Regulatory Compliance Consulting

It seems that whenever there is a problem in the marketplace the first thing we do is we blame the entrepreneurs, businessmen, and industrial capitalists. Lately, we’ve even come to blame capitalism itself and the free markets, which it embodies it, this is a huge mistake.

You see, as soon as we do this there is an immediate call for more regulation and there is always a podium pushing politician willing to declare that they will fix the problem by increasing regulation, something that never works, but for some reason it always keeps the mindless masses restless and casting their votes for the politician who best plays the blame game.

We do not need more regulation. What we really need is more regulating of our regulators. Further, we need fewer regulators that have never been in business before or participated in free markets, and we need more regulators that have come from the private sector and understand how things actually work in the real world.

It is unfortunate but often true that the regulators think they are solving one problem when in reality they are creating two more; isn’t this nothing more than the law of unintended consequences, and if so how are we the voting public well served by all these shenanigans?

Even a Congressional hearing on regulations does nothing more than spook the market, cause the stock markets to go down, and create fear, unrest and a lack of confidence in the way we do things. All too often regulators will regulate based on what a politician tells them to do, or the way in which the media spins public perception.

In this case all we do is appease the population that probably doesn’t understand capitalism anyway. You see, only 10% of the people that live in our society own their own small businesses. And only about 1% of the people that live in our society are oriented by way of a managerial position or an executive of a company.

We need to draw upon this percentage, the 11%, of the people that understand this. And we need more regulation of the regulators who do not understand free-market capitalism. We must realize that every single turn to create more rules, which lead to more rules on top of that and so on, make us less viable economically. Eventually we have so many rules and regulations that no one knows for sure what they all are as they vary from industry to industry and they are enforced haphazardly or not at all, and then all of a sudden.

No company can plan for the future based on that, no company can estimate their future earnings that way, and their need to buy capital equipment or hire more people. If no company can plan ahead then no company can succeed to the best of their abilities to create a profit to expand their companies.

This is why our economy is hurting right now and until we fix this problem of regulating our regulators, we are not to be breaking any speed records as we climb out of this recession. Please consider this.

When you incorporate a company in Canada you will be required to provide a Nuans name search report or similar name search report for the province or territory you wish to register in.  Some provinces and/or territories will require you to provide a Nuans name search report or a similar name search report when you register a business name, sole proprietorship or partnership as well.  A Nuans name search report or similar name search report will list usually in five pages all of the names that are similar to the name you wish to register.

Some provinces and/or territories, such as Alberta and Ontario, do not require a name search when registering a business name, sole proprietorship or partnership and you are allowed to register any name even if someone else has come along and registered the name first.  However, if you are incorporating you will always be required to provide some form of name search report no matter what Canadian jurisdiction you are registering in.

You must be careful to be very descriptive with your name otherwise if there is a limit on the number of pre-searches that will be done, you may have to pay more for further searches.

The preliminary name search simply helps to ensure that the name you picked has not been taken by another person, partnership or company prior to your ordering a full name search to be used upon registration.

You do not want to have the search house just order the name search and find out after you have paid money that you cannot use the report because there are conflicting names showing up on it.

There is no guarantee that a name search is going to be accepted by a government, even if a search house does the search, because the different jurisdictions in Canada have different rules.  Some jurisdictions such as the eastern provinces, the Yukon and the federal government will even reject a proposed name based on another name already registered that sounds like the name you wish.  You therefore need to have an experienced search house do a preliminary name search for you to cut down the odds of your name being rejected.  If you have chosen a service that provides for unlimited preliminary name searches with the purchase of a name search report then you will save money in the long run.

In cases where you are not required to provide a name search for a business name, sole proprietorship or partnership, you still need to clear the name.  It would be foolish to go ahead and register a name that is the same or similar to another name since this would end up being competition for you.  Further if that business finds out that you have registered the name and they are highly placed in the marketplace they could take you to court to force you to change your name.  The onus is on you to ensure your name is clear.  Do not think that you can just go into the phone book or search over the internet to see if anyone is using the name.  That will not provide you with an accurate listing.  Your name should be checked by a professional since they know how to search the Nuans name database in Canada and will obtain more accurate results.

You can check the name by ordering a name search, however, some search houses will offer for a nominal price a preliminary name search and will clear your name in advance of registration.  This services is great for when you are registering in a province or territory, such as Alberta and Ontario, where a full name search is not required.

Preliminary searches have their limitations. The search provides “exact match” results only. This is why an official NUANS report is required in order to register a corporation. Unique names or names that sound the same and are spelled differently only show up on the full name search. However, the preliminary name search weeds out most of the conflicts in advance and gives you a better chance of not wasting your money by having to re-order the search.