Tag: provincial incorporation
Self Sabotage: When You Incorporate Without A Lawyer
So you looked up a few websites on incorporating, stumbled upon the government sites for filing articles of incorporation and decided to fill in the forms and submit. You pay the same filing fee your lawyer would and think you just did “their job” for nothing. Well, what you did was a disservice to yourself and your partners/shareholders. Most startups need to save money, but the last place you need to skim is when setting up your business structure. Most startups who incorporate themselves stop with the articles of incorporation, never providing for the basic necessary resolutions and by-laws commonly found when first incorporating, not to mention maintaining a proper record of your shareholders, directors, officers, shares issued and redeemed, as well as the capital invested.Why is this important? Well, you may be thinking that because you haven’t even started any type of business operation or completed whatever it is you are building that focusing on anything other than the “name” is a waste of time. Did you know that technically without issuing any shares by receiving whatever notional amount on startup in exchange for actual shares issued evidenced by a share certificate, the company does not yet exist?
Read moreCORPORATE LAW & THEORY: Examples of Share Classes (Rights & Restrictions) and Corporate Organization
Much too often I receive questions about the rights and restrictions that corporate shares carry with them, and what the concept of having different classes of shares is all about. Thus, I decided to post up the most common examples of share classes and the way the rights were attributed to each class; so that you, the reader, may comment or ask questions using our commenting section below
Read morePROVINCIAL INCORPORATION: Deeper into Federal vs. Provincial
The provincial law in Ontario stipulates that a company doing business in the province should also incorporate there. Meticulously satisfying the incorporating requirements therein, along with advice from lawyers and accountants, the process of forming a company would not be difficult.
Read moreWHEN THE SHAREHOLDERS FIRST MEET
Every business has a different setup to them, however, whether there is local or set up through somewhere like https://www.singapore-company-registration.net overseas. If you have shareholders it helps to know what to expect during a shareholders’ meeting. The first shareholders’ meeting should be called by the directors of the company within 18 months of the company’s date of incorporation.
Read moreNITTY GRITTIES OF FORMING A COMPANY
Registration is very different from incorporation. A company has to incorporate only once, but it has to register to carry on business in any and all the places it intends to do business. Doing business in a province or a territory can mean running a business there, having an address, a post office box or phone number there, and/or offering services or products there in order to make a profit.
Read moreCORPORATE NAMING UNINTERRUPTED: Federal vs. Provincial
Even after submission of an application for incorporation to the peoples concerned, doubts remain, a feeling of something left unfinished prevails, and a good night’s sleep becomes difficult. To set such things at rest, it is preferable to look at the matter afresh so as to remove the niggling concerns before the last action.
Read moreTHE ART AND SCIENCE OF NAMING A COMPANY
Companies incorporated under the Canada Business Corporations Act can choose to use a corporate name or will have a numbered name assigned to them. There are advantages in incorporating under a name, additional effort and expense notwithstanding. Corporate communication and advertising today depends on a corporate name, which is a very valuable asset. It tells people who the company is and
Read moreHOWS AND WHYS OF INCORPORATING FEDERALLY
With incorporating, a new corporation or company is launched, which is a legal entity effectively recognized as a person under the law. The corporation could be a business (company), a non-profit organization, sports club or the administration of a new city or town.In Canada, the process of incorporation is carried out either on the federal or provincial level. Federally incorporated companies would
Read moreWHAT YOU SHOULD KNOW ABOUT CANADIAN CORPORATE LAW
Among the definitions of business, the Concise Oxford Dictionary lists it as a person’s regular occupation or trade and then further elaborates it as commercial activity. The point to be noted here is that the word corporate has not been used, though it generally means a large company or group usually engaged in commercial activity. That is not, however, necessarily true: There are corporate bodies engaged in
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