5 Legal Documents You Need When Starting A Business

LaniDigital | Inside Life
July 1, 2021

If you’re currently starting a business or have plans to start a business, here are 5 important legal documents you need.

1) Business Registration:

documents starting a business

You need to first establish a business entity by registering with the relevant company’s house either as a Business Name or a Company Limited by Shares. This legal status allows you to operate bank accounts as a business entity and make your customers more comfortable doing business with you. 

2) Business licenses and permits:

documents starting a business

Depending on the industry where you operate, you will need specific business licenses and permits to conduct business. You’ll also need permits from the city/state where your business is operating. Businesses selling products and services subject to certain taxes need to create a tax profile with the tax authorities.

3) Partnership Agreement:

documents starting a business

This is a document that’s needed when two or more people start a business together. The document outlines each partner’s share of ownership including contributions, decision-making powers, etc.

4) Terms of service/privacy policy:

documents starting a business

Terms of service and privacy policies are two of the most commonly prepared legal documents today especially for businesses with a digital presence. They govern the terms and conditions for people using a business’s website or mobile application. The three reasons you need the terms of service and privacy policy include defining the terms governing the use of your website, facilitating online payments, guaranteeing trust, and security of your website.

5) Trademark and other intellectual property right registration:

documents starting a business

This process helps a business retain and protect all intellectual property rights created by the business such as its unique logos, signs, etc.

A lot of people decide to start businesses without knowing that all these documents are needed, while some know but don’t know exactly how to get them. That’s where LaniDigital comes in. LaniDigital is a platform with ready-to-use customisable legal contracts and forms for personal and business needs. These legal templates have been grouped into different categories, including but not limited to estate planning, marriage and divorce, finance, real estate, agreements, and so on. Users can easily select their preferred template(s) by simply considering their specific personal or business-related legal needs at that moment. 

While LaniDigital is not a substitute for a lawyer or law firm, the platform offers a technological solution to easily access documents and templates created by duly qualified Nigerian lawyers. All you have to do is answer a few simple questions to automatically generate a legal document customised just for you. 

Visit www.lanidigital.com and create an account to get started!

documents starting a business

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