Legal Issues in Entrepreneurship

Entrepreneurship, which is the art of managing humans and materials, has grown in proportion in Nigeria with the development of new business techniques. Since there is hardly any aspect of human life that is not subject to control by law, it requires the law to achieve its objectives. This paper appraises Nigeria’s legal issues in entrepreneurship by focusing on pertinent areas such as business structure, taxation, business registration, fundraising, contracts, employment, intellectual or intangible property, insurance and anti-trust. It exposes the issues of law that arise in entrepreneurship and shows how to effectively navigate them by adopting legal approach. As such, the 21st-century Nigerian lawyers can no longer wear the toga of conservatism but must employ relevant legal tools to make meaningful impacts in business. They must possess a working knowledge of several areas of the law, develop innovative techniques that operate across national borders and possess adequate entrepreneurial skills to cope with the complex and sophisticated demands of the business class to remain relevant.