The Entrepreneur And The Law

The Ultimate Legal Guide To Doing Business In Nigeria

(147 Question Answered + 7 Agreement Templates)

This book is for every Nigerian business owner doing business in Nigeria and a foreigner who wants to do business in Nigeria

The Ultimate Legal Book For You! With this book you have answers to questions around:

Starting a business in Nigeria
Naming your business
Buying a business
Buying a franchise
Raising funds for your business
Business location options
Hiring staff for your business
Outsourcing parts of your business

Protecting your intellectual property
Contracts
Tax liability of your business
Tax identification number
Advertising your business
How to protect your online business
A foreigner doing business in Nigeria
And 7 Agreement Templates

You know the best part? It's going to be fun and easy to read; someone in 8th grade will comprehend everything in the book. We made sure of that.

Starting a business is one thing, but sustaining and complying with the various legal requirements is another thing entirely. While I do not mean to scare you, you must appreciate just how big a deal it is.

How do I know?

I know because I have been on this road for a long time and earned my stripes. I have been running businesses for more than a decade and founded ReDahlia more than six (6) years ago.

In our second year of business, we established our business support arm to facilitate prompt and seamless business registrations with the Corporate Affairs Commission and then aid such businesses to trademark their brands with the Ministry of Trade and Investment.

This has allowed us to closely engage with small and medium-scale business owners for over four years. We have found that the thousands of questions we are repeatedly asked reflect a common concern these business owners have about understanding the legal implications of doing business in Nigeria.

Also, as a business, we have made some costly mistakes that impacted our bottom line. When I say mistakes that cost us money, I do not say this lightly. We have been burned. In hindsight, those mistakes, and the consequent costs, were avoidable were we better informed.

In running a sustainable business (a sermon we preach at ReDahlia and Entrepreneurs.ng), you need to be on the right side of the law. This entails knowing the law. That knowledge of the law allows you to leverage and optimise your competitive advantage.

Our DMs and emails are filled with legal questions given the support services we render, and these questions cover almost every aspect of a business. They range from understanding the different business structures and tax implications of each, dealing with partners, intellectual property protection, amongst others.

Here are some of the questions we get in our DM daily

'I don't want to pay tax; how can I avoid paying tax when I register my business?'
'Should I register my business as a business name or limited liability company, and why?'
'What are the benefits of registering my business?'
'I'm having issues with my business partner; how do I deal with it?'
'What is a trademark?'

'Should I register my business, or should I trademark the business?'
'What businesses can I start?
'Are there some businesses I cannot do?
'What are the advantages of registering a business name over a limited liability company?'
'I'm a foreigner and I want to do business in Nigeria. How can I go about it?

As always, our mission as an organization is to provide lasting solutions to the challenges that plague entrepreneurs.

The unique balance we have struck with this body of work is deftly aggregating their wealth of legal expertise and experience with my understanding of business-speak, having worked with businesses for more than a decade.

Our singular goal was to ensure that every term, every word, and every sentence makes sense to the ordinary business owner.

Ever heard or read the law in business language? That’s precisely what we did here!

The book takes a question-and-answer form so that it’s easy to comprehend. Also, you have seven (7) agreement templates that you can adapt to your needs.

Okay, perhaps a sneak-peek into The Entrepreneur And Law: The Ultimate Legal Guide To Doing Business In Nigeria. (147 Questions Plus 7 Agreement Templates)?

Let's Take A Peek

Understanding how to start a business in Nigeria are the first set of questions covered; you are taken through the steps of legally starting your business.

The first step to structuring your business is registering it with the Corporate Affairs Commission. For example, should you register as a business name, partnership, limited liability company, incorporated trustee, or company limited by guarantee?

Asides from registering your business, what other legal obligations do you have? This book holds all the answers. With this guide, you will be making an informed decision on the proper legal structure with the big picture in mind.

Hold on. Should you even be registering your business in the first place? Well, find out from the book!

What do I need to know about naming my business? What are the types of names I cannot use when registering my business? What do I need to know about reserving a name for my use?

Some people will not start a company from scratch; they may buy an existing company or a franchise. When buying a company or franchising, how should you protect yourself? What are the crucial questions you need to ask, and what are the most important documents you need to sign? Have you put on your thinking cap?

