Why Do We Need Business Law In Nigeria

QuestionsWhy Do We Need Business Law In Nigeria
Editorial Staff asked 2 years ago

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1 Answers
Segun answered 2 years ago

We need business law in Nigeria for my reason, as we know that law is a written or understood rule that concerns behaviours and the appropriate consequences thereof while business laws are the law implemented to provide all organizations in the marketplace with fair conditions to succeed. The present of business, their owners and their employees in Nigeria are regulated by laws meant to protect businesses from other entities that want to be partial to them.
Business Law is a very important law for both Nigerian and non- Nigeria business to abide with. Business Law requires foreign companies established to carry on business in Nigeria to be incorporated locally. An enforceable system of business Laws also benefits the economy as a whole and provides for more efficient transaction.

The most important thing for the non-Nigerian to take into account is that company law in Nigeria requires foreign companies intending to carry on business in Nigeria to be incorporated locally. The enforceable system of business Laws also benefits the economy and provides for more efficient transaction.

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