As the year winds down, businesses often focus on sales, budgets, HR matters, and holiday plans. Yet one area that quietly determines how smoothly you’ll operate in the new year is legal housekeeping.
Carrying unresolved legal issues into a new year is like carrying over unbalanced books. Before long, it will disrupt your planning, delay your growth, and ultimately expose your business to unnecessary risk.
This checklist will help you assess your legal health quickly and clearly. If your answers reveal gaps, it’s a signal to act now so you can start January clean, compliant, and confident.
Please note that this list is general. For full protection, you should request a bespoke checklist tailored to your business model, operations, and industry regulator.
1. Are your core contracts up to date?
Review:
- Service agreements
- Employment contracts
- NDAs
- Partnership / shareholder agreements
- Vendor or distributor contracts
If your operations changed this year (e.g. pricing, scope, deliverables, teams, ownership, etc, your contracts should reflect it. Apart from protecting yourself, note that outdated contracts cause disputes.
2. Have you renewed all business licences and permits?
Depending on your industry, you may need:
- Food handling permits
- Hospitality licences
- NAFDAC registrations
- Film, music, or media production permits
- Tax clearance certificates
- Local government permits
Identify what expires in December or Q1. Keep the Christmas break in mind.
3. Have all board and shareholder resolutions been properly documented?
Even small businesses need:
- Resolutions for major spending
- Resolutions approving loans
- Resolutions approving new hires or directors
- Resolutions approving share allotments or changes
If decisions were taken informally this year, document them before closing.
4. Have you kept proper statutory records?
Check your:
- Minutes book
- Register of members
- Register of directors
- CAC filings
Gaps here create major issues during due diligence, audits, or fundraising.
5. Are your tax filings up to date?
Review whether you filed and paid:
- VAT
- CIT (Companies Income Tax)
- PAYE
- Returns
A quick tax audit now prevents penalties in the new year.
6. Have you settled outstanding obligations to staff?
Before December ends, resolve:
- Leave days taken/not taken
- Reimbursements
- Bonuses (if applicable)
- Employment status updates
It prevents HR disputes in January.
7. Have you updated your data protection compliance?
Check your:
- NDPR audit (if applicable)
- Privacy policy
- Data processing contracts
- Consent forms
- Cookie notices
Tech businesses: this step is critical before onboarding new users in Q1.
8. Are your IP assets protected?
Review:
- Trademarks filed or renewed
- Copyright notices on content, media, products
- Domain names
- Licensing agreements
If you created anything valuable this year, ensure it’s protected.
9. Are you compliant with advertising and labeling laws?
Especially important for:
- FMCGs
- Cosmetics
- Food and beverage companies
- Fintech products
- Influencers and agencies
Misleading claims attract sanctions. Review everything now and make sure you are doing so with your PR and Social Media teams.
10. Are your vendor and freelancer relationships properly documented?
If you’ve been operating on trust or WhatsApp agreements, formalize them.
You cannot enter January with handshake contracts.
11. Have you reviewed risk, insurance, and indemnity clauses?
Check whether you have:
- Adequate insurance for your business risks
- Clear indemnification clauses
- Updated liability caps
- Proper fixed-fee vs. percentage-based fee contracts (if applicable)
Too many disputes arise from poorly drafted clauses.
12. Do you have a legal advisor on standby for the new year?
A legal retainer gives you:
- Predictability (fixed monthly fee)
- Priority support
- Dedicated advisory
- Compliance monitoring
- Contract review
- Risk alerts
- Peace of mind
Instead of scrambling when problems arise or guessing which of the above actually apply to you, choose to walk into 2026 with structure, clarity, and confidence.
The idea is not just to avoid fines, but to also position your business for growth.
When your documents are clean, your contracts are clear, and your compliance is solid, you negotiate better, onboard clients faster, and execute your strategy without interruptions.
If you found gaps in more than two of the points above, you may need structured support next year. We have a Compliance Advisory Retainer to help you stay protected and proactive.
Syntax Legal Practitioners 