Ontario Corporation Name Change

Ontario Corporation Name Change

The individuality of a corporation is in its name. Due to many reasons, a corporation might choose to change the corporation’s name, such as market focus shifts, refreshing brands, merging two corporations, and also trademark issues.

Importance of a Corporation Name:

A corporation name is more than just a legal requirement; it’s an important part of your business identity. A strong, memorable corporation name can boost brand recognition, customer loyalty, and overall market presence. A corporation name can differentiate your business from competitors and create a lasting impression on your target audience. Reasons why a Corporation Name is Important-

Brand Recognition: Your corporation’s name helps customers recognize and remember your brand.

Professionalism and Trust: A good name shows professionalism and builds trust with clients and partners.

Legal Protection: A unique name protects your brand legally, stopping others from using a similar name.

When to Consider Your Corporation Name Change?

Rebranding: If you want to reposition your corporation with new products, services, or market positions, you can consider your corporation’s name change.

Mergers: When you want to merge two companies and want a name that displays more of the brand you can change the name of your corporation.

Market Expansion: When you want to expand your market, you can change the name of your corporation.

Modernization: When you want to update your outdated corporation name for better engagement, you can change the name of your corporation.

Steps for Your Corporation Name Change:

NUANS and Name Reservation Report:

Before changing your corporation’s name, you’ve to decide a perfect name for your corporation for a Corporation name change. According to your corporation’s bylaws, you might need to seek approval from your board of directors for this procedure.

The next process is to conduct a NUANS report (New Upgraded Automated Name Search) to make sure that the name you’ve chosen for your corporation is not already in use by another corporation.

You can do this by performing a NUANS Name Search online with us. You can also do it through a service provider. This report will compare your chosen name with other corporations. If the name is available, then you will be able to reserve it and change the name afterward.

Pass a Resolution in the Board of Directors Meeting: 

For any change in an existing corporation, you must pass a resolution in the Board of Directors Meeting. The corporation’s board of directors must pass a resolution approving the name change.

Articles of Amendment

Changes you can make with the article of amendment:

1. You can change the name of your corporation.
2. You can change the structure of your corporation.
3. You can change the number of Directors of your corporation.

For your corporation’s name change, when you have the NUANS report, you will have to file articles of amendment as the next step. First, you have to fill out a form. The form will ask for your current corporation’s name, the new name, and the corporation’s number. Then, you need to submit your form to the Ontario Business Corporations Act also known as ONCA. However, an appropriate corporate registry is a must to make your application official.

How many ways you can change your corporation’s name?

After they are done with their checking process, you’ll be given three options for name change:

1. Change the name to a numbered corporation.
2. Change the current name to a new name that you’ve chosen.
3. Change the numbered corporation to a named corporation.

Name of the Corporation to a Numbered Corporation:

If you want to change the name of your corporation to a numbered one, you will not need a NUANS report. You can easily get a number issued by the government for your corporation. This is a straightforward process and doesn’t require a name search.

Name of the Corporation to a New Name:

If you already have a named corporation but want a better name that will show the correct identity of your corporation, you have to select this option. NUANS report is a must for you in this case. Make sure to choose a name that goes better with your business and is also engaging.

Numbered Corporation to a Named Corporation:

If your corporation currently has a numbered name but you want the name to be more descriptive, you’ve to consider this option.

BENEFITS OF CORPORATION NAME CHANGE IN ONTARIO

• A new name can refresh the brand and potentially attract new customers.
• Name change can help a company stand out from its competitors in a crowded marketplace.
• It attracts different demographics or enters new markets with a more suitable name.
• It may reflect better on existing products and services to the target audience.
• It helps better protect the company’s brand and intellectual property.
• To avoid customer confusion by changing a name that’s like another business.
• It helps to overcome previous business challenges or negative perceptions.
• It cost-effectively refreshes the image compared to a complete rebrand.

How many ways do you have to change your corporation’s name?

Through Articles of Amendment:

This is the most common method to change a corporation’s name. Where the corporation files Articles of Amendment with Government Authority. This process is more easy than other methods. It involves obtaining board approval, NUANS name searches to ensure the new name is available, and officially filing for the name change.

Corporations Amalgamation:

Although it is not mandatory to have a new name in case of Amalgamation. But, If your corporation is merging with another corporation, you can change the corporation’s name as part of creating a newly amalgamated company. This involves preparing new articles of amalgamation that include the new corporate name. This process is complex and more time-consuming than another process.

Revival (if dissolved) of Corporation:

This process is also complex and needs time to complete the whole process. If a corporation has been previously dissolved and you wish to revive it, you can choose a new name as part of the revival process. This process requires filing Articles of Revival, NUANS report, and then Articles of Amendment.

Each of these options involves specific legal and procedural steps and is chosen based on the corporation’s situation and strategic needs.

Why Choose RegiCorp?

1. Official Intermediary of Service Ontario: RegiCorp is an official intermediary of Service Ontario. We are one the leading Service providers in Canada. We ensure reliable and authoritative service.

1. Experienced Professionals: RegiCorp has a team of Corporate experts who handle the business process, Corporate filing and so on efficiently.
2. Member of Corporation Canada: RegiCorp is a proud member of Corporation Canada. We are demonstrating our commitment to adhering to the highest standards of corporate governance and business practices. As a member, RegiCorp is well-positioned to offer clients expert guidance and services in line with national regulatory requirements.
3. Time-Saving: Our online based easy-to-use filing process services will save your time. We also take hassle of managing paperwork and procedural requirements.
4. Comprehensive Services: We offer a broad range of services including Incorporate corporations in All jurisdictions, Business Registration, Corporate search, corporate filings, Trademark application, copyright Registration, Nuans and Name reservation, and so on that your business needs. We always ensure a smooth and efficient transition for our clients business. . In a sentence, we handle from initial consultation, name availability checks to filing the necessary documentation and updating all relevant record.
5. Consultation Services: RegiCorp provides consultation services to help choose an appropriate and effective new name. Our consultation involves name reservation, Choose right business structure, Corporate tax filing, Small business tax filing and many more.
6. End-to-End Service: We provides end-to-end service. That means managing every step of the corporate process from start to finish.

Post Corporation Name Change:

• Update Business Records: It is mandatory to update all business records immediately, including bank accounts, contracts, and marketing materials when you get the Certificate of Amendment.
• Notify All Stakeholders: Inform stakeholders, including employees, customers, suppliers, and regulatory bodies, of the Corporation name change.
• Update Licenses and Permits: The New Corporation name means your all business licenses and permits related to this corporation must reflect the new Corporation name. If needed you must change them immediately. You may contact related authorities.
• Amendments in CRA Records: Another important task after getting the Certificate of Amendment is to update the corporation’s name with the Canada Revenue Agency (CRA). You may need to call them or you can take RegiCorp CRA department help in this regard.

How long does it take to change Ontario corporation name?

The timeline depends on the option that you choose. If you include the name search too, it may take a week. As an official intermediary of Service Ontario RegiCorp Offers 1 Hour Rush service to change your Ontario corporation name.

Example of a Successful Corporation Name Change:

If you’re hesitating for a name change thinking that your company might lose important clients, here’s an example of a successful corporation name change for you.

Research In Motion is a software company. The company changed its name to BlackBerry in 2013. This name change replaced the corporation’s name with its most recognizable product, causing market engagement. They could reach their target audience due to the name change.