Frequently Asked

• What additional documents do I require to file my Annual Returns?

• What’s the difference between a business name and an LLC?

  • A business name is a sole proprietorship, usually owned and managed by one individual only. Legally, the sole proprietor and his business are one. It simply means an individual trading with an alias. The sole proprietor is personally liable for all business related obligations.

  • A limited liability company on the other hand is a separate business entity from the individuals that hold its shares and act as directors. Legally, it’s a separate business entity and a person on its own who can transact business, own property separate from its owners and can sue or be sued. 

• Why is mutual assent important in a contract?

  This is one of the key elements of a contract because is shows the meeting of the minds of both parties

• When can I start renewal of the registration of my product(s) with NAFDAC?

  You can start renewal 6 months to the date of expiry.

• What is data protection?

  Data protection is a legal process of protecting sensitive data.

• Does copyright protect website Domain names?

  No, copyright does not protect domain names.

• Is there a penalty for late renewal of registration of products with NAFDAC?

  Yes, there is a late renewal fee, which is dependent on the category of the product.

• What is the first thing I must do to register a business in Nigeria?

  To register a business in Nigeria; you would need to conduct a name search of the business. You can achieve this using your CAC-CRP account.

• Will my trademark registration in Nigeria protect me worldwide?

  No, all intellectual property (IP) rights which includes trademarks are territorial, which means you are protected in the countries in which you register them.