DOING BUSINESS IN THE US: ACCESSING INTERNATIONAL FUNDING OPPURTUNITIES (WEBINAR INVITATION)

DOING BUSINESS IN THE US: ACCESSING INTERNATIONAL FUNDING OPPURTUNITIES (WEBINAR INVITATION)

Are you an early stage startup founder looking to raise money in the United States? Do you own a business and you are looking to access the American market? Then this is for you! The United States no doubt plays host to a large and diverse market base. According to the National Venture Capital Association (NVCA), “venture capital deal making, exit and fundraising values all broke records in 2021 by stunning amounts”. VC industry in 2021 shows a staggering $329.9 billion was invested across an estimated 17,054 deals, a record for deal count and roughly double 2020’s previous deal value...

SOCIAL MEDIA REGULATION IN NIGERIA – NITDA’S PROPOSED CODE OF PRACTICE FOR INTERACTIVE COMPUTER SERVICE PLATFORMS/INTERNET INTERMEDIARIES

SOCIAL MEDIA REGULATION IN NIGERIA – NITDA’S PROPOSED CODE OF PRACTICE FOR INTERACTIVE COMPUTER SERVICE PLATFORMS/INTERNET INTERMEDIARIES

  Having recognized the relevance of information technology as a critical infrastructure in society which must be safeguarded, regulated, and protected against online harm, the National Information Technology Development Agency (NITDA), on the 13th day of June 2022, announced the release of a Draft code of practice for interactive computer service platforms/Internet Intermediaries.   SCOPE AND APPLICATION The code applies to all Interactive Computer Service Platforms/Internet Intermediaries and their agents in Nigeria such as blogs, e-commerce websites, gaming platforms, social media platforms, media sharing websites, mobile apps,  streaming platforms, online discussion forums, or similar platforms where users can create, read,...

WHEN TO USE A NON-DISCLOSURE AGREEMENT

WHEN TO USE A NON-DISCLOSURE AGREEMENT

Introduction Ever heard the saying ‘three may keep a secret if two of them are dead’? I believe that if you want to keep information secret, it’s best not to share it with anyone because once you disclose it to someone, it’s no longer secret. I’m sure this resonates with you as well? However, there are circumstances, especially during business transactions where there may be a need to disclose sensitive information. In such situations, a Non-Disclosure Agreement (NDA) is recommended.   What is a Non-Disclosure Agreement (NDA)? An NDA is a legal document in which one or more parties agree...

WHEN SHOULD I USE A NON-DISCLOSURE AGREEMENT?

WHEN SHOULD I USE A NON-DISCLOSURE AGREEMENT?

Introduction Ever heard the saying ‘three may keep a secret if two of them are dead’? I believe that if you want to keep information secret, it’s best not to share it with anyone because once you disclose it to someone, it’s no longer secret. I’m sure this resonates with you as well? However, there are circumstances, especially during business transactions where there may be a need to disclose sensitive information. In such situations, a Non-Disclosure Agreement (NDA) is recommended.   What is a Non-Disclosure Agreement (NDA)? An NDA is a legal document in which one or more parties agree...

HOW TO PROTECT YOUR COMPANY FROM DEAD WEIGHT CO-FOUNDERS

HOW TO PROTECT YOUR COMPANY FROM DEAD WEIGHT CO-FOUNDERS

Are you about starting a company with a co-founder and you have concerns such as; 1. What if my co-founder doesn’t pull his/her weight and I need to find another co-founder? 2. What if I realize in the future that my co-founder isn’t the person I thought he/she was when I started the business? 3. What if he/she gets bored with the business idea? OR Have you ever had your company shut down because your co-founder either fails to perform the responsibilities assigned to him/her and in addition you discovered that such a co-founder is still entitled to benefits from...

DIFFERENT CLASSES OF TRADEMARK

DIFFERENT CLASSES OF TRADEMARK

INTRODUCTION A trademark is a sign capable of distinguishing the goods or services of one enterprise from another. Trademarks are intellectual property rights. Brand names, product names, slogans, and logos, e.t.c. all qualify as trademarks in Nigeria. The Trade Marks Act, Cap T 131, Laws of the Federation of Nigeria, 2004 is the principal legislation governing trademarks in Nigeria. For a trademark application to be accepted for registration in Nigeria; Such word(s) must have no direct connection or reference to the character or quality of the goods. What this means for instance is that assuming “VETA TECHNOLOGIES” is to be...

WHAT ARTISTS SHOULD LEARN FROM OGA SABINUS’ INTELLECTUAL PROPERTY INFRINGEMENT CLAIM

WHAT ARTISTS SHOULD LEARN FROM OGA SABINUS’ INTELLECTUAL PROPERTY INFRINGEMENT CLAIM

INTRODUCTION Early this week, famous Nigerian comedian and skit maker Chukwuemeka Emmanuel, popularly referred to as Oga Sabinus made headlines over the internet with respect to his demand notice to Friesland Foods Wamco Nigeria Plc for payment of one billion naira as compensation and damages for unauthorized use of his trademarked slogan “something hooge” while promoting their Peak Milk product as seen in the images below. In addition, Sabinus has also made a demand for the sum of one hundred million naira from UAC foods, for using his animated image in an advert for the gala sausage roll. It is...

SEC REGULATION ON DIGITAL ASSETS IN NIGERIA

SEC REGULATION ON DIGITAL ASSETS IN NIGERIA

Introduction The Securities and Exchange Commission (SEC) is the primary regulatory agency in the capital market in Nigeria. Before now, the common form of securities we were aware of were stocks, bonds, mutual funds, and Exchange Traded Funds (ETFs). However, with the evolution of blockchain and cryptocurrency transactions, most Nigerians are now investing in digital assets such as; cryptocurrency, digital tokens, Non-fungible tokens (NFTs), etc. Charged with the responsibility of protecting members of the public who invest in public and private companies, the SEC on May 13th, 2022, issued its first rule regulating digital assets in Nigeria titled; Rules on...

WHAT TO DO WHERE A BRAND USES YOUR PHOTO FOR COMMERCIAL PURPOSES WITHOUT YOUR PERMISSION

WHAT TO DO WHERE A BRAND USES YOUR PHOTO FOR COMMERCIAL PURPOSES WITHOUT YOUR PERMISSION

A few days ago, popular Yoruba actor, Odunlade Adekola called out food vendors who used his image  to promote their businesses to refrain from doing the same. As funny as it sounds, this is one out of several challenges most celebrities face. Owing to the value attached to their brand personality, it is possible for celebrities to exploit the financial value of their brand personality. However, it becomes a challenge when some brands or businesses exploit images of such celebrities for their financial gains without obtaining permission. This article will focus on image rights, particularly with respect to deriving profit...

BENEFITS OF HAVING AN EMPLOYMENT CONTRACT AS AN EMPLOYER

BENEFITS OF HAVING AN EMPLOYMENT CONTRACT AS AN EMPLOYER

Undoubtedly, one out of the top five challenges businesses face globally is hiring the right workforce and retaining them. One of the easiest ways to create a stable workforce in your business is by setting out in clear terms your expectations from your recruits before they come on board. This can be done through an agreement.  In Nigeria, the Nigerian Labour Act 1971 is the principal law governing employment matters in Nigeria. The Act covers employees engaged under a contract of manual labour or clerical work in the private and public sectors. Other laws regulating employment contracts in Nigeria include;...