Q: Let's say I open a business and call it Hot Buns Bakeshop, with all the proper registrations and permits. A few weeks later, if I put up a fitness gym, can I use the same name, Hot Buns, that I've already registered with the DTI, to name my gym? And if I still add a third business to my small empire, for example a restaurant, can all three businesses use the same business name? And can these three businesses share the books of accounts?

A: Yes, the same business name may be used for a number of businesses, provided that the owner of all those businesses is one and the same person. An example is the business name "Virgin" with which the British entrepreneur Richard Branson has named his businesses, among them Virgin Airways and Virgin Records.

The requirement of registering your business name is for your own protection. Registration ensures that no other person will thereafter be allowed to use that same business name, but it does not preclude your using the same name for another business owned by you.

As to your second question, the answer is no, they cannot share books of accounts. Each business should have its own books of accounts. All corporations, partnerships, or sole proprietorships that are required by law to pay taxes are required to keep a journal and a ledger. Since your customers in one business are not the same as in your other businesses, it makes sense that each business should have its own accounting. Furthermore, you should have separate books of accounts for every branch of every business that you own.

Reeza Singzon is a lawyer specializing in civil, commercial, and labor law. Before becoming a lawyer, she worked in media for more than 10 years, writing and producing news programs for TV and working as an editor and columnist for a newspaper. For questions or comments, Atty. Reeza may be reached at reeza.singzon@gmail.com, or post your own legal question here.