Kind of companies Registrable under the Companies and Allied matters Act( CAMA)
A registered company may be
1. A company limited by shares
2. A company limited by Guarantee
3. An unlimited company.
Any of the above companies maybe be;
- a private company or
- a public company.
Companies limited by shares are companies having the liability of its members limited by the memorandum to the amount of shares that has been assigned to each individual members of the company.
Companies limited by Guarantee is a company in which the liability of its members is limited to such amount as the members may respectively undertake to contribute to the assets of the company in the event of its being wound up. It is usually formed for the promotion of commerce, art, science, religion, etc.
Unlimited companies is a company not having limit on the liability of its members.
On the otherhand, a Private company is one which is stated in its memorandum to be a private company
While a public company is any company other than a private company, and its memorandum shall state that its a public company.
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To be in control and take effective management of a company a promoter of a company may:
1. Take majority shares in the company,
2. Take different type of shares ie , preference shares to have more votes and special rights,
3. Be appointed as a life director,
4. Secure power to appoint and dismiss directors,
5. Be in custody of common seal and countersign any document to which the common seal is affixed,
6. Be signatory to all the document of the company,
7. Secure a pre-emptive right.

ABSOLUTELY PROHIBITED NAMES.
1. A name which is identical or so nearly resembles the name of a registered company.
2. A name which contains the word " chamber of commerce" unless it is a company limited by Guarantee.
3. A name which in the opinion of the commission is misleading as to the nature or extent of its activities, or is undesirable, offensive, or otherwise contrary to public policy.
4. A name that violates a trademark or business name
CONDITIONALLY PROHIBITED NAMES.
The permission of the commission is required before a company can be registered with a name which include the word "Federal", "National", "Regional", "State", " Government", " Municipal", "Chattered", or any other name that contains the word " co-operative"," Building Society" or "Holding or any word that may suggest Government patronage.