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SEC MEMO CIRCULAR NO.

14-2000
SECURITIES AND EXCHANGE COMMISSION
MEMORANDUM CIRCULAR NO. 14
Series of 2000
To : All Concerned
SUBJECT : Revised Guidelines in the Approval of Corporate and Partnership Names
n implementin! Section "# of the Corporation Code of the Philippines $BP %#&' the
follo(in! revised !uidelines in the approval of corporate and partnership names are
here)* adopted for the information and !uidelines of all concerned:
The corporation name shall contain the (ord +Corporation+ or its a))reviation +Corp,+
or +ncorporated+' or +nc,+,
The partnership name shall contain the (ord +Compan*+ or +Co,+, -or limited
partnership' the (ord +.imited+ or +.td,+ Shall )e included, n case of professional
partnership' the (ord +Compan*+ need not )e used,
Terms descriptive of a )usiness in the name shall )e indicative of the primar* purpose, f
there are t(o $/& descriptive terms' the first shall refer to the primar* purpose and the
second shall refer to one of the secondar* purposes,
The name shall not )e identical' misleadin! or confusin!l* similar to one alread*
re!istered )* another corporation or partnership (ith the Commission or a sole
proprietorship re!istered (ith the 0epartment of Trade and ndustr*,
f the proposed name is similar to the name of a re!istered firm' the proposed name must
contain at least one distinctive (ord different from the name of the compan* alread*
re!istered,
Business or tradename of an* firm (hich is different from its corporate or partnership
name shall )e indicated in the articles of incorporation or partnership of said firm,
Tradename or trademar1 dul* re!istered (ith the ntellectual Propert* 2ffice can not )e
used as part of a corporate or partnership name (ithout the consent of the o(ner of such
tradename of trademar1,
f the name or surname of a person is used as part of a corporate or partnership name'
the consent of said person or his heirs must )e su)mitted e3cept of that person is a
stoc1holder' mem)er' partner of a declared national hero, f such person can not )e
identified or non4e3istent' an e3planation for the use of such name shall )e re5uired,
The meanin! of initials in the name shall )e disclosed in (ritin! )* the re!istrant,
Name containin! a term descriptive of a )usiness different from the )usiness of a
re!istered compan* (hose name also )ears similar term$s& used )* the former ma* )e
allo(ed,
The name should not )e patentl* deceptive' confusin! or contrar* to e3istin! la(s,
The name (hich contains a (ord identical to a (ord in a re!istered name shall not )e
allo(ed if such (ord is coined or alread* appropriated )* a re!istered firm' re!ardless of
the num)er of the different (ords in the proposed name' unless there is consent from the
re!istered firm of this firm is one of the stoc1holders of partners of the entit* to )e
re!istered,
The name of an internationall* 1no(n forei!n corporation or one similar to it ma* not
)e used )* a domestic corporation (ithout the consent of the former,
The term +Philippines+ (hen used as part of the name of a su)sidiar* corporation of a
forei!n corporation shall )e in parenthesis: i,e, +$Philippines&+ or +$Phil,&+,
The follo(in! (ords shall not )e used as part of a corporate or partnership names:
As provided )* special la(s:
+-inance+' +-inancin!+ or +-inance and nvestment+ )* corporations or partnerships not
en!a!ed in the financin! )usiness $R,A, 67#8' as amended&
+En!ineer+' +En!ineerin!+ or +Architects+ as part of the corporate name $R, A, 69% and
R,A, "6#/&
+Ban1+' +Ban1in!+' +Ban1er+' Buildin! and .oan Association+' Trust Corporation+'
+Trust Compan*+ or (ords of similar import )* corporations or associations not en!a!ed
in )an1in! )usiness, $R,A, ::;' as amended&
+United Nations+ in full or a))reviated form can not )e part of a corporate or partnership
name $R,A, //%&
+Bonded+ for corporations or partnerships (ith unlicensed (arehouse $R,A, /96&
As a matter of polic*:
+nvestment$s&+ )* corporations or partnership not or!ani<ed as investment house
compan* or holdin! compan*,
+National+ )* all stoc1 corporations and partnership,
+Asean+' +Cala)ar<on+ and +Philippines /888+,
The name of a dissolved firm shall not )e allo(ed to )e used )* other firms (ithin three
$:& *ears after the approval of the dissolution of the corporation )* the Commission'
unless allo(ed )* the last stoc1holders representin! at least ma=orit* of the outstandin!
capital stoc1 of the dissolved firm,
Re!istrant corporations or partnership shall su)mit a letter underta1in! to chan!e their
corporate or partnership name in case another person or firm has ac5uired a prior ri!ht to
the use of the said firm name or the same is deceptivel* or confusin!l* similar to one
alread* re!istered unless this underta1in! is alread* included as one of the provisions of
the articles of incorporation or partnership of the re!istrant,
These !uidelines shall ta1e effect fifteen $"6& da*s after pu)lication in a ne(spaper of
!eneral circulation,
>andalu*on! Cit*, 2cto)er /9' /888,
$2ri!inal Si!ned&
..A R, BAUTSTA
Chairperson