It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly.
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 are the terms of a contract?
an offer and an acceptance.
competent parties
Consideration
Legal subject matter
Mutual agreement/ Assent
Conesus ad idem
Obligation
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.
What is personal data?
This is any information that can be used to identify an identifiable human person such passport photograph.
Can I grant another person the permission to use my design?
The right of the owner of an industrial design includes the licensing and authorization of another person to use the design.
What are the product categories available when registering with NAFDAC?
The product categories include: Food, Cosmetics, Drug, Medical Device, Agro-Chemicals & Pesticide, Veterinary Products, Vaccines & Biologicals, Herbal and Nutraceuticals and Water
How many shareholders do I need to start a company?
A minimum of two (2) shareholders is required to form a company.
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.
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