Question: Can a single individual incorporate a private company in Nigeria?
Answer: Yes. The amended Companies and Allied Matters Act, 2020 now allows a single individual to form and incorporate a private company in Nigeria. You therefore no longer have to source for nominees to act as a second shareholder to establish a corporate presence in Nigeria.
Question: Is a Non-Disclosure Agreement (NDA) important for my business dealings with my prospective business partners?
Answer: An NDA is an agreement that protects confidential information that is shared between two or more individuals for the sake of a business arrangement. An NDA is extremely important because the NDA defines what information is considered ‘confidential’ so you and your prospective business partners do not unwittingly divulge such information to third parties. An NDA also sets and enforces consequences when such confidential information are unlawfully disseminated. For more information on this, contact us today.
Question: Must I register my work to enjoy copyright protection in Nigeria?
Answer: There is no requirement for registration under the Nigerian Copyright Act, before an original work can enjoy protection. However,such work must satisfy the requirements of a copyrightable work. For more information on these requirements, reach out to speak with us.
Question: Can I purchase a property in Nigeria for my business?
Answer: Absolutely! However, it is imperative that the property in question is subjected to a wide range of due diligence tests to ascertain the current ownership and ensure that the property is suitable for a subsequent transaction.