HARD LESSON FROM THE UNREGISTERED VENTURE

Once upon a time in the bustling city of Oshodi Lagos, there lived a woman known as IYA LATI. She was a visionary entrepreneur with a heart full of dreams and a head full of ideas. Iya Lati was a very good cook. She had a small canteen where she sold original amala and abula with different kinds of meat. Her amala was known to be always hot and the soup was very local and tasty.

As the days passed, Iya Lati's canteen gained popularity. Her delicious amala canteen attracted customers from far and wide. The word spread like wildfire, and soon people were lining up to buy hot amala from her canteen. Iya Lati seemed to be the bride of both married and single men because of her very delicious meal. She seemed unstoppable.

However, in the whirlwind of her newfound prosperity, Iya Lati overlooked one crucial detail: registering her business. Her focus was solely on cooking and selling, never considering the legal formalities that came with entrepreneurship.

Years rolled by, and Iya Lati’s small food canteen grew into a big restaurant in Oshodi, a densely populated city in Lagos. Her brand, "AMALA IYA LATI," became a household name, known for its tasty and savour. It wasn't long before others noticed her rising star.

One fateful morning, Iya Lati woke up to a letter that would change everything. It was a CEASE and DESIST order from a company claiming to own the rights to the name "AMALA IYA LATI." Panicked, Iya Lati couldn't believe her eyes. How could this happen?

Frantic, Iya Lati sought legal advice, only to discover the harsh truth. Because she had never registered her business, she had no legal claim to the name. Someone else had seen the potential in her brand and seized the opportunity.

Defeated, Iya Lati had no choice but to rebrand her thriving business. The process was painful and costly. She had to change everything - the logo, the signage, the souvenirs etc. The loss of the name she had come to associate with was a bitter pill to swallow.

As Iya Lati rebuilt her brand under a new name, she vowed never to make the same mistake again. She registered her new business promptly and learned the importance of legal protection for her business.

The experience taught Iya Lati, a semi-literate woman a valuable lesson. She became an advocate for aspiring food entrepreneurs, urging them to prioritize legal matters alongside their business pursuits.

Unfortunately, the new name of her business did not enjoy much success like the AMALA IYA LATI and the business later died.

So, dear aspiring entrepreneurs and seasoned business owners alike, take heed from Iya Lati’s tale. Register your business, protect your brand, and ensure your dreams have a solid foundation. Don’t build a beautiful house on a piece of land you have not acquired.

Registering your business with CAC is your plot of land. You may contact gabicoinnovations@gmail.com to get your business/company name registered with the Corporate Affairs Commission.

It's a super story!!!!!

OgbeniOja1:
It's a super story!!!!!

Hope you get the main point from the story. That is more important

Never build a substance on nothing.