Question

Question:

XYZ Corporation is a domestic corporation engaged in the business of manufacturing and selling electronic gadgets. The corporation has been in operation for several years and has built a strong reputation in the industry. Recently, the board of directors of XYZ Corporation made a decision to change the company's name to ABC Corporation. The new name reflects the company's desire to rebrand itself and expand its business operations.

As a law student, you are asked to provide advice to XYZ Corporation regarding the process of changing its corporate name. Discuss the legal requirements, procedures, and effects of changing the name of a juridical person under Philippine law. Cite relevant provisions of the Civil Code, particularly Articles 44-47.