The DTI explained, any business name which has expired after its five-year effectivity and is not renewed within six months would be cancelled from the record upon publication of notice in a newspaper of general circulation.
This means that business names which have been valid until Dec. 31, 2005 would be removed automatically from DTI’s business name database effective July 1, 2006.
The official announcement was published in two major newspapers on June 14, 2006.
Trade Undersecretary Zenaida Cuison Maglaya elaborated that, "through registration, a company is given the priority right to a specific name for five years, so no other firm may be allowed to use an identical or similar name during that period."
Maglaya said this helps to establish the company’s identity among the multitude of existing business names.
"On the other hand, it is the company’s responsibility to protect and maintain its identity by means of renewal," she stressed.
DTI-Bureau of Trade Regulation and Consumer Protection (BTRCP) Director Victorio Mario A. Dimagiba added that, "an expired business name not renewed within the prescribed period can already be registered by another person."
Dimagiba explained that if the former business name owner persists to use a name illegitimately, the new owner has the full right to prohibit it.
Applications for renewal can be filed at the DTI Provincial Office where the business is located, or online through the DTI website: www.business.gov.ph.
Applicants from Metro Manila can also register at satellite registration centers located in various city halls and SM malls.
Requirements for single proprietors are: original copy of business name certificate, two 2x2 ID pictures bearing the applicant’s signature at the back, registration fee of P300 and P15 for documentary stamp.
If the application for renewal is filed after three months from the certificate’s expiration, a P100 surcharge would be added to the registration fee.