Businesses will now register and renew their name nationally via an online process administered by the Australian Securities and Investments Commission (ASIC).
The new system, which commenced on Monday, will replace state and territory services.
“Generally, existing registered business names in the states and territories were automatically transferred to the new register,” ASIC said.
“Existing business name holders do not need to do a thing. We will contact existing business name holders when it is time to renew their name.”
NSW Fair Trading Commissioner Rod Stowe said business name renewals that were due before 28 May 2012 should be lodged with NSW Fair Trading to ensure the business name is transferred to the national register.
According to NSW Fair Trading, there will also be a linked process for registering for an Australian Business Number (ABN) and a national business name, the two most common registrations when starting a business.
“Businesses will also be able to follow links to TM Check, the simplified Australian trade mark search, as well as domain name searches, which can help when people are choosing business names,” NSW Fair Trading said.
“Business name registration allows consumers to find out who is behind a business name.
“Consumers will be able to search online free of charge for the entity behind any business name currently registered in Australia.”
ASIC said the cost of registering a business name using the new system is now $30 for one year or $70 for three years.
More information about the service can be sourced from here.