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. 

• Do I need a Company Secretary?

  A limited liability company (LLC) must not have a company secretary.

• 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

• If I have NAFDAC Registration number, do I still need SON registration number?

  SON Product Registration scheme is mandatory for all SON’s regulated products as mandated by SON Act 56 of 1971, 20 of 1984, 18 of 1990 as amended.

  This is irrespective of the registration done by NAFDAC

• Can I use the data collected legally for one purpose for another purpose?

  No, you can’t use the data collected for one purpose for a different purpose.

• Who benefits from copyright protection?

  The creator of a copyright work, usually referred to as the “author” of the work owns the copyright in the work in the first instance. However, the author is at liberty to transfer his rights to a third party. In such a case, the person who has obtained the right by transfer or other legal means becomes the owner of the copyright.

• 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.

   

• What is share capital?

  The share capital in a private limited company is the amount of money invested by its owners in exchange for shares of ownership.

• Why do I need a trademark?

  You need to register your trademark because if you don’t register it, someone else can! It helps identify you as the source and indicates a consistent level of quality of your products and services. Securing a registered trademark protects your brand, and provides you with tools to prevent someone else from using similar signs and riding off the back of your business.