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.

• What is an execution clause in a contract?

  This is the section in which the parties sign the contract or agreement.

• What are the benefits of Registering with SON?

  1. Product traceability in the Nigerian market
  2. Detection of counterfeit products
  3. Barriers to the circulation of substandard goods
  4. The official SON Product Registration Logo and number are displayed on registered products.

• 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.

• Why should I protect an industrial design?

  1. It gives commercial value to the owner.
  2. It protects the owner of the design from imitation of the design..
  3. It constitutes an asset of the company and it helps in fair return on investment.

• 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.

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

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

• 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.