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Incorporations

A sole proprietorship is a business owned and managed by a single individual who is solely responsible for all the business’s obligations. The advantages of a sole proprietorship include ease of setup and cost-effectiveness. However, the main disadvantage is that the proprietor’s personal assets are at risk in case of any legal or financial liabilities of the business

An LLC is a separate legal entity that provides limited liability protection to its owners (referred to as members). The advantages of an LLC include limited liability for its members, flexible management structure, and tax benefits. However, the main disadvantage is the higher cost of setup and maintenance compared to a sole proprietorship or partnershi

A PLC is a company that has offered shares for public subscription and can be listed on a stock exchange. The advantages of a PLC include access to a larger pool of capital and the ability to raise funds from the public. However, the main disadvantage is the regulatory compliance requirements, which can be more stringent compared to a private limited company

A private limited company is a separate legal entity that provides limited liability protection to its owners (referred to as shareholders). The advantages of a private limited company include limited liability for its shareholders, flexible management structure, and tax benefits. However, the main disadvantage is the restriction on the transfer of shares and the maximum number of shareholders (50

A foreign company can establish a branch office in Nigeria to conduct business. The advantages of a branch office include the ability to establish a local presence, access to the Nigerian market, and limited liability for the parent company. However, the main disadvantage is the need to comply with Nigerian laws and regulations, which can be different from those in the parent company’s home country

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