There is a legal process to be observed when registering a new company, whether in Thailand or any country in the world in general. There may be some minor differences in the laws that govern business registrations from one country to another, but the overall process remains the same.
As a businessman, it pays to be aware of what you need to be registering with the relevant authorities before you even begin the process. Without further adieu, let us discuss a few concerns that should be at the top of the list of any entrepreneur looking to start a business in Thailand, or in any country.
Business Registration
First of all, a business needs to register its details with the relevant government authority in charge of such a concern. It has to register its business name, to make sure that there is no other business carrying the same name and to keep other businesses from using the same name as well. It also needs to register its business address, and other relevant information. Separately, after registering the business name, the company needs to have its tax identity registered so it can be taxed.
Depending on the nature of the business, the company also needs to secure the necessary permits from the government of the locality where it intends to operate.
Intellectual Property
If the business has processes, systems, and products that needs to be protected from the competition, then that should be filed and registered under the country’s intellectual property laws. IP laws provide exclusivity to a business’ inventions and processes, as well as trademarks, to keep the competition from imitating those without the originator’s consent.
Having intellectual property protection also gives the inventor, or the company itself, to make available its inventions to interested third parties in exchange for a monetary settlement for a license. In other words, IP protection gives a company the authority over its IP portfolio and to enforce its own rules over the use of its inventions and creations by third parties.
Domain Registration
In this age where the Internet is at the center of nearly everything, getting your own domain name reserved and registered is very important. This is the online version of establishing your brand. No one must be able to take your own brand name and use it for their own purposes in the Internet. For instance, your competitors must not be able to hijack your brand name. Thus, it is important to protect your domain name even before you think about getting a website done.
Fortunately, domain registration is an easy process, and also very cheap. There are many hosting and domain registration services online. Payment options vary as well, from credit card to bank transfer to electronic payment systems like PayPal, Apple Pay and many others.
Business registration is never an easy task, but having an understanding of what needs to be done should make the concern more manageable. With the help of a legal advisor, a businessman can easily incorporate his business entity with no snags with the law.
