Overview - LLP Name Change
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During the course of business, LLP may required to change name to depict the new activities adopted by LLP or to reflect the new brand developed in the market. Both the cases, LLP can change name subject to provision of LLP regulations and LLP Agreement.
An LLP can change its name by compliance with LLP rules and provision of LLP Agreement. The first step in the name change process is identifying a suitable unique name and getting it approved by registrar of companies.
While selection new name for the LLP, it is advisable to consider LLP name availability guidelines for avoiding possible rejection in the process of name change.
Overview
LLP is an incorporated business entity with all the features of a body corporate. Like a company, LLP can also change name by complying with the procedures in LLP Rules and LLP Agreement. Also, the proposed LLP name should comply with the LLP Name guidelines as prescribed by the MCA.
Process of LLP Name Change:
- Apply for availing the new name and obtain approval from the Registrar
- Complete the procedures for name change as per LLP Agreement. Usually LLP agreement provides for consent of partners either at their meeting or for written consent without meetings.
- File necessary documents with Registrar and get name changed
The philosophy behind name guidelines in nutshell are as given below
The LLP Name SHOULD
- Be unique
- Contain a noun and an activity word that reflects its objectives
- Be in line with LLP Name Guidelines issued by Ministry of Corporate Affairs.
The LLP Name SHOULD NOT
- Be same, similar, identical or resembling to the name of an existing Company or LLP registered. Phonetically similar names also to be avoided.
- Be similar of a registered trade mark or a trade mark for which an application has already been filed
- Be Offensive
- Be Undesirable in the opinion of the Central Government (Undesirability of names explained separately
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LLP Name Change - Requirements
Partners Meeting
Name Application
Amend LLP Agreement
Filing with Registrar of Companies
Steps - LLP Name Change
Name Check Avalibility
Name change process of an LLP start with checking name availability with Registrar. With the consent of partners with required majority LLP can apply for name check in MCA portal.
Partners Consent
Usually LLP decisions are taken by partners subject to provisions in the LLP Agreement. After approval of name, Partners can take appropriate decision by written consent or resolution at partners meeting.
LLP Amendment Agreement
Since, name change amount to change in the name appearing in LLP Agreement, an amendment agreement shall be adopted by partners of LLP making necessary changes in the LLP agreement.
Filing with Registrar
After completion of documentation for name change, the final step is filing respective Forms with MCA (Form 15 & Form 3). If all informations are in order, ROC Register and issue a certificate to this effect.
Intimation to Bank etc
After approval of new name by ROC, LLP shall intimate name change to Banks and other authorities to effect change in respective records.
Documents Required
Documents for LLP Name Change
Unlike company, LLP is a self regulated business structure with limited external legal control. LLP agreement is the primary document to be verified before starting the process.
List of Documents
- LLP Agreement
- Partners Consent or Resolution
- Amended LLP Agreement Stamped
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Faq - LLP Name Change
LLP intent to change name shall make an application to respective Registrar of Companies, with some name suggestions.
No, approval of name is subject to LLP rules. The basic criteria is similar LLP or Company the the proposed name.
You can get trademark name as LLP name. But if someone has already registered with trademarked name, then you need to go for application to change name of LLP/Company using your trademarked name.
It all depend on the name proposed and completion of documentation. Usually it may take 2 to 3 weeks time.
