Note
Note
You don't need to know everything as a lawyer. But you see ba, don't give any form of advice on areas you are not familiar with.
What almost everybody knows is that once you register a company, it should end with 'Limited'. But there are other categories.
Someone reached out to say that he was advised to register an 'Unlimited Company' because he wants to do film, agriculture and one other stuff. And that an Unlimited Company would enable him do anything he likes since he is doing many things. I tried to manage my ego not to talk down a colleague.
I can hardly advice any young person to register an unlimited company. Even though it strengthens credibility and confidence in business, but it also make the shareholders live in a house without a roof.
You know that thing they say if anything happens it's the Company you will held responsible? In an unlimited company? If business goes bad for you as a young Company, you will pay with everything you've got.
The only very prominent Unlimited Company in Nigeria is Mobil. The rest is limited.
Stick with your limited liability company. Don't let anyone mislead you.
Abia Friday Anthony
You don't need to know everything as a lawyer. But you see ba, don't give any form of advice on areas you are not familiar with.
What almost everybody knows is that once you register a company, it should end with 'Limited'. But there are other categories.
Someone reached out to say that he was advised to register an 'Unlimited Company' because he wants to do film, agriculture and one other stuff. And that an Unlimited Company would enable him do anything he likes since he is doing many things. I tried to manage my ego not to talk down a colleague.
I can hardly advice any young person to register an unlimited company. Even though it strengthens credibility and confidence in business, but it also make the shareholders live in a house without a roof.
You know that thing they say if anything happens it's the Company you will held responsible? In an unlimited company? If business goes bad for you as a young Company, you will pay with everything you've got.
The only very prominent Unlimited Company in Nigeria is Mobil. The rest is limited.
Stick with your limited liability company. Don't let anyone mislead you.
Abia Friday Anthony
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