The new Law of Trade Names contributes to regulating the procedures for reserving and recording names in the commercial register, maximizing their value, and protecting them and their rights.
Here are the most important differences between the new and previous law:
1. Unlike the previous law, the trade name may be in a language other than Arabic or consist of letters and numbers.
2. The trade name may be disposed of independently from the establishment by transferring its ownership, while trade names were linked to the establishment and not permitted to be disposed of independently in the previous law.
3. The law sets clear and precise criteria for prohibited names, whereas the previous law had general criteria.
4. The reservation or registration of a trade name is not allowed for an existing establishment, even if the activity is different. In the previous law, the registration of a name that was identical or similar to the name of an existing establishment was allowed if the activity was different.