Most of us have Businesses we would love to register but we don’t know how to go about it.
In this Article, I will show you the right way to go about it.
First of all to be honest with you, it is not only lawyers that can register a business name, you can do it yourself, but it is always advisable for a lawyer to handle it because it may be of future benefits should your business run into some kind of legal issues.
Business Name is under part B of the Company and Allied Matters Act. Here’s how to register a business name.
Here Are The Steps To Follow.
Choose and Reserve a Name – The first step is to decide on what name to use to register your business, the process is done online. You will apply to the Corporate Affairs Commission (CAC) and suggest two alternate names for your business. The CAC will conduct a search in its database to ensure that the name is not already in use or there is no similar name already in use. If the CAC approves the name, then it will reserve the name for you for a 60-day period. During this period it is expected that you will complete the registration process.
Complete the Business Name Registration Forms – As with step 1 above, this can also be completed online. The information required to be completed includes:
-Approved Name of the Business
-General Nature of the Business
-Address of the Business
-Name, Address, Occupation
and other details of the Proprietors of the Business
-Signature of the Proprietors
Payment of CAC Filing Fees – The payment of the fees can be done online or can be completed in a bank.
Submission of Forms – Once the payment has been approved, you may then submit the forms online, the CAC will review the documentation and if all is in order the CAC will then notify you that the application has been approved, and the Business Name Certificate is ready for collection. After that you can now fully run your business with stress.
You can visit the CAC website for more info