The couple will be launching Archewell in the coming months and reports from The Sun have suggested they plan on including an honours list as part of their work, similar to the Queen's honours, which she gives out twice a year.
A spokesperson has denied the reports, however, a trademark application describes part of the organisations work as "providing recognition and incentives by the way of awards to entities and individuals who have made significant charitable contributions; providing recognition and incentives by the way of awards to demonstrate excellence in the field of community service and charitable giving".
Harry and Meghan are also seeking permission for a trademark for the organisation in relation to clothing, books and magazines.
Press secretary for Archewell, Toya Holness said: "We look forward to sharing more about Archewell’s work in the weeks ahead but any suggestion that it is intended to rival the UK honours list is false."
"Furthermore, the trademark application has followed the normal course of business for the US Trademark process and any suggestion otherwise is also false."
The Archewell website is a simple holding page at the moment and includes the option to sign up to the mailing list for updates.
The pair are said to be in no real rush to launch the organisation as they plan to work on it for the rest of their lives.
It is believed, however, the work the pair has tackled since leaving the royal family earlier this year will be reflected in the organisation when it does launch.
This could potentially include work on racial and gender equity and support for organisations that encourage voter registration.
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