Which of the following words can be used as a part of a firm name?a)Cr...
The name in which the partners carry on their business is the firm name. A firm name can be anything as long as it does not go against the rules relating to trade name or goodwill. Section 58 (3) of the Indian Partnership Act. 1932 says that “A firm name shall not contain any of the following words, namely – ‘crown’, ‘Emperor’, ‘Empress’, ‘Implied’, ‘King’, ‘Queen’, ‘Royal’, or words expressing or implying the sanction, approach or patronage of government except when the State government signified its consent to the use of such words as part of the firm name by order in writing”.
Which of the following words can be used as a part of a firm name?a)Cr...
Answer:
Introduction:
When choosing a name for a firm, it is important to consider various factors such as brand identity, market positioning, and legal requirements. In this case, we are given four options - Crown, Queen, Royal, and Sterling - and we need to determine which of these words can be used as part of a firm name.
Explanation:
To determine whether a word can be used as part of a firm name, we need to consider its connotations, legal restrictions, and potential conflicts with existing brands. Let's analyze each option:
1. Crown:
The word "Crown" can be associated with royalty, authority, and power. It is often used in the names of businesses and organizations that want to convey a sense of luxury, prestige, or excellence. Examples include Crown Resorts, Crown Plaza Hotels, and Crown Casino. Therefore, "Crown" can be used as part of a firm name.
2. Queen:
The word "Queen" is also associated with royalty and femininity. While it can be used in certain contexts, it may not be suitable for all types of firms. It is important to consider the target audience and the industry in which the firm operates. For example, a firm specializing in women's fashion or beauty products may find "Queen" to be an appropriate choice. However, a firm in a more technical or professional field may prefer a different name. Therefore, "Queen" may or may not be suitable depending on the specific circumstances.
3. Royal:
The word "Royal" is similar to "Crown" in that it conveys a sense of prestige and excellence. It is often used in the names of businesses that want to create an association with royalty or high quality. Examples include Royal Bank of Scotland, Royal Caribbean, and Royal Mail. Therefore, "Royal" can be used as part of a firm name.
4. Sterling:
The word "Sterling" is associated with the British currency and is often used to denote excellence or high quality. It is commonly used in the names of businesses and organizations that want to convey a sense of trust and reliability. Examples include Sterling Bank, Sterling Jewelers, and Sterling Furniture. Therefore, "Sterling" can be used as part of a firm name.
Conclusion:
Out of the four options given, "Crown," "Royal," and "Sterling" can all be used as part of a firm name. The suitability of "Queen" depends on the specific circumstances and target audience of the firm. It is important to consider the connotations, legal restrictions, and potential conflicts with existing brands when choosing a name for a firm.