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Firm name

A firm is a collection of partners. A firm is not a legal person and does not have a separate legal entity distinct from its members. Hence, it cannot possess any property or employ servants; neither can it be a debtor or a creditor. It cannot sue or be sued by others. The rights and obligations of a firm, in reality, are the rights and obligations of the partners who compose the firm. So, when a firm is referred to, it is the individual partners who are being referred to.
The partners of a firm may carry on a business under any name and style which they please to adopt. But certain names can be used only with the approval of the State Government.
  • The firm’s name should not be very similar or identical to the name of an existing firm, or to the trademark, etc. of a firm doing a similar business
  • According to Sec. 58(3), “A firm’s name shall not contain any of the following words, namely-‘Crown’, ‘Emperor’, ‘Empress’, ‘Imperial’, ‘King’, ‘Queen’, ‘Royal’, or words expressing or implying the sanction, approval or patronage of government except, when the government signifies its consent, to the use of such words as a part of the firm’s name by order in writing”..

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