Below you will find some of the things you need to consider before registering a sole proprietorship in the province of New Brunswick.Buy Now
Choosing a Name for your New Brunswick Sole Proprietorship
It is important that you follow the guidelines with respect to choosing a name.
The New Brunswick government will want to pre-clear the name and ensure it is not the same, similarly spelled the same as, or even sounds the same as as any other sole proprietorship, company, partnership, etc. already registered in that province and possibly in all of Canada.
As well, you need to ensure that the name you choose is not the same as, spelled close to or sounds the same when spoken as any other registered name right across Canada.
You, as a businessperson, will take many factors into account in selecting a proposed name. Does it describe the product or service offered? Is the name distinctive? Can customers identify and remember the name?.
One major factor to consider are the provisions in various Acts and Regulations of the Province of New Brunswick, which deal with the suitability of a name for registration. New Brunswick sole proprietorships are governed by the Partnerships and Business Names Registration Act.
A major emphasis of these provisions is to prohibit the registration of a name that is either identical or deceptively similar to a name already on record in New Brunswick with the Branch. These provisions attempt to alleviate the public confusion and inconvenience which would likely result with having identical or deceptively similar names on record. It should be noted that in circumstances where it is determined a name has been registered and is identical or deceptively similar to an existing name on record, provisions exist under the Act to order a change in the name of the more recently “recorded” name.
The New Brunswick Corporate Registry is required by legislation, as set out above, to determine the suitability of a name prior to permitting the registration of the name. Likewise, you, as a businessperson, will be interested in ensuring the proposed name for your business in not identical to or deceptively similar to one on record. In the end, the ultimate responsibility falls upon the person who is registering the business name to ensure that the name he or she chooses is a name that is not identical to or deceptively similar to another name existing on our records. Refer to Choosing a Name for your Sole Proprietorship for further information.
Renewal of New Brunswick Sole Proprietorship
Once a Certificate of Business Name is registered, a Certificate of Renewal must be registered in compliance with the Act every five years from the date the certificate was registered. Failure to do so constitutes an offence under the Act and may result in the cancellation of the certificate of registration by the Registrar.
Ceasing to Carry on Business of a New Brunswick Sole Proprietorship
Where a Certificate of Business Name has been registered and the sole proprietor wishes to cease to carry on business under that name, the sole proprietor is required to file Certificate of Cessation of Business Name or Use of Business Name setting out that it has ceased carrying on business or has ceased carrying on business under that business name.
Time Period for Registration of New Brunswick Sole Proprietorship
The registration of a business name in the Province of New Brunswick is normally done by a person engaged in business for trading, manufacturing or mining purposes within New Brunswick and who carries on business under a business name.
Registration is required to be done within two months of commencing business in New Brunswick under a business name.
When a request has been made to the New Brunswick government for a name clearance and sole proprietorship registration, it will take 2 to 4 days for the registration to be complete.