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Ontario|Business LawSole Proprietorships 209 How to register a business name If you operate your sole proprietorship under a name other than your own name, the law requires that you register the business name. After you conduct a name search to ensure that the name you want is not being used, you can then register your business with the Ministry of Consumer & Business Services. There are several things you must do to register your business name and to keep the registration valid.
To register the business name of a sole proprietorship you must obtain an application called a Form 1. This form can be ordered or picked up for free at the Companies Branch of the Ministry of Consumer & Business Services. The Form 1 requires you to provide basic information about your business, such as the name of your business, its address, and the name of the owner.
After completing this form, you must submit it together with a fee of approximately $60 to the Ministry of Consumer & Business Services. If there is a problem with your application, they will contact you. If you register in person, the registration can be completed the same day.
- Expiry of business name registration after 5 years
When a business name is registered, it is added to the public record of all Ontario businesses. A business name registration is only valid for five years. If you plan to use the name for longer than five years then you must renew your registration before the first one expires. The Ministry will not notify you when your business name expires. It is your responsibility to record the date for renewal.
- Registration of changes to partnership or cancellation
If a change is made to the business, such as a new owner takes over, or the address of the business changes, you must file a new Form 1 with the Ministry within 15 days of the change. There is no fee for filing these changes.
If you want to stop doing business under your registered name or you want to stop doing business altogether, you should cancel your business name. This is done by filing another Form 1 with the Ministry. There is no fee for filing a cancellation.
If you have a question about registering a business name, you can contact the Companies Branch of the Ministry of Consumer & Business Services. The Ministry can also direct you to your local business self-help office which can also provide you with information.
If you have questions about which form of business is best for you or any other legal questions about your business, contact a lawyer.
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