In the field of commerce in Korea, the selection and use of trade names hold significant legal implications. Here, let’s explore key aspects of trade name regulations, from the freedom of choice in selecting a name to the specific requirements for companies of different types.
Legal basis:
COMMERCIAL ACT
1. Free Choice of Trade Name:
A merchant may choose his or her name or other names as his or her trade name.
2. Trade Name of Company:
The lettering “partnership company”, “limited partnership company”, “limited liability company”, “stock company” or “limited company” shall be contained in the trade name of a company according to its nature.
3. Prohibition of Illegal Use of Trade Name of Company:
No person, other than a company, may use in the trade name any lettering indicating a company. This shall also apply where a person has acquired the business of a company
4. Unitary Trade Name:
A single trade name shall be used in the same business.
The trade name of a branch office shall explicitly indicate its dependent relationship to the principal office
5. Legal Effects of Registration of Trade Name:
No trade name registered by another person shall be registered as a trade name of the same kind of business in the same Special Metropolitan City, Metropolitan City, or Si/Gun.
6. Provisional Registration of Trade Name:
If any person intends to establish a stock or limited company, he or she may file an application for provisional registration of the trade name with the registry having jurisdiction over the place of its principal office
If a company intends to change its trade name and/or purpose, it may file an application for provisional registration of its trade name with the registry having jurisdiction over the place of its principal office.
If a company intends to relocate its principal office, it may file an application for provisional registration of its trade name with the registry having jurisdiction over the place to which it is to relocate.
Provisional registration of a trade name shall be deemed registration of the trade name.
