Frequently Asked

• Why must I file Annual Returns?

  It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 

• 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.

• 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

• What are the penalties for not registering my products with the SON?

  1. Seizure of goods by the Inspectorate and Compliance Directorate
  2. Payment of a fine.
  3. Prosecution

   

• What is data protection?

  Data protection is a legal process of protecting sensitive data.

• What is eligible for Patent registration?

  Patents are granted for the invention of products or processes. However, for it to be patentable, the invention

  • Must be new,
  • Must have an inventive step that is not obvious to someone with knowledge and experience in the subject,
  • Must be capable of being made or used in some kind of industry and not be, a scientific or mathematical discovery, theory or method, a literary, dramatic, musical or artistic work, a way of performing a mental act, playing a game or doing business, the presentation of information, or some computer programs, an animal or plant variety, a method of medical treatment or diagnosis,
  • And must not be against public policy or morality.

• What will happen if I buy the wrong category of forms with NAFDAC?

  Nothing, the purchased form will be in your account for future use.

   

• How many shareholders do I need to start a company?

  A minimum of one (1) adult shareholder is required to form a company.

• Does Trademark registration protect my website domain name?

  Yes, it does.