Your Business and The Law
Your Business and The Law is aimed at raising awareness of Nigerian Business Law amongst Small and M
Did you know that the Startup Act was signed into law on the 19th day of October 2022?
The Act establishes a startup investment seed fund through which startups can access financing.
BENEFITS OF OBTAINING A STARTUP LABEL
• Eligibility to access special funds
• Access to grants and loan administered by the Central Bank of Nigeria (CBN) and Bank of Industry (BOI)
• Eligibility for possible four years tax exemptions and other tax incentives.
• Eligible employees of a labelled startup are entitled Personal Income Tax exemption of 35% of the income of the employee for a period of two years from date of engagement.
Etc.
ELIGIBILITY FOR GRANT OF STARTUP LABEL
• According to the Act, to be labelled a startup, the entity must be registered as a Limited Liability Company under the Companies and Allied Matters Act 2020.
• The startup must have been in existence for a period of not more than 10 years from the date of Incorporation.
• It must have at least one Nigerian as a co-founder.
• Its business object must include: “innovation, development, production, improvement, and commercialisation of a digital technology innovative product or process”.
CAVEAT: Note that this information is provided for general enlightenment purposes and is not intended to be any form of legal advice.
Nigeria's advertising regulator, ARCON, sues Meta for $70m as loss of revenue arising from unapproved adverts on its platforms.
As technology expands the media space , the impact of Intellectual Property Law is growing.
Get empowered with relevant legal advice for your business on this space.
https://www.facebook.com/206270189411151/posts/5946169452087834/?app=fbl
Asa slams N300m copyright infringement suit on Joeboy Asa has issued a copyright infringement notice to her colleague, Joseph Akinwale, aka Joeboy, over his recently-released song, "Contour".
Excellence is a habit...