Taking a business name

[shifty_uk]

Bit of background:
Couple of friends of my previous director started a business with an angel investor last year(paid their expenses/wages in what seemed like a well funded gap year for them - seriously!) - it flopped within 9 months, flawed model, strategy and 2 coffee/nights out/events loving girls at the helm. They made no money and have since returned to their previous employers.

I like the name, a lot. It would sit nicely within my sector. However, the business hasn't been dissolved, it's still listed and registered to them. Despite having met and even helped them out in the past, I think they'd ask for a greedy sum if I requested the business to be handed over which I wouldn't go for.

Could I register a new business and trade under that name? They were in a similar sector but don't have an established brand or any accounts.

However, there's also the relationship I'd still like to maintain with my previous director and feel it would be seen as 'copying' in a sense, if I went out and started trading under that name.

The dilemma!

Any advice?

 

[shifty_uk]

Just keep the name but change a letter to provide an USP. So if their name was, purely for example, I AM STEALING THINGS I DON'T UNDERSTAND you could call it I AM $TEALING THING$ I DON'T UNDER$TAND

I am an IP lawyer so this advice is pretty good so.

Can't tell if this is a dig or not?

You can't register a company with the same name until it's been dissolved. At least not in companies house. (As far as I know)

Has it missed any filings of reports recently? (Companies house website will tell you) if they have it seems to be 6 months from missing report to the forced dissolution of the name which take up to 3 months.

So either wait or ask as said above. Just make sure there's no one after debts or CCJs against them as even though you're a new company they may appear when searched for by the name not company number.

There's been zero filings during the companies entire existence. I could ask but fear any form of backlash, e.g. "you've asked, we've said we'll give you the company for £xxxx, now you've started one with the same name like a sly bugger..."

The company is for example
Over clockers worldwide

So I could technically start one called over clockers technology?

 

[shifty_uk]

Does duplicate business name really matter?

Like there must be 100s of chippy out there called codfather

Yeah - I think there's some assumptions - which I should've been clearer about - that it's some totally unique name. There's a lot of businesses out there using this word(which is just a name, ultimately) in the business name.

It's not going to be something as specific and unique as uberfabulicious tech ltd. It'll be more like jeffery tech with my new one being jeffery worldwide.

That simple

 

[shifty_uk]

I would see the only way around this is to run as a Sole Trader with that name until the current company is dissolved. Once this has happened you could attempt to register that company name with Companies House. However, it could be tricky securing domain names and things for website/email if they are still hanging onto them.

I suppose your other alternative, is to setup a Limited company with a different name and either ask for the "trading as" name, or a name change once the company has been dissolved. That way, if you need to apply for trade accounts within the business it will be much simpler to transfer those accounts to the new name as the entity will remain the same.

The sole trader route could be an option, I'm just not sure at this point if it's right for the circumstances, will look into it more though!