also doesn`t offer you protection when it comes to liability or corporate tax benefits. Business licences are documents issued by government agencies that allow business owners to operate in the country, province, territory or municipality in which they are located. For new entrepreneurs, the most common scenario that requires a master business license is to start a sole proprietorship. It should be noted that the Master Business license is not the only license you need to operate. Depending on your industry, you will need other permits and licenses to comply with state laws. Applying for a primary business license allows other government agencies to notice your business, and some agencies may contact you to inform you of the need to meet their requirements. Detailed information on searching for a company name and product descriptions, as well as information on searching for company names as well as NUANS and brand searches, can be found in the « Public Folder Search » fact sheet, which is available online through ServiceOntario. The Ministry of Economic Development, Job Creation and Trade operates business centres and self-help offices for businesses across the province to support anyone who wants to start a new business. They provide information, access to resources and advice on creating a business plan, running a new business, and government support for entrepreneurs. Used when a registered partnership or an existing limited partnership wishes to carry on business under a name other than the name of the partnership or limited partnership. There are a number of benefits of registering a Master Business license.
The most obvious answer would be that as a new business owner, you would be able to legally operate under the name of a business in the province of Ontario. Master Business licenses will be sent to you within 20 business days if you register a sole proprietorship, general partnership or company under a new or renewed master business license. .