Atty. Santiago C. Divinagracia

July 19, 1984 Atty. Santiago C. Divinagracia Divinagracia, Billena & Soliva Law Office 2nd Floor, S.C. Divinagracia Bldg. Quezon Street, Iloilo City Sir : This refers to your letter dated February 10, 1984 requesting for the opinion of this Commission on the query posed therein. It appears that your client, B & C Corporation has negotiated the purchase of B. Caperonce Agencia de Empeos, an existing pawnshop in Iloilo City. The deed of sale covering the transaction is subject to the condition that the same should be approved by the Central Bank of the Philippines. The corporation intends to continue the use of the business name of B. Caperonce Agencia de Empeos because of its goodwill and considerable clientele in Iloilo City. As per suggestion of the Department of Financial Intermediaries of the Central Bank you refer to us the question on whether your client can use the existing name of the pawnshop. Please be informed that pursuant to the Memorandum of Agreement dated June 3, 1983, executed between the Securities and Exchange Commission and the Bureau of Domestic Trade (xeroxed copy of which is attached), business names or styles need not be stated in the articles of incorporation or partnership of existing companies. Thus, if B. Caperonce Agencia de Empeos is already registered as a business name with the Bureau of Domestic Trade, we answer your query in the affirmative. prcd Very truly yours, (SGD.) ROSARIO N. LOPEZ Associate Commissioner