Corporate titles for unregistered businesses
What could be the best corporate titles for a business that has not been legally registered?
Titles help outsiders to know how to connect with your organization. When considering starting a business in Cameroon, you need to understand fully the various forms of businesses that exists. It’s also necessary to know the differences between an unregistered and registered.
Having knowledge of the above will help you know the corporate titles you will use in your business. In Cameroon, corporate titles are not just titles, but tell the business type you have legally registered and the authority you have. See are you using the right corporate title for your business?
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What corporate titles will be good for unregistered businesses?
Starting a small business or a company is a very big step towards financial independence. It’s not only that you have chosen to separate your business from yourself. Let’s see some of the names you can give yourself when your business is still to be registered. As I said, it’s misrepresenting when you use titles that are not associated with a role in your business structure.
The term ‘Founder’ is usually used by those who were instrumental in creating a new business. This title is suitable because it doesn’t give the Founder any special legal rights as the title has no independent legal meaning.
In other words, a Founder is someone who comes up with an idea and then transforms it into a business. They can do it alone or together with others.
In the case where a founder sets up a business with others, they become Founder and co-founder. The term Co-founder is out to give equal credit to other people were / are involved in the start of a business together.
Owner & co-owner
It’s also possible for you to take a non-legal title like Owner or co-owner in the case where there many owners involved.
In essence, you need to choose corporate titles that are worthy of the role. At times, it’s better to go with Founder or Co-founder and another title which you are useful at. For instance, you can say Co-owner & Chief Strategist or Founder & Marketing Officer.
The responsibilities of a CEO or Manager are well spelled out in the Foundation for Business Law in Africa, (FUBLA / OHADA). You need to earn these corporate titles or else, use non-legal corporate titles like Founder, Owner, Co-founder and Co-owner.
You need to be a leader such that you know when you are or when your are not a true Manager, Managing Director or CEO.
In this case, it’s very necessary for you to know the job description of the corporate title you are using.
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This content has been prepared for information purposes only. It is not intended to provide, and should not be relied on for, tax, accounting or legal advice. You need to consult your own tax, accounting or legal advisors before engaging in any transaction.