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

• What is SON?

  SON stands for ‘Standards Organization of Nigeria’

• 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.

• Will my trademark registration in Nigeria protect me worldwide?

  No, all intellectual property (IP) rights which includes trademarks are territorial, which means you are protected in the countries in which you register them.

• 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.

• 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. 

• How long does a trademark registration in Nigeria Last?

  Trademark is valid for seven years from the date of application but you may renew the application for the trademark for an additional period of 14years.