That's according to law firm McGrigors LLP, which says changes to the Companies Act 2006 will make it easier for companies to challenge the practice of 'brand squatting'. The practice involves company names being registered opportunistically and then sold back to the 'rightful' owner, often at a hefty price.

Previously there was no legislation available to brand owners to challenge the opportunistic registration of a company name. As of 1 October, company names may be forced to change on the grounds that they are the same or similar those in use as a brand name.