It will continue to operate under its current name, Mimi Mefo Info, but it will legally be known as Mimi Mefo Info Ltd, the Publisher said in a statement August 15, 2019.
“This was a necessary move following many instances of its copyrights being infringed and the humans behind the network coming under constant attack,” Mimi Mefo Takambou clarified.
For those who have been asking us the importance of incorporation, she said, below are just a few advantages.
“First, by being incorporated, Mimi Mefo Info now shields its owners from any form of liability. This is because Mimi Mefo Info Ltd and its owners are now two separate entities. If you have a business that is not yet incorporated, your personal assets remain at risk as you bear liability for anything that happens to the company. With incorporation, liability is now limited to the corporate entity.
“Secondly, by incorporation, Mimi Mefo Info has established its perpetual existence and transfer of ownership. This means that the perpetual existence of the network is guaranteed irrespective of what happens to its current owners. Mimi Mefo Info Ltd.’s existence, as well as its operation, will not be disrupted in the event of its CEO and founder, Mimi Mefo, as well as other stakeholders, being unavailable. The news will continue to be reported with promptness and objectivity.
“Thirdly, there are also tax advantages that accrue to Mimi Mefo Info as a result of its incorporation. These advantages will include tax deductions for a wide variety of operating costs which will substantially cut back our overall tax liability. These deductions vary from country to country but generally, include deductions in the cost of materials/production, employee wages, the cost of insurance, the cost of retirement plans, as well as business travel and entertainment expenses.
“Fourthly, it is something you probably already guessed. We are now a more credible entity with the ability to do business with other corporations with similar interests in a manner that engenders trust. And if need be, sourcing outside financing and investment should not be a problem.
“Finally, our incorporation enhances our ability to manage. The decision-making authority of Mimi Mefo Info is now centralized, which usually means that there is a Board of Directors who can delegate their authority to the company’s officers.
“We want to thank you all for your continuous support of Mimi Mefo Info. It is your support that makes us want to continue providing you with up-to-date unbiased and unfiltered news. We are committed to continue to serve your needs in every way possible. As an incorporated entity Mimi Mefo Info Ltd, is more than ever before, capable of presenting the news as it happens, without compromising on quality. Promptness and objectivity will continue to be our watchword.”
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