SHORT ANALYSES OF THE EMPLOYEE COMPENSATION ACT, 2010.

The Employee Compensation Act, 2010 (the Act) is the extant law governing the payment of compensation to all employees both in the public and private sector except members of the armed forces. It mandates all employers to contribute 1% of the total monthly payroll into the compensation fund and entitles all employees to claim compensationContinue reading “SHORT ANALYSES OF THE EMPLOYEE COMPENSATION ACT, 2010.”

INTELLECTUAL PROPERTY SERIES: PATENTS AND DESIGNS

Patent is an exclusive right granted to confer legal protection on an invention for a given period, which exclusive right expressly excludes others from making, using, or selling said invention in the country from which it is obtained without permission or consent during the existence of the patent. Patent in Nigeria is regulated by theContinue reading “INTELLECTUAL PROPERTY SERIES: PATENTS AND DESIGNS”

INTELLECTUAL PROPERTY SERIES: WHAT YOU NEED TO KNOW ABOUT TRADEMARK

A trademark, according to Wikipedia is a type of intellectual property consisting of a recognizable sign, design, or expression which identifies products or services of a particular source from those of others, although trademarks used to identify services are usually called service marks.

The trademark owner can be an individual, business organization, or any legal entity. –>

WHAT YOU NEED TO KNOW ABOUT EMPLOYMENT CONTRACTS

An employment contract also known as contract of employment is an agreement that covers the working relationship between an employer and an employee. It allows both parties to clearly understand their obligations, responsibilities and the terms of employment. An employment contract must clearly define all terms and conditions of the employment relationship. Under Section 91Continue reading “WHAT YOU NEED TO KNOW ABOUT EMPLOYMENT CONTRACTS”

WHAT YOU NEED TO KNOW ABOUT NON-DISCLOSURE AGREEMENTS (NDAs)

A Non-Disclosure Agreement (NDA) also known as Confidentiality Agreement (CA), Confidential Disclosure Agreement (CDA), Proprietary Information Agreement (PIA) or Secrecy Agreement (SA) is a legal contract or part of a contract between at least two parties that outlines confidential material, knowledge or information which the parties wish to share with one another for certain purpose,Continue reading “WHAT YOU NEED TO KNOW ABOUT NON-DISCLOSURE AGREEMENTS (NDAs)”

HOW THE NEWLY AMENDED COMPANIES AND ALLIED MATTERS ACT (CAMA) WILL AFFECT YOU AS AN ENTREPRENEUR OR BUSINESS OWNER.

President Muhammadu Buhari signed into law the Companies and Allied Matters Act (CAMA) on August 7, 2020. The new CAMA has repealed and replaced the extant CAMA of 1990 and will make Nigeria’s business environment as competitive as its counterparts around the world. This amendment is the first in 30 years and contains some vital amendments that startups and entrepreneurs must be aware and take advantage of.

Since what you don’t know can actually kill you (or your business), we have made a highlight of some of the key and vital provisions below to guide you

SOME LEGAL FACTORS TO CONSIDER BEFORE STARTING THAT BUSINESS

In our previous article, we shared the possibility of launching a business even in this pandemic, and how that you can hit it real big despite the bleak times the entire world is in.

In this article, we’ll be addressing the legal factors you must put into consideration before launching your business. Laws they say, is what makes us different from animals and ignorance of the law has never been, is not and will never be an excuse to violate the laws that guide business operations in Nigeria.