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 are the terms of a contract?
an offer and an acceptance.
competent parties
Consideration
Legal subject matter
Mutual agreement/ Assent
Conesus ad idem
Obligation
What are the product categories available when registering with NAFDAC?
The product categories include: Food, Cosmetics, Drug, Medical Device, Agro-Chemicals & Pesticide, Veterinary Products, Vaccines & Biologicals, Herbal and Nutraceuticals and Water
What is classified as personal data?
Name, photograph, personal health/bio information, account/financial information, phone number, Address, date of birth, place of birth, Email address, etc.
Can I grant another person the permission to use my design?
The right of the owner of an industrial design includes the licensing and authorization of another person to use the design.
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.
How many shareholders do I need to start a company?
A minimum of one (1) adult shareholder is required to form a company.
How long does a trademark registration in Nigeria Last?
Trademark is valid for seven years from the date of application but you may renew the application for the trademark for an additional period of 14years.
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