Congratulations -you're taking the leap into entrepreneurship!🚀 Step one? Choosing your business name! It's something that entreprenuers agonize and obsess over and rightfully so - it's a fun exercise.
We've helped 100s of businesses get incorporated properly with Founded, regularly speak about entrepeneurship to various publications (including our most recent interview by MaRS for Entrepreneur magazine) and frequently talk to groups of entrepreneurs throughout Canada, leading Legal Bootcamp sessions to help them start.
What you'll learn from this article:
In this article, we'll provide everything you need to know about business names, including:
- The importance of NUANS Business Name Searches
- Details on how to get a NUANS Report
- Access to our free business name search tool
NUANS Business Name Report: What is it?
NUANS is a clunky acronym standing for “Newly Upgraded Automated Name Search”.
A NUANS search cross-references your chosen corporate name against other registered business names. So long as your name is not identical or highly-similar to an existing company, your business name is likely to be approved for the purpose of incorporating a company. No one in the future will be permitted to incorporate under that specific name.
When you incorporate a new business in Canada, you are required to obtain a NUANS search. The one exception is when you incorporate in British Columbia, which has a separate business name registration requirement.
A NUANS search is also jurisdiction-specific. When incorporating provincially, the NUANS search will have to be specific (or “biased”) for one province. If incorporating federally in Canada, the NUANS search will be applicable to the entire country. It's important to realize that a Federal Corporation doesn't mean your company needs to be national. Rather, it's simply a different way to incorporate. For example, an Ontario-only business can choose to incorporate federally or provincially and receive the exact same tax and liability benefits. It's just cheaper to incorporate a Federal Corporation than an Ontario corporation. To learn more about incorporating, read our guide here.
How to reserve your business name?
We've made it easy, instant and affordable to reserve your business name.
Simply go to nuans.founded.co and type in your desired name:
- $19 for a Federal NUANS Report
- $39 for a Provincial NUANS Report
Plus, you can get $25 off your Federal Corporation in Ontario if you use Founded to incorporate.
Free Business Name Search Tool
With our free business name search tool, you can see if anyone else has already registered your business name.
Simply go to nuans.founded.co to try:
Good luck with finding your perfect business name! 💡
Thinking of incorporating and interested to see how things work on Founded? Signup for a 1:1 demo with our Customer Success team: Signup Here or visit Founded and learn more about our incorporation platform: Visit Founded Here.