How To Register A Business Name In Nigeria – Registering a business name in Nigeria is a crucial step in starting and running a business in the country. It is important because it helps to protect your business name from being used by another person or entity. A guide on how to register a business name, trademark a business, Business name acquisition procedures, documents to upload for CAC Business name registration cost of registration and how to search for business name that will be approved for registration by CAC will be discussed in this article.
Meaning Of CAC
The acronym CAC designates Corporate Affairs Commission. It is the agency saddled with the responsibility of registering and authenticating business names and identity in Nigeria. They carry out certain functions as business name approval and registration, trademarking of businesses and issuance of business name registration to both small and large scale businesses within the country.
Registration of business name is not done without a cost and all correspondence in terms of payment should be done directly with the agency or its approved agents wot avoid being defrauded in the process.
Steps to register a business name in Nigeria
Step 1: Choose a Business Name
The first step in registering a business name in Nigeria is to choose a unique name for your business. You can do a search on the Corporate Affairs Commission (CAC) website to confirm the availability of the name you have chosen.
Step 2: Register the Business Name
Once you have confirmed that the name you have chosen is available for registration, the next step is to register your business name. You will need to visit the CAC office or their website and fill an application form and pay the necessary fees to register your business name.
Step 3: Obtain a Business Name Certificate
After you have completed the registration process, you will be issued a business name certificate by the CAC. This certificate serves as proof of registration and ownership of the business name. You will need to keep this certificate safe, as it may be required for future transactions or documentation.
Step 4: Obtain other necessary documents
Depending on the type of business you intend to operate, you may be required to obtain other necessary documents such as a tax identification number (TIN), value-added tax (VAT) registration, and other permits or licenses. These documents can be obtained from relevant government agencies or departments.
Documents to be Uploaded for CAC Business Name Registration
Before a business owner takes a step forward to make the business a legal entity by registering with the CAC, it is important to have the documents listed below to avoid unnecessary duress in the process
The following documents are required to upload for CAC business name registration
- Completed FIRS questionnaire
- Memorandum and Articles of Association(copy)
- Certificate of Incorporation(copy)
- Directors’ names and addresses
- Tax advisor’s name and address
- Letter of appointment of a tax advisor and corresponding letter of acceptance
- The date the company commenced business
- Names, addresses and mobile numbers of major promoters and the chairman of the company, including their email addresses
- Other sources of income of the chairman and the promoters of the company
- Name and addresses of the principal officers of the company including the chairman,managing director,legal advisor and accountant
CAC Business Name Search and Registration Procedures.
To begin, you need to have a name to register. However, if there’s is no preconceived name, here are steps o how to search for a name will be approved by the commission:
- The first steps to name search is looking at other company’s names for a clue on what to name your business
- If not satisfied with this, search google approved directories for your specific industry to see the approved names and their patterns
- With this clue, carryout an intellectual brainstorm on how to put words to [produce a unique name for your business.
- You may also take a clue from the combination of both spouses names, children’s names as the case may be.
- You may also search for the availability of the proposed name on the CAC website or consult a legal practitioner or business registration agent to ensure that the proposed name is in compliance with CAC regulations.
It is advisable to conduct a search for the availability of the proposed name on the CAC website or consult a legal practitioner or business registration agent to ensure that the proposed name is in compliance with CAC regulations.
That way, you will certainly secure a name for your business. However, while following the above mentioned guidelines to get your business name, avoid the following errors;
- Do not choose a name that conflicts with your state’s naming guidelines
- Do not choose a complex name in terms of the words and pronunciation
- Do not use a name identical to any existing registered business name or trademark.
- Do not use any name that suggests illegal activity or be offensive or deceptive in any way.
- Do not use restricted words or phrases, such as “National”, “Government”, or “Federation”, or even names affiliated to state government unless special permission is obtained.
The registration processes are as follows:
To register, the company must submit the taxpayer registration input form in triplicate, and the original certificate of incorporation must be presented for review by the controller. Upon the completed taxpayer registration input form and all other documents
How to Trademark a business name in Nigeria
What Does It mean to trademark a business name?
A trademark simply means a unique name given to ones business based on the products and services rendered by the owner. This is the company’s outstanding means of identity and identification by customers outside. It may contain designs, sings or symbols or logo which the business is uniquely identified with.
Trademarking a business name is very crucial because it secures the business from intrusion from other business owners offering similar services or selling similar products. Once a business is trademarked, no other service provider is allowed to use the signs symbols or any other thing associated with the business, it may be seen as piracy and is punishable by law.
If you’re starting a new business, it’s important to choose a name that represents your brand and sets you apart from the competition. However, before you start using that name, it’s essential to register and trademark it to protect it from infringement by others. Here’s a step-by-step guide on how to trademark a business name.
Step 1: Trademark Your Name
After registering your business name with the state, you can apply for a trademark with the USPTO. A trademark is a legal protection that prevents others from using your business name or a similar name. The USPTO provides an online application process, which includes submitting a trademark application, paying the application fee, and providing a detailed description of your business.
Step 2: Wait for Approval
Once you have submitted your trademark application, it can take several months for the USPTO to review and approve it. During this time, the USPTO will conduct a search to ensure that your name is not already in use and that it meets all the necessary criteria for trademark registration.
Step 3: Maintain Your Trademark
Once your trademark is approved, it’s important to maintain it by regularly monitoring your business name for infringement and renewing your trademark registration. Failure to maintain your trademark can result in losing your legal protection, and your business name may become vulnerable to infringement by others.
How Much do I need to Register a Business Name in Nigeria
The cost of registering a business name in Nigeria varies depending on the state where the business is being registered. The Corporate Affairs Commission (CAC) is the regulatory body responsible for the registration of business names in Nigeria., the CAC charge a total of N10,000 (Ten Thousand Naira) for business name registration, which includes the cost of the name search and reservation, as well as the actual registration of the business name.
Requirements for Registering and Trademark a Business name
The specific documents required for business name registration and trademark may vary depending on the location and legal requirements of the jurisdiction where the business will operate. However, some common documents that may be required are:
- Application form: This is the form provided by the government agency responsible for registering business names. It typically includes basic information about the business, such as the proposed name, business structure, address, and contact details.
- Identification documents: The government agency may require identification documents for the person registering the business, such as a driver’s license, passport, or other government-issued ID.
- Business license: Depending on the type of business and location, a business license may be required before the business name can be registered. This applies to businesses relating with professional services such as law, medicine, nursing, architecture etc
- Certificate of incorporation: If the business is incorporated, a certificate of incorporation may be required to prove that the business is legally recognized by the government.
- Partnership agreement: If the business is a partnership, a partnership agreement may be required to prove that the partners have agreed on the terms and conditions of the partnership..
In Conclusion, Registering and Trademarking a business name is an essential step in protecting your brand and establishing your business’s identity. By adhering to the steps in this article, you can ensure that your business name is legally recognized and protected, and you can focus on building your business without worrying about infringement.