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 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

• 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.

• Can I use the data collected legally for one purpose for another purpose?

  No, you can’t use the data collected for one purpose for a different purpose.

• Does a trademark search automatically reserve my trademark name?

  No, a trademark search does not automatically reserve that which is sought to be trademarked. A search ascertains whether that which is sought to be trademarked is available or violates any existing trademark.

• When can I start renewal of the registration of my product(s) with NAFDAC?

  You can start renewal 6 months to the date of expiry.

• 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.

• 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.