Can a minor be a Proprietor?

Can a minor be a Proprietor?

February 19, 2020

A proprietor is the Legal name for a person who owns a business Name that is duly registered with the Corporate Affairs Commission.

A minor is a person who is under the age of eighteen (18).  A minor can be a proprietor in a registered business individually or in partnership with another adult, provided that in registering the business name, he/shegets an attestation from a magistrate, legal practitioner, or a police officer of or above the rank of Assistant Superintendent of Police. See section 574(6) ofthe Companies and Allied Matters Act, 2004.

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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. 
  • What is a testimonium clause in an agreement?

    This is the part of the agreement where the witness attests to have witnessed the execution of the agreement.
  • 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

     
  • 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.
  • Is my copyright registration in Nigeria protected globally?

    The nature of copyright is territorial, so the copyright work is only protected in the country of registration
  • Do I have to physically drop off my product sample at NAFDAC office?

    No, you can choose to have it sent to NAFDAC office
  • Can a minor be a company director?

    No, a minor cannot be a director. A minor under Nigerian Law is anyone who is below 18 years of age.
  • 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.
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