WELL, YOUR ANSWERS CAN BE FOUND IN THE BOOK. FIND OUT YOURSELF!

Access to capital is still one of the major challenges business owners face when starting their business. This is because, in running a business, you may not have all the capital you need to run the business. So, what are the right ways to raise money for your business?

Get the book to find out.

Do you know that there’s a law that guides where you locate your business?

Can I run my business from a residential location/work from home? What is a commercial property, and when do I need to have one? What is an industrial property, and when do I need to have one? What is a co-working space property, and when do I need to have one?

On Hiring

This is very important but unfortunately many business owners do not pay mind to it. You have to pay attention; else, you will be burned.

Is it compulsory for me to hire any staff for my business? How do I recruit staff for my business? How does the issue of discrimination play out in the recruitment process? What do I need to know about the privacy of job seekers? How do I maintain the privacy of job seekers?

Should I consult a recruitment firm to recruit my staff for me? What should I know about the working conditions of my staff? What is a contract of employment? What are the important terms of a contract of employment? What does it mean to keep my employee from degradation?

What do I need to know about hiring contracts or fixed-term employees, or teleworkers? Should you be outsourcing? How should you protect yourself if you decide to outsource? What other things should I keep in mind as an employer?

As a business owner, it is crucial to protect your business’s intellectual property. How can I protect my intellectual property?

We covered every detail in a way you have not seen before. We covered patents, trademarks, different classes of trademark, industrial design, copyright, etc.

You will learn everything you need to do to protect yourself, so when someone infringes on your right or the right of your business, you can take the appropriate legal action. Protecting your intellectual property is very important and should never be taken for granted.

Contracts are the bonds that bind enterprises. Without contracts, there would be no business markets.

Bottom line: you need to understand its basics. You will need contracts with staff, suppliers, and associates ALL the time.

This is to tell you that we have you in mind. We want you to do business right, and we are giving you all you need to be more as an entrepreneur.

So, grab your copy of the book now.

What are the types of taxes in Nigeria? What is the process of tax registration? What are the implications of not paying your taxes? What is the difference between tax evasion and tax avoidance? Do I have to pay tax on all my profit or income?

What is tax planning? How much should be deducted from an employee’s salary as tax? When will a business owner start paying taxes after registering a business with CAC? What dates should taxes be paid? Is there a penalty for not paying your tax on time? What are the things that I need to know about TIN?

Can I advertise my business freely? What are the basic things I need to know about advertising? When is my advertisement deceptive? When is my advertisement offensive?

What are privacy and publicity rights in advertising? What other compliance issues should I be aware of? What should I know about running an online business?

Standing right by the law is not easy at all, as you have seen so far. To stand on the right side of the law, you need to see through the lens of experts. That’s what this resource offers you.

Without a doubt, it is essential to note that the services of a solicitor and other professionals would be required as a foreigner when you want to do business in Nigeria. Still, we over-simplified what you need to know in this book.

Can a foreigner do business in Nigeria? How can a foreign investor do business in Nigeria? What are the procedures to follow if a foreign investor wants to set up a business in Nigeria?

About ReDahlia

At ReDahlia, we believe that business knowledge, including knowledge of the law, should be accessible to every business owner and aspiring business owner.

What we have done with The Entrepreneur And Law: The Ultimate Guide To Doing Business In Nigeria is to break down every aspect of the law as it affects your business without legal jargon and headaches.

We answered all the legal questions bugging you and much more!

As a business owner, whether you like it or not, the law is here to stay, and it won’t go away. Guess what? Ignorance of the law is not an excuse.

Let’s face it; you must understand every aspect of your business, including the laws that affect your business if you want to be successful. Unfortunately, this is one of those things you don’t have a choice on. What you know and don’t know about the law will affect your business and every aspect of your life.

So, why take chances on such important matters? Why fall victim, when you can be a victor with this knowledge in your hands.

Make the law your friend today by purchasing The Entrepreneur And The Law: The Ultimate Legal Guide To Doing Business In Nigeria (147 Questions Answered + 7 Agreement Templates), and your business and bank account will thank you for it.