Naming Trusts and Companies A company must have a unique name that is not currently in use. The name is registered with ASIC when the company is set up. Finding a name you like can be very difficult, so it is best to start thinking about it early. Also consider whether you may need a web address and check if that will be available too. Trusts on the other hand are not registered. They are private arrangements and trusts, like children, can have names that are already in use. There may be thousands of “Smith Family Trust” for example. When choosing a name for a trust consider these 2 issues Publicly searchable If someone can find the trust and link it to you they may be able to attack it more easily. Trusts can be searched if they have an ABN by typing the name into the ABN search. Otherwise trusts are private arrangements with their details not available. 2. Distinguishing between various entities which you are involved with. After a few entities are set up it can be confusing sometimes. Having completely different names can help you distinguish. I have seen instances where wrong names have been put on contracts and monies transferred to the wrong accounts. When naming also check the IP Australia database for registered trademarks. Words can be trademarked and this may prevent you from using them. It won’t necessarily prevent you from registering the name, but you or the company could be sued later on and have to give the name up.