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The following post does not create a lawyer-client relationship between Alburo Alburo and Associates Law Offices (or any of its lawyers) and the reader. It is still best for you to engage the services of a lawyer or you may directly contact and consult Alburo Alburo and Associates Law Offices to address your specific legal concerns, if there is any.
Also, the matters contained in the following were written in accordance with the law, rules, and jurisprudence prevailing at the time of writing and posting, and do not include any future developments on the subject matter under discussion.
AT A GLANCE:
It is necessary to register your business with the DTI to provide it with a legal identity and gain the rights to use your business name. However, a business name (BN) registration is not a license to operate a business.
On the other hand, it is essential for a business to register with the SEC in order for them to be treated as a legal or judicial entity.
In the Philippines, the Department of Trade and Industry (DTI) and the Securities and Exchange Commission (SEC) are two distinct government agencies with different functions and areas of responsibility.
The Department of Trade and Industry (DTI) serves as the primary coordinative, promotive, facilitative, and regulatory arm of government for the country’s trade, industry, and investment activities. It acts as catalyst for intensified private sector activity to accelerate and sustain economic growth through a comprehensive industrial growth strategy, a progressive and socially responsible liberalization and deregulation program, and policies designed for the expansion and diversification of both domestic and foreign trade.
The Securities and Exchange Commission (SEC) or the Commission on the other hand is the national government regulatory agency charged with supervision over the corporate sector, the capital market participants, and the securities and investment instruments market, and the protection of the investing public.
What is the difference between DTI Business Registration and SEC Company Registration?
It is necessary to register your business with the DTI to provide it with a legal identity and gain the rights to use your business name. However, a business name (BN) registration is not a license to operate a business.
On the other hand, it is essential for a business to register with the SEC in order for them to be treated as a legal or judicial entity.
In summary, while both the DTI and SEC play crucial roles in the Philippine economy, their functions and areas of expertise are distinct.
Related Article/s:
What is the Securities and Exchange Commission?
How to register your sole proprietorship with the DTI
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Alburo Alburo and Associates Law Offices specializes in business law and labor law consulting. For inquiries regarding legal services, you may reach us at info@alburolaw.com, or dial us at (02)7745-4391/ 0917-5772207/ 09778050020.
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