04 Dec


What's the purpose of the NUANS report? The NUANS report lists similar existing companies, corporations and trade names to the selected company name you wish to utilize to open your new company. In most jurisdictions where a NUANS report is required in order to open a limited liability corporation, the governing authority within that jurisdiction will carefully review the NUANS report performed by the applicant's underwriters to match the same or similar sounding name to the business entity sought to be opened. In many cases, the governing authority will require an applicant to re-filed using a different name using the same NUANS report that was originally filed. It is also possible that the governing authority may request a change of ownership registration number for the NUANS report on a regular basis in an effort to avoid repetition of business name disputes with other jurisdictions. Visit www.opstart.ca for more info about business names.
How are the costs associated with filing a NUANS report? The actual filing fee usually varies from one jurisdiction to the next. Generally speaking, a complete and comprehensive NUANS report which includes the completed NUANS reports for all of the required registrations and re-filing is likely to cost between ten and fifteen hundred dollars. The costs associated with the submission of completed registrations and re-filing with the appropriate authorities vary by jurisdiction. In the vast majority of jurisdictions, it is typically unnecessary for applicants to pay a fee to be admitted to file a complete NUANS report when they are submitting registration and re-filing fees on their own. In addition, when a NUANS report is requested by the regulatory body responsible for regulating the industry within which the company wishes to operate, it is usually unnecessary for the applicant to pay the applicable NUANS reporting fees even when they are responsible for submitting the completed registrations and filings on their own. Visit this website to learn more about NUANS.
How are business name disputes resolved when there is a question of whether a new business name should be filed? If a business name dispute arises due to a NUANS report submitted to a regulatory authority responsible for issuing business names, the parties involved (the regulatory authority, client, registrant, and applicant) may enter into an agreement allowing for an expedited NUANS report submission. Agreements may also provide for an additional administrative fee. If a party is unable to resolve the dispute through agreement, the case will be heard by a panel of three judges (or experts who have expertise in the area reviewing NUANS reports). From the date that a decision is made in a case involving a new business name, the parties must provide the appropriate evidence to support their positions and submit relevant documents to support their positions on appeal.
How is a NUANS report issued? After receipt of an application or request for a NUANS report under the Office of the Superintendent of Bankruptcy (OSB), the provincial government examiners will begin the process of investigating the application. The provincial government examiners will review the application to identify any errors and if necessary make recommendations for correcting the problems identified in the NUANS report. Once the provincial government examiners determine that the NUANS report is accurate, they will notify the applicant and request the report be sent to them for review.
What does a NUANS report contain? The contents of a NUANS report are not confidential or privileged, just as a business name report is not privileged. However, once the provincial government examiners determine that a NUANS report is accurate, they will inform the applicant that they have been notified that a complaint has been filed against them concerning their use of their business name in connection with their charity. The applicant then has 60 days to respond whether they agree to correct the mistake or file a counter-claim.
If a charity has been accused of NUANS fraud, they must prove that no such complaints have ever been made before. In addition to proving that no such complaints have been received, the charity must also show that no NUANS report was available at all to anyone other than themselves, in this case, it is the Canadian Charity Information Centre (Charity Information Centre). By following these steps an individual who is concerned with establishing a new business in Canada, or a charitable organization with an existing NUANS report, can ensure that the accuracy of their database will never be in question. Click here for more info about a business: https://en.wikipedia.org/wiki/Business.

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