Entity created by law recognized to have distinct identity, legal personality, duties and rights.

helps creating professional image, has credibility and ensure legl protection of the name

since the business and the owner itself are legally treated as one

sole proprietorship partnership joint account (accidental partnership) business trust joint venture corporation cooperative

an entity that is owned and governed by 1 person only. Law does not vest juridical personality in it and treated the business and the owner itself as one.

defined as any name other than the individual's true name that is used or signed in connection with his business on any written/printed receipts, any written/printed evidence of agreement or business transaction and any billboard in plain view announcing his business

* the entrepreneur is required to authenticate his BN in DTI's Bureau of Regulation Trade and Consumer Protection * legal entities does not need to register BN that are registered already in SEC. However they must register the same name if they use different name for their business * Prohibited Names * need separate registration of the BN for the Branch or satellite office and the BN name registered in the branch or the satellite office should be similar to the main office

*name or nature of the business if offensive, illegal, scandalous and contrary to proprietary *BN that is identical or has resemblance in any registered BN in SEC, DOLE, DFA, DTI or any government office authorized by law to register names *names are purely generic or geographic words *names in which by law or regulation cannot be appropriated *names, terms, words, expression that appoints to or recommend any category of goods, articles, merchandise or service *names or abbreviation of BN that is used by the government in its governmental functions *names of abbreviation of BN of any nation, inter-governmental or international organization * names that are deceptive or misleading or which misinterpret the nature of the business

goal is to avoid public confusion and errors in taking account of: nature of business product service handheld location/place of business dominant words use of descriptive words spelling, sound, meaning

as to individual, they are those who have the capacity to engage in commerce and habitually devote themselves to it

at least 18 yrs old must have free disposition of his property must habitually involved themselves in commerce

defines as exhange of goods or services between individuals or entities usually on large scale

repetition and continuation of commercial acts that they are related to each other by the reason of commercial purpose. can also be shown if he manifest the intention to habitually engage in commerce

the moment a person who inteds to engage in business announces an establishment which has for its object some commercial acts.

to protect the integrity of business practices, ensure compliance with legal and ethical standards, and safeguard public interests. These measures are designed to promote fairness, transparency, and trust in the marketplace

Absolute- Extends throughout the Philippines Relative- Extends only to the territory where the officer is exercising his functions

Absolute •Persons sentenced to the penalty of civil interdiction •Persons who have been declared bankrupt •Persons who, on account of laws or special provisions, may not engage in commerce Relative • Justices, judges and prosecutors; • Administrative, economic or military heads of districts, provinces or posts; • Those employed in the collection and administration of funds of the State; • Stock and commercial brokers of whatever class; and • Those disqualified under special laws.

Absolute - effect of act is null and void Relative- Effect is to subject the violator to disciplinary action or punishment

Senators and Congressmen •The President, Vice President, Members of the Cabinet, and their Deputies or Assistants •Member of the Constitutional Commission •President, Vice President, Members of the Cabinet, Congress, Supreme Court and the •Constitutional Commission, Ombudsman during their tenure •Practice of Profession

A joint account is a bank or brokerage account shared by two or more individuals. Joint account holders have equal access to funds but also share equal responsibility for any fees or charges incurred.

the existence of which was only known to those who had an interest in the same, being no mutual agreements between the partners and without a corporate name indicating to the public in some way that there were other people besides the one who ostensibly managed and conducted the business.

Joint account takes place when a third person is financially interested in the business of a merchant but does not give rise to the creation of juridical personalit