The COVID-19 situation has thrown the entire world into a frenzy, but Vietnam has weathered the storm.
How? Because of Vietnam’s economy & people are known to be “resilient.” Even in this global economic downturn, Vietnam achieved a GDP growth of 1.8%. The number is significant, compared to prevailing economies like Britain, India, which are wrestling in the minus figure.
There are compelling reasons for doing your business in Vietnam. These comprise: suitable strategic location, proximity to dominant Asian markets and shipping routes. The economy of Vietnam is steady, with an upbeat track over the past two decades.
So, you are all excited to translate your visionary business idea into a reality, register your company in Vietnam? But before that; you’ve mulled over your company’s name.
You must find a name that communicates your brand message to your prospective audience and quick to remember. Besides, you’ve to follow the Vietnam company registration laws & regulations.
Your company name gives a unique identity, but trademarking is also vital to protect your brand & business in Vietnam.
Today, in this article, we’ll be putting things to keep in mind when registering your new business name in Vietnam:-
Tips for Naming Your New Business in Vietnam
Here are some key tips when naming your new business in Vietnam
Ideally, your business must connect with your audience; there must be a story behind it.
Don’t copy other businesses, be unique, short & memorable.
Pick a name easy to pronounce, and your potential target audience can recognize it easily.
Choose a name according to what products/services you offer.
Requirements for Naming a Business
Before you register your company in Vietnam, you must be well-aware of all the requirements when naming your company.
Pick a name that meets the below legal requirements & criteria:
- You must select three business names.
- If you’re a foreign company, then the three names must include one abbreviated name, one Vietnamese name, and one foreign name.
- It must not be a brand name that is already registered,
- The legal structure of the company must be in the company name.
What if You Want to Change Your Business Name?
Yes, you can always change your company name later on, under the following conditions:
- When the company is being rebranded
- The company goes through an acquisition & merger.
- If the company name is generic or somewhat generic
- The name doesn’t apply to the new product or service you offer.
Should You Trademark Your Business Name?
The one-word answer is “Yes.” Especially when your business name is unique to your products, and you wish to safeguard your intellectual property. No one will steal your company’s name, which has turned into a brand from your years of hard work.
Now, how to trademark your business name in Vietnam? Submit a request application to the Intellectual Property Office of Vietnam.
How a Local Consultant Can Help You With Business Registration in Vietnam
Find a credible local business consultant having extensive knowledge of Vietnam’s infrastructure. They’ll assist you in setting up a company in Vietnam, right from meeting the basic requirements to filing the paperwork.
The most common mistake entrepreneurs make when naming their business is being too narrow with the name. It limits your company’s growth and causes problems down the lane.
For instance, currently, you offer deep commercial kitchen services, and you opt for a name such as “kitchen clean Vietnam.” In this kind of name, you are limiting your company only to kitchen cleaning. What if you expand to other services too? Thus, have a broad mindset when deciding on your company name.