Hello Zainab,

I currently run a Media Agency, I and 2 co-founder, we are looking to scale by representing various Content Creator’s, and platforms, that is where they create the show,song or platform, we would be the one to handle the Business side.

We have been doing business on a month to month basis, what legal structure do I need to put in place to handle every dealing of mine as a media Agency?.

Thanks

Do-it-right Business Owner

 

Hi Do-it-right Business Owner,

 

I’m always glad to hear of people creating solutions and doing it well, so I owe you a smile. Starting with your obvious question of a legal structure, the first thing to ring in your ear will be to incorporate your business. You shouldn’t confuse this with registering a business name. An incorporated company differs from a business name as it is a separate legal entity while in the case of a business name, there is no separation between the proprietor(s) and the registered business.

 

Also, you should get a founders agreement which governs the relationship between founders. It defines all the roles, obligations, and benefit of each founder. Its always better to sort this out at the early stages of your business. You should also have terms and conditions which indicate intellectual property usage and rights with the content creators. You should also look at having a privacy policy for the use of all the personal information you will gather.

 

With all this said, you should still seek legal advice from a lawyer who can help you out with more intricate details. You can find one here

 

As additional resource, you can read up these articles:-

 

Types of business entities, Setting up a legal entity for your business in Nigeria.

 

These videos could be helpful too-

Diylaw Video 1, Diylaw Video 2

 

Keep succeeding Do-it-right Business Owner