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

  • 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 have a company secretary.

  • 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

     

  • what does copyright protect?
      1. Music, books, brochures and written materials.
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      3. Films and videos.
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  • What will happen if I buy the wrong category of forms with NAFDAC?

    Nothing, the purchased form will be in your account for future use.

     

  • Why do i need a Shareholders Agreement?

    You need a Shareholders Agreement to protect your investment in a company.  The shareholders Agreement establishes a fair relationship between all shareholders and sets out how the company is run.

  • Can I trademark my logo and name separately? Why is this a good idea?

    Yes you can. The advantage is that it gives you the opportunity to have more than one logo or the opportunity to change your logo easily as opposed to registering the name and the logo as one trademark.

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