Frequently Asked

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

• Do I need a Company Secretary?

  A limited liability company (LLC) must not have a company secretary.

• Why is mutual assent important in a contract?

  This is one of the key elements of a contract because is shows the meeting of the minds of both parties

• Can I process/register multiple products at NAFDAC at the same time?

  Yes, you can process/register multiple products at the same time

• Is it legal to transfer the personal data you obtained legally to another person?

  No, its not legal. This is because the law prohibits anyone from transferring the data of a third party to another person without consent from the third party to do same even if the data was rightfully obtained in the first instance.

• How long does the registration of an industrial design last?

  It is effective for an initial period of 5 years from the date of the application for registration and renewable for two consecutive periods of 5 years

• 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.

• 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.

• 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.