Forming a business goes beyond having a vision and business sense. There is also a substantial amount of legal proceedings involved. Having a company also means that it will need to be recognised as a legal entity. This way, the company can receive necessary legal benefits and will be compliant with all necessary requirements.
What is a Memorandum of incorporation?
Before implementation of the Companies Act of 2008, companies had to be registered by way of both a Memorandum of Association and Articles of Association. Once the new Act was enforced, companies had to register with a single Memorandum of Incorporation (MOI).