Under the Companies Act, 2017 of Pakistan, there are certain criteria that must be followed when selecting a name for a company. These criteria are designed to ensure that the name chosen is distinctive and does not conflict with the names of existing companies.
Here are the main criteria for selecting a company name in Pakistan:
- The name must be distinctive and not identical or similar to the name of an existing company.
- The name must not contain any words that are prohibited by law or that are deemed to be offensive.
- The name must not be too similar to the name of a well-known company or trademark, unless permission is obtained from the owner of that company or trademark.
- The name must not contain any words or phrases that suggest a connection with the government or any government agency, unless permission is obtained from the relevant authority.
- The name must not be misleading or deceptive in any way.
In addition to these criteria, the Companies Act, 2017 also specifies that certain words and phrases can only be used in a company’s name if the company meets certain criteria. For example, words such as “bank,” “insurance,” and “trust” can only be used if the company is engaged in the relevant business activity, and has obtained the necessary licenses and approvals.