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. 

• 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.

• What are the benefits of Registering with SON?

  1. Product traceability in the Nigerian market
  2. Detection of counterfeit products
  3. Barriers to the circulation of substandard goods
  4. The official SON Product Registration Logo and number are displayed on registered products.

• What is data protection?

  Data protection is a legal process of protecting sensitive data.

• Do I need permission to copy or use any copyright material in Nigeria?

  You do not require permission under the Nigeria Law to use or copy a copyright material when it is for research purpose, educational, non-commercial purpose, reviews and criticism etc

  However, when the copies are large, you must seek permission from the copyright owner.

• 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.

• How many shareholders do I need to start a company?

  A minimum of one (1) adult shareholder is required to form a company.

• What do I need for a trademark search in Nigeria?

  To do a trademark search you will need the name or/and logo (device) of the trademark to be searched and the Class of the trademark that accurately describes it.