We have had clients ask us “why we’ve changed our business name and if we are still with Genesys Wealth Advisers?”.
We were in the process of updating our marketing and stationery material. Also we made a decision to market and promote our company name more prominently. We are still licensed through Genesys Wealth Advisers.
We decided it was best to trademark our name before we updated our material and engaged a specialist Trademark Solicitor to register our trademark name. When the process commenced, it was found that part of our name of NextGen Wealth Solutions was already trademarked by a large fund manager and we were not able to trademark our company name. We had no ownership rights to our company name.
It is assumed that registering a business or company name gives you exclusive ownership of your business/company name. Unfortunately, this is not true. Any organisation could register a trademark in the name you are trading which then effectively stops you from using your business/company name.
One way of avoiding a name already trademarked, is to choose a name that is unique and unlike any other name in the industry. So we put it to our staff, a competition and to come up with a new name. We had quite a number of novel entries such as RamShorte. We chose Verante because it was unique and is made up of a combination of words such as Vero which is derived from the Latin verb meaning true, to be sure, reliable.
We are happy to say that Verante Pty Ltd is now trademarked.