THE LEGAL FRAMEWORK FOR STARTUPS IN NIGERIA
THE LEGAL FRAMEWORK FOR STARTUPS IN NIGERIA When starting a business in Nigeria it usually involves several legal processes, startups in Nigeria are expected to undergo business registration, intellectual property rights protection, and tax obligations to compile with. Some of the processes are discussed below. 1. Business Registration In Nigeria, the registration process of businesses and companies is governed by the Corporate Affairs Commission (CAC), which is been handled by the accredited agent. The registration process typically involves the following steps: Choose a business name ; the name must be unique and not already registered by another business and its availability must be confirmed. · Determine the Type of Business Entity : You need to decide on which of the types of legal entity that best suits your business intention. It could be Sole Proprietorship, Partnership, Limited Liability Company (LLC) or Public Limited Company (PLC) Prepare and Submit D...