Do you need to register a business name as a sole trader?

Do you need to register a business name as a sole trader?

The trade name must be registered

The trademark identifies the product or service. The trade name identifies the entrepreneur who produces, offers or markets them. On the other hand, the right over the trademark is acquired with its registration, while the right over the trade name is acquired with its use. Therefore, the right to the trademark is lost if the registration is not renewed, while the right to the trade name is lost if it is not used continuously.

On the other hand, the commercial registration does not generate exclusivity or industrial property rights. The registration in the commercial registry kept by the Chambers of Commerce constitutes the fulfillment of one of the obligations that the merchant must comply with and its function is to serve as a means to attest the existence, incorporation, representation and corporate purpose of a legal entity. However, it is quite possible that the corporate name chosen to name the company and register it in the commercial registry, coincides with the commercial name already chosen by the company or entrepreneur to identify itself in commerce.

Name registration

Virtual procedureEnter the web portal www.miempresa.gob.bo, carry out the homonym control, fill out the virtual registration form, upload the evidence to validate the identity of the owner of the sole proprietorship. Once the process is completed, the Registry of Commerce will verify the completion of the virtual registration form and review the evidence uploaded, and if applicable, register the company. The client may obtain the commercial registration by downloading the certificate with QR validation code, at www. In case observations are noted, an e-mail will be sent to the client, attaching a note of observation in which the reasons for which the same has been observed and how it can be corrected will be determined, being able to re-enter the corrected procedure online.

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How to buy the name of a company

A trader is a natural person who exercises this activity in a habitual and professional manner in a personal capacity. It assumes in a personal capacity all the rights and obligations of the commercial activity it exercises.Registration as a natural person and commercial establishment

Establishment of Commerce is understood as a set of goods organized by the entrepreneur to carry out the purposes of the company. The same natural or legal person may have several establishments of commerce, these may belong to one or several owners and be used for the development of various commercial activities.

See below:Informative guides:Choose the document model that fits your needs and fill in the required fields:See the main legal forms provided for in the Colombian legislation for the exercise of any economic activity, as well as the most relevant characteristics of each one of them:

Commercial companiesThese are legal entities that are constituted by a partnership contract by virtue of which two or more persons are obliged to make a contribution in money, work or other goods appreciable in money, in order to share profits obtained in the company or social activity.Companies are classified into personal, capitalist and mixed nature companies. Partnerships are those in which all the partners know each other, and both the company and the partners are jointly and unlimitedly liable with the totality of their patrimony for the corporate obligations, which gives all the partners the right to manage the company, for example: partnerships and limited partnerships. Capitalist corporations are those corporations in which the partners are not known and they are liable up to the amount of their contributions for the corporate obligations, e.g. corporations, limited partnerships and simplified joint stock companies. Mixed corporations are those corporations in which all the partners know each other, but they are only liable for the obligations acquired by the corporation up to the amount of their contributions, e.g. limited liability companies. The types of partnerships provided for in the legal regulations are limited, collective, limited partnership, limited partnership, joint stock company and limited joint-stock company.

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Impi trade name registration

After the granting of said certificate, the name will have to be registered before a notary, as indicated in Article 413 of the current Commercial Registry Regulations, the first paragraph of which states that “No deed of incorporation of companies and other registrable entities or of modification of name may be authorized without the presentation to the Notary of the certification certifying that the chosen name is not registered”. In this regard, it should be noted that the trade name differs from the name registered in the Commercial Registry. While the trade name is the one used in the commercial field as an identifier of the companies in the commercial traffic, the one registered in the Commercial Register is, so to speak, the formal name that appears in important documents such as invoices or contracts.Registration of trademarks and trade names: applicable lawThe registration of trade names and trademarks as such grants you all the rights for their protection. Under the concept of trademark you can register products, services and companies differentiating them from their competitors, and this gives them recognition and seriousness. However, one of the most important factors in this respect is not to infringe the law in force.

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