A company’s first Annual Returns are due for filing after 18 months of its inception, subsequently it should be filed annually as the name implies. The filing dates could differ for each company depending on their financial year end but must be filed not later than 42 days after its Annual General Meeting.
The Annual Returns for Business Names is due not later than the 30th of June each year except in the year the business was registered.
Must my Company Secretary be a Lawyer?
Although it’s ideal to have a lawyer as a company secretary, it is not compulsory for small private businesses.
What is an execution clause in a contract?
This is the section in which the parties sign the contract or agreement.
Do I have to physically drop off my product sample at NAFDAC office?
No, you can choose to have it sent to NAFDAC office
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 industrial design be protected under copy right law?
Yes, it can be protected under copyright law as a work of Art.
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 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.
Does a trademark search automatically reserve my trademark name?
No, a trademark search does not automatically reserve that which is sought to be trademarked. A search ascertains whether that which is sought to be trademarked is available or violates any existing trademark.
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