Named vs Numbered Corporation
There is no legal difference between a distinctive named and a numbered corporation, both companies offer same liabilities and tax advantages. A “numbered company” is a business corporation that can be incorporated using number without choosing a unique and descriptive name, e.g. 123456 Ontario Inc. If you are thinking of developing and growing your business into a recognizable brand, it would be beneficial to have Named corporation.
How to name a Company?
A corporate name should contain 3 parts with unique and memorable.
MAPLE PLUMBING SERVICES INC.
MAPLE- Distinctive element is a unique identifier
PLUMBING SERVICES- Descriptive element that describes activities.
INC-A legal ending
Why NUANS® Report?
The NUANS® report is a Corporate Name Search that ensures that a proposed corporate name has not already been registered or trademarked, and it is required by the Federal government when you incorporate a business. It is valid for 90 days.
NUANS Report is not required for numbered corporations.
