College of Business and Accountancy buddies Dagul, Dodong, Dick, Daday, and Didang registered with the Securities and Exchange Commission (SEC) in the early 2000 a business organization which they called 5D Corporation. The business functioned well that it created billionaires among the college buddies. As the incorporators became richer and richer, they likewise became mature that they contemplated of including in their corporate operation the charitable activities as their way of sharing the blessings. They also would like their company name to be reflective of their Filipino roots. However, they are mindful that they need to make the necessary amendments on the Articles of Incorporation in order to place everything in the proper order.

a. Can the 5D Corporation be amended to 5D Filipino Corporation?

b. Granting that the change of name is allowed, what is the effect of the change of name to the corporation?