REVISED GUIDELINES IN THE APPROVAL OF CORPORATE AND PARTNERSHIP NAMES

In implementing Section 18 of the Corporation Code of the
Philippines (BP 68), the following revised guidelines in the approval of
corporate and partnership names are hereby adopted for the information
and guidance of all concerned:

1.         The corporate name shall contain the word “Corporation” or its abbreviation “Corp.” or “Incorporated”, or “Inc.”.

The partnership name shall contain the word “Company” or “Co.”.
For limited partnership, the word “Limited” or “Ltd.” shall be included.
In case of professional partnership, the word “Company” need not be
used:

2.         Terms descriptive of a business in the name shall be
indicative of the primary purpose. If there are two (2) descriptive
terms, the first shall refer to the primary purpose and the second shall
refer to one of the secondary purposes.

3.         The name shall not be identical, misleading or
confusingly similar to one already registered by another corporation or
partnership with the Commission or a sole proprietorship registered with
the Department of Trade and Industry.

If the proposed name is similar to the name of a registered firm,
the proposed name must contain at least one distinctive word different
from the name of the company already registered.

4.         Business or tradename of any firm which is different
from its corporate or partnership name shall be indicated in the
articles of incorporation or partnership of said firm.

5.         Tradename or trademark duly registered with the
Intellectual Property Office can not be used as part of a corporate or
partnership name without the consent of the owner of such tradename or
trademark.

6.         If 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 be submitted except if that person is a stockholder, member,
partner or a declared national hero. If such person can not be
identified or non-existent, an explanation for the use of such name
shall be required.

7.         The meaning of initials in the name shall be disclosed in writing by the registrant.

8.         Name containing a term descriptive of a business
different from the business of a registered company whose name also
bears similar term(s) used by the former may be allowed.

9.         The name should not be patently deceptive, confusing or contrary to existing laws.

10.       The name which contains a word identical to a word in a
registered name shall not be allowed if such word is coined or already
appropriated by a registered firm, regardless of the number of the
different words in the proposed name, unless there is consent from the
registered firm or this firm is one of the stockholders or partners of
the entity to be registered.

11.       The name of an internationally known foreign corporation
or one similar to it may not be used by a domestic corporation without
the consent of the former.

12.       The term “Philippines” when used as part of the name of a
subsidiary corporation of a foreign corporation shall be in
parenthesis: i.e. “(Philippines)” or “(Phil.)”.

13.       The following words shall not be used as part of a corporate or partnership names:

a.  As provided by special laws:

1.       “Finance”, “Financing” or “Finance and Investment” by
corporations or partnerships not engaged in the financing business
(R.A. 5980, as amended)

2.       “Engineer”, “Engineering” or “Architects” as part of the corporate name (R.A. 546 and R.A. 1582)

3.       “Bank”, “Banking”, “Banker”, “Building and Loan
Association”, “Savings and Loan Association”, “Trust Corporation”,
“Trust Company” or words of similar import by corporations or
associations not engaged in banking business. (R.A. 337, as amended)

4.       “United Nations” in full or abbreviated form can not be part of a corporate or partnership name (R.A. 266)

5.       “Bonded” for corporations or partnerships with unlicensed warehouse (RA 245)

b.  As a matter of policy:

1.       “Investment(s)” by corporations or partnerships not
organized as investment house, investment company or a holding company.

2.       “National” by all stock corporations and partnership.

3.       “Asean”, “Calabarzon” and “Philippines 2000”.

14.       The name of a dissolved firm shall not be allowed to be
used by other firms within three (3) years after the approval of the
dissolution of the corporation by the Commission, unless allowed by the
last stockholders representing at least majority of the outstanding
capital stock of the dissolved firm.

15.       Registrant corporations or partnership shall submit a
letter undertaking to change their corporate or partnership name in case
another person or firm has acquired a prior right to the use of the
said firm name or the same is deceptively or confusingly similar to one
already registered unless this undertaking is already included as one of
the provisions of the articles of incorporation or partnership of the
registrant.

These guidelines shall take effect fifteen (15) days after publication in a newspaper of general circulation.

Adopted: 24 Oct. 2000

(SGD.) LILIA R. BAUTISTA
Chairperson