LOCAL businesses in the Isle of Man which have not registered with the Companies Registry are being advised to do so.

The Department of Economic Development is reminding the public that any individual, firm or company that conducts business or trading activity under a name other than its own needs to be registered.

Companies Registry has recently compiled a list of around 400 businesses that do not appear to be registered and will be circulating letters to those businesses.

Alan Crowe MLC, political member for the Department of Economic Development with responsibility for Companies Registry, said: "There are numerous benefits to registering a business name and it is in everyone's best interest to register for their own protection. 

"It deters others from using the same name and logo which is often a company's most valuable asset - and the owner has exclusive use of that name in the Isle of Man."

Registering a business with Companies Registry provides official notice to others that a name is already taken. The registry will not allow any other entity that it deems confusingly similar to an existing business name. The registrar also has the authority to take legal action against any businesses using the same name. 

Companies registrar John Wilkinson added: "I would strongly recommend anyone who has not yet registered to contact our team in the Companies Registry either by e-mail or in person at our offices in St George's Court, Douglas. 
 
"Once processed a certificate of registration will be issued to display at your premises showing the business name, place of business and date of registration." 
 
Further information can be obtained from Companies Registry or downloaded from the website www.companiesregistry.gov.im.