Significance of a Company Seal

Significance of a Company Seal

May 09, 2019

A companyseal(sometimes referred to as the corporate sealor common seal) is an official sealused by a company. It is a stampor embossed emblemthat represents the companyand its legalname. It is significant in the sense that it serves as a means of authentication on documents prepared by a company. A company seal is to a company what a signature is to a person. This means that for every time a company seal is attached to a document, it shows on face value that the document was indeed prepared by the company.

A company’s official mark may be embossed on paper, envelopes and other legal documents to serve as evidence of the company’s legal existence. The use of the company seal is largely regulated by the Articles of Association of the company as stated in section 74 of the Companies and Allied Matters Act cap C20 LFN 2004 (CAMA).

In conclusion, the company seal is very important and can be used on authentication of business transactions in foreign countries (See section 75(2) of the Companies and Allied Matters Act cap C20 LFN 2004), authentication of documents used in appointing an agent for the company, authentication of a deed prepared by a company etc.

 

Do you need a Company Seal? Or you have any question or clarification regarding the topic in this post that was not answered/provided? Do you have questions regarding what the law states about a particular legal issue? Log on to our website – www.618bees.comor call us on 012803791 to speak to any of our consultants that are always on hand to provide answers to such questions.

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached.

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Frequently Asked

  • When are Annual Returns due for filing?

    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.

  • 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. 

  • 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.

  • 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.

  • What is a trademark?

    A trademark can be any word, sign, symbol or graphic that you apply to your company, goods or services to distinguish them from those of your competitors; for example, a brand, product or company name, or logo. The trademark serves as a badge of origin for your business and its brands and products, and can consist of words, logos, slogans, colours and shapes, or a combination of all of these.

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