The only way to protect your business name is through trademark registration. Many traders make the mistake of thinking that registered their business or company name with ASIC grants them the exclusive rights to that name. However, ASIC does not prevent others from using similar names, or protect you from infringement cases by other traders. Without Australian trademark registration, you might find yourself in breach of a registered trademark or limited in your commercial use of your name due to prior registration by another trader.
A trademark is any word, phrase, symbol, or design that ascertains and differentiates the source of goods or services of one trader from those of their competition. Registered trademarks come with the exclusive right to the use of that mark, as well as the right to take legal action against infringing parties. Registered trademarks are items of intellectual property and can be bought, sold, or licensed to third parties.