Tribune Solicitors

11/10/2024

Under the Companies and Allied Matters Act (CAMA) in Nigeria, a Business Name and a Company have distinct differences:

:

1. Sole proprietorship or partnership
2. Registered with the Corporate Affairs Commission (CAC) as a Business Name
3. Not a separate legal entity from its owner(s)
4. Owner(s) personally liable for debts and obligations
5. Limited to small-scale operations
6. No requirement for annual returns or audits
7. Cannot issue shares or borrow from the public



1. Separate legal entity from its owners (shareholders)
2. Registered with the CAC as a Private Limited Company (Ltd) or Public Limited Company (Plc)
3. Limited liability for shareholders
4. Can issue shares, borrow from the public, and engage in large-scale operations
5. Required to file annual returns and undergo audits
6. Must have a Memorandum and Articles of Association
7. Can sue or be sued in its own name

Key differences:

1. Legal entity: A company is a separate entity, while a business name is not.
2. Liability: Company shareholders have limited liability, while business name owners have unlimited personal liability.
3. Scale of operations: Companies can engage in larger operations, while business names are typically smaller.
4. Funding: Companies can issue shares and borrow publicly, while business names cannot.
5. Regulatory requirements: Companies require more formalities, such as annual returns and audits.

When to choose a Business Name:

1. Small-scale operations
2. Sole proprietorship or partnership
3. Low-risk business
4. Simple registration process

When to choose a Company:

1. Large-scale operations
2. Multiple shareholders
3. High-risk business
4. Need for limited liability
5. Access to public funding

Consult a legal professional or accountant to determine the best structure for your business.

01/05/2024

😆 🤣 😂 😹

26/03/2024

"Computer generated evidence is at best garbage in, garbage out."

21/03/2024

is a gift 🎁. We should live every moment to its fullest.

🙏

21/03/2024

DO YOU KNOW THAT:

"...it is not quite ethical for counsel to assure his client that come rain come sunshine he will win the case. Counsel is within his professional limits to assure his client that he has a good case and that he, counsel will do his best to obtain victory, if that is the position.

He should stop there and not assure his client that he will win the case. After all, his is advocacy and the judgment is that of the Court. By assuring his client that he will win, counsel himself is trying to interfere with the work of the Judge.

That is bad. If at the end of the day counsel loses the case, all sorts and stories take the waves of the air most of them unfounded and against the judge." Per NIKI TOBI, JSC (Pp 183 - 184 Paras G - C)

ABUBAKAR & ORS v. YAR'ADUA & ORS
(2008) LPELR-51(SC)

19/03/2024

DO YOU KNOW THAT:

No matter the severity of the , everyone is presumed until proven .

- TS Alalibo Esq

19/03/2024

No matter the competence of an attorney, a bad witness can turn all efforts to futility by simply teargassing himself in court. - TS Alalibo Esq

Answer the question that is being asked you without seeing the need to be flamboyant.
Arrogance and pride are 2 veritable tools for the downfall of a witness. They can give you what you want if you smatch their ego a bit.

01/11/2023