Legal formalities

In order to set up your business, you will have to go through some legal formalities.

Firstly, you will need a business name. Choose something that is relevant, memorable and reflects the image you want to project. It’s important to conduct some research to ensure the name is available and is not patented or copyright to avoid any legal problems later on. Company names need to end with ‘Limited’ or ‘Proprietary Limited’, depending on the type of business. You need to ensure that you meet the necessary legal compliance.

Secondly, you may need a trademark. A trademark is a symbol that reflects your brand value and may be a symbol or word. Remember that business names and trademarks need to be registered to prevent anyone else from using them. They usually require a registration fee to be sent along with an application to the registration office.

You may also wish to obtain a patent or legal protection for exclusive use of a technology or invention which has been created by you, to prevent anyone else from using it.