Frequently Asked

• What additional documents do I require to file my Annual Returns?

• 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 a testimonium clause in an agreement?

  This is the part of the agreement where the witness attests to have witnessed the execution of the agreement.

• If I have NAFDAC Registration number, do I still need SON registration number?

  SON Product Registration scheme is mandatory for all SON’s regulated products as mandated by SON Act 56 of 1971, 20 of 1984, 18 of 1990 as amended.

  This is irrespective of the registration done by NAFDAC

• What is personal data?

  This is any information that can be used to identify an identifiable human person such passport photograph.

• What is the difference between licensing and assigning a patent?

  Licensing a patent means granting permission to another individual or organisation to make, use as well as sell the creation that has been protected by patent.

  A patent assignment on the other hand, is a finished exchange of patent rights starting with one individual then onto another person.

• 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.

   

• 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 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.