Startup – First thing about naming it

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If you decide to open a startup in Romania the first thing that you will need to do is to obtain the name reservation for the new company. As simple this may appear, even if you find a great name doesn’t mean that you can register it as your startup name.

The basic rules for startup names

According to the Romanian law, the start up name must be written in Latin characters, primarily in the Romanian language, and not confused with other companies or previously registered names. It’s very important to know that the exclusive right of use for your startup’s name is acquired only by registering it in the trade register.

You can register a startup name only if it is available and distinctive. Now the real problem begins. The distinctiveness of the company name is appreciated both from the point of view of the writing and words order of the company name.

Distinctiveness is a B***h

To clear things up, the law provides that the following are not elements of distinctiveness:

  1. the articulation of words;
  2. reversing the order of the words that belonged to a registered or reserved company;
  3. doubling one or more of the letters or figures that belonged to a registered or reserved company;
  4. the addition or deletion of adverbs, prepositions, conjunctions, numbers, punctuation marks;
  5. abbreviations that are not likely to change the meaning of the designation;
  6. the use of different words from a semantic point of view, but with the same phonetics, or abbreviations of the words belonging to a registered or reserved company; or symbols equivalent to letters and words, for example, @, #,% etc .;
  7. the use / non-use of diacritics;
  8. adding, removing or replacing a part of the registered or reserved name;
  9. the use of the words “group”, “holding”, “company”, “trust”, “com”;
  10. adding the word “Romania” regardless of the language used.

If you need any details regarding the name reservation, please use our contact page.

Quick service for accessing information on companies in insolvency

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Free services for checking up companies

Did you know that in Romania you may access free information on companies in insolvency from seven EU Member States? The Romanian Trade Register Office has implemented a quick service for accessing this kind of information.

Furthermore, this service is free of tax. Also, it was developed in a project run by the European Commission in collaboration with the insolvency registers of Austria, the Czech Republic, Estonia, Germany, the Netherlands, Romania and Slovenia.

Thus, the free information regards businesses that are subject to insolvency proceedings registered in the national registers of the above mentioned states. The information can be found here.

Check your business partners!

So, if you want to create a start up or if you want to finance a business in the U.E., using this service you may check your potential and current business partners by quickly accessing up-to-date and real-time information.

Also, the Romanian Trade Register Office offers free information regarding the companies mentioned in the Insolvency Proceedings Bulletin.  This information regards:

  • the name of the debtor;
  • the unique tax identification code;
  • the registration number;
  • the name of the procedural document published in the Insolvency Proceedings Bulletin;
  • the procedural document;
  • the number and date of the court file;
  • the court;
  • the bulletin number and the date of publication.

New regulations in real estate

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Real estate market growth brings new rules for building reception

Lately, the real estate market has grown. Existing constructions are selling rapidly and investors have begun new residential projects. In this context, it is good to know what changes have occurred with regard to building reception.

The Romanian Government has approved the changing of H.G. no. 273/1994 regarding the reception of the construction works and related installations.

According to the new provisions the reception commission can no longer recommend postponing the reception but only admitting or rejecting the reception.

The new regulations do not apply to constructions for which the final reception is in progress when the new regulations enters into force.

However, the commission make the final reception according to the new regulations if previously  was made a reception with objections.

The recommendation below are very important!

The Reception Commission issues a decision that is not just a recommendation. Within 3 days the investor endorses the admission or rejection of the reception and signs the minutes at the end of the works.

If you are the investor but do not own the property, you must deliver to the owner the received construction.

Please note that you can’t use the building if the commission rejects the reception. In order to use the building you must make all the necessary remedies. Until then, you must put the building in a state of conservation by your care and expense.

If you are the the real estate owner you must organize the final reception within 10 days after the expiration of the warranty period.

Cum pot antreprenorii români să iasă cu business-ul lor peste graniță

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Cât de multe companii românești au curajul să se extindă cu business-ul peste granițele țării? Aceasta este una dintre întrebarile dezbătute la evenimentul “Cum pot antreprenorii români să iasă cu business-ul lor peste graniță”, eveniment  la care echipa Start Lawyers a participat.

Antreprenori de succes și reprezentanți ai Guvernului României au vorbit despre provocările pe care firmele românești le întâmpină și modalitatea în care ele ar putea fi depășite.

Datele statistice arată că 22000 companii românești au avut în anul 2016 activitate de export, cu o valoare a exporturilor de 57,3 miliarde de euro, Automobile Dacia fiind cel mai mare exportator. Pe de altă parte, 83000 companii au avut activități de import, cel mai mare importator fiind tot Automobile Dacia.

Dar cum se poate efectua extinderea unei companii în alte state?

Speakerii au răspuns la această întrebare indicând două posibilități: fie prin cumpărarea unei firme deja existente pe piata externă, cu avantajul personalului achiziționat la pachet, fie prin deschiderea unui start-up, cu avantajul că nu trebuie continuat un business care deja a fost început de către altcineva.

Pentru evitarea riscului de eșec antreprenorii trebuie să cunoască foarte bine următoarele:

  • unde doresc să se extindă;
  • cu ce fel de produse doresc să se extindă;
  • ce fel de public țintesc;
  • ce buget au pentru extindere.

De asemenea,  este nevoie ca mai înainte de extindere aceștia să studieze bine piața respectivă și să fie foarte bine informați cu privire la modalitatea de a face afaceri acolo.  Buna înțelegere a riscurilor externe și a nevoii capitalului de muncă al lor reprezintă avantaje care nu sunt de neglijat. Un aspect important îl constituie și contactele deținute în țara respectivă cum ar fi prietenii sau chiar ambasadele care îi pot îndruma și pune în legatură cu alte persoane din domeniu, ce le pot facilita accesul pe piața respectivă.

În plus, o analiză importantă pentru extindere pe altă piață este cea SWOT, analiză care în acest caz se aplică simultan atât pe plan intern, la nivel de companie  (despre punctele tari și slabe ale companiei – SW), cât și pe plan extern (despre oportunitățile pieței noi, dar și pericolele acesteia ce pot afecta afacerea – OT).

Echipa Start Lawyers participă activ la evenimente, seminarii, conferințe în domenii de interes ale clienților noștri pentru că ne dorim să fim la zi cu informațiile, astfel încât să oferim cele mai bune sfaturi și să ne îmbunătățim continuu cunoștințele